Israel-based manufacturing analytics software developer Seebo has pulled in $24m through an extended series B round backed by insurance provider The Phoenix.
Vertex Ventures led the round, which included fellow venture capital firm 10D and Leumi Partners, the investment banking arm of financial services firm Bank Leumi.
Seebo was founded in 2012 and has developed artificial intelligence-based software used by companies to predict and prevent production losses in the manufacturing process.
The company closed a $9m round in July 2020 that may be related to the series B round. It was led by 10D (then known as Ofek Ventures) and also featured Vertex Ventures, Viola Ventures and TPY Capital.
The last two had joined Pritzker Group Venture Capital and Global IoT Technology Ventures in Seebo’s $16.5m series A round in 2017. Viola Ventures (then known as Carmel Ventures), TPY Capital and undisclosed investors had provided $8.5m in series A funding the year before.
Design software producer Autodesk invested an undisclosed amount in Seebo in 2016 through Forge Fund, the vehicle launched to support its cloud services platform.