Phillips 66 announced it invested in supporting Seeq, a developer of software applications as the company expands its advanced analytics capabilities.
Phillips intends to use the investment as a means of analyzing and sharing insights on process manufacturing data.
The investment is through the Altira Group, a venture capital firm that counts Seeq as one of its portfolio companies. It is the first investment by Phillips 66’s Digital Ventures organization, which is part of the AdvantEdge66 program launched by the company to drive digital transformation and innovation.
“Data can yield incredible value and insights when properly gathered and refined through advanced analytics,” said Zhanna Golodryga, Senior Vice President and Chief Digital and Administrative Officer for Phillips 66.
“That’s why it’s important for us to collaborate with companies to advance innovation in the digital and analytics spaces. This investment provides a pathway for us to help Seeq grow and continue to improve its products, which we believe will be beneficial for our digital transformation journey,” said Golodryga.
Seeq is a privately held virtual company headquartered in Seattle with a comprehensive set of process manufacturing and Industrial Internet of Things software applications. These applications, which include time-series data visualization tools, enable stakeholders to rapidly investigate, collaborate and distribute insights to improve operations and business outcomes.
Source: Business Wire
