TPG Growth, the $7 billion middle market and growth equity investment platform of TPG, today announced it has invested in C3 IoT, reinforcing its position as the fast-emerging leader in the Internet of Things (IoT) market. The investment adds to TPG’s strong franchise and extensive track record in the technology space.

TPG Growth, the $7 billion middle market and growth equity investment platform of TPG, today announced it has invested in C3 IoT, reinforcing its position as the fast-emerging leader in the Internet of Things (IoT) market. The investment adds to TPG’s strong franchise and extensive track record in the technology space.

Founded by Silicon Valley icon Thomas Siebel, C3 IoT applies the sciences of big data, advanced analytics, and machine learning to enable a new generation of smart business processes and predictive analytic applications that enable businesses to create competitive advantage.

The McKinsey Global Institute estimates the potential economic impact of new IoT applications and products to be as much as $3.9-$11.1 trillion by 2025. With more than 20 enterprise-scale customer deployments and 70 million devices under management, C3 IoT is “clearly miles beyond its established competitors,” according to Harbor Research.

“TPG looks to partner with important, high-growth companies that have large addressable markets and world-class management teams that promise to establish market leadership. C3 IoT is such a company,” said Nehal Raj, Partner at TPG. “The IoT software market opportunity is substantial and our research shows that C3 IoT is well positioned to establish and maintain a market leadership role. We look forward to working closely with C3 IoT to realize that objective.”

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