Benzinga | Aug 6, 2021 11:18AM EDT

Phillips 66 Invests in Seeq, an Advanced Analytics Software Developer

Investment will support the company's digital transformation

Phillips 66 is driving to expand its advanced analytics capabilities with an investment supporting Seeq, a developer of software applications for 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."

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.