Nine Investors Fund the AI Startup Company
Seebo has attracted funding from nine investors as of March 2021. Investors in the business in the recently completed Series B funding round include Phoenix Equity Partners, Leumi Partners, 10D, Vertex Ventures, TPY Capital, and Viola Ventures.
“We are happy to announce that we have tripled our investment nine months after our initial investment in Seebo, while observing up close how Seebo is saving process manufactures millions of dollars,” said Yanai Oron, General Partner at Vertex Ventures.
10D and Vertex Ventures acted as lead investors in the Series B round. 10D, a venture capital firm based in Tel Aviv, has also invested in Acumen (a data management app company for engineering teams) and Obligo (a New York-based business that managers renter security deposits).
Vertex Ventures is a global investor based in Palo Alto, California. The firm has invested in over a dozen companies, including LaunchDarkly (an app business that improves software development), PerimeterX (a cybersecurity company with more than 100 customers), and Very Good Security (a data security business).
Seebo Serves Large Business Customers
Seebo's customer list includes a variety of manufacturing companies. Abbot (a global medical device company), Danone (an international food company based in Spain known for yogurt), General Mills (a US-based food company), and Lindt (a chocolate company in operation since 1845). Seebo offers business users predictive alerts so that they can quickly find manufacturing quality problems.
400% Year-Over-Year Growth
The pandemic crisis has prompted many manufacturing companies to adjust their operations. Anheuser-Busch, a global beer company, changed its operations to produce more than 500,000 hand sanitizer bottles in April 2020. Completely changing a manufacturing process means a higher chance of quality and process problems. It’s no surprise that Seebo has grown 400% year-over-year (YOY).
The Startup Joins the Fourth Industrial Revolution
The AI startup company is one of many companies that are helping manufacturing business users to modernize. Popularized by a 2017 book by Klaus Schwab and by the World Economic Forum, the fourth industrial revolution involves combining AI, the Internet of Things, and other digital tools to improve industrial efficiency. McKinsey, a management consulting business, also points out that each manufacturing business will need to use technology to respond to climate change.
About the Author
Bruce Harpham is an author and marketing consultant based in Canada. His first book "Project Managers At Work" shared real-world success lessons from NASA, Google, and other organizations. His articles have been published in CIO.com, InfoWorld, Canadian Business, and other organizations. Visit BruceHarpham.com for articles, interviews with tech leaders, and updates on future books.