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Maana Raises $28M from CICC, Accenture and other investors

Wednesday, December 20, 2017

Oil and gas digital knowledge technology company Maana reports that it has raised $28 million in Series C funding. The round is led by China International Capital Corporation (CICC) and Eight Square Capital.

Other new investors include Accenture Ventures and Sino Capital.

All of Maana's existing strategic investors, Intel Capital, GE Ventures, Chevron Technology Ventures, Saudi Aramco Energy Ventures and Shell Technology Ventures participated.

The funding demonstrates confidence from strategic global investors in the key role the Maana Knowledge Platform is playing to accelerate industrial digital transformation, Maana says.

Investments in Maana to date total $68 million.

"Maana has purposely chosen to take strategic investments to enable the company to develop a mature platform designed specifically to address the toughest industrial digitization challenges," it said.

'Maana is pleased to announce new funding from major global strategic investors,' said Babur Ozden, CEO and co-founder, Maana.

'The latest investment will be used to scale our business globally and support our growing Fortune Global 500 customer base. This funding combined with the strategic alliance Maana has established with Accenture, demonstrates the demand for Maana's cutting-edge AI-driven knowledge technology as a key enabler of digital transformation at the world's largest industrial companies.'

'At CICC we pride ourselves in investing in disruptive technologies,' said Qing (Tracy) Gao, managing director and vice chairman of CICC Capital Overseas, and managing partner of Global Bridge Capital, a fund based in Silicon Valley sponsored by CICC and CM Capital.

'From our decades of experience in China, digital transformation at China's industrial enterprises will have a profound effect on improving corporate operations and enhancing the global economy. We believe the Maana Knowledge Platform has the potential to become the essential digital knowledge layer of the world's industrial data and deliver significant business value to industrial companies.'

'Investments in digital technologies are helping enterprises, especially those in the oil and gas sector, generate hundreds of millions of dollars in operational efficiencies and new revenue sources,' said Paul Daugherty, Accenture's chief technology & innovation officer.

'Over the past year we have seen how Maana's knowledge platform was being adopted to accelerate digital transformation at some of the world's largest industrial companies. By investing and partnering with Maana, Accenture will develop hundreds of AI-based knowledge applications to help our industrial clients augment and improve their human decision making.'

In 2017 Maana's technology was recognized by several well-respected industry organizations, including the World Economic Forum recognizing Maana as a 2017 Technology Pioneer; CERAWeek the world's preeminent energy conference organized by IHS Markit naming Maana one of eight 2017 Energy Innovation Pioneers; and CB Insights recognizing Maana as one of one hundred most promising private artificial intelligence companies in the world.

China International Capital Corporation (CICC, 3908.HK) is a premier China-based investment bank with international reach. As CICC's exclusive platform for private equity investors, CICC Capital's overall AUM was approximately RMB 180 billion as of June 30, 2017. Global Bridge Capital, sponsored by CICC and CM Capital, is the first Silicon Valley fund on CICC Capital's platform that invests in high-tech industries in the US. CICC has offices in New York and San Francisco in the US, and Global Bridge Capital has office in Palo Alto. Visit us at https://www.cicc.com

Maana's patented Knowledge Graph combined with Maana's proprietary AI algorithms, expedites extracting knowledge from data silos, to reveal their relationships in the context of optimizing operations and decision flows.

Maana's customers include Fortune 500 companies such as Airbus, Chevron, GE, Maersk, and Shell. In 2017 Maana was named Technology Pioneer by the World Economic Forum.

Maana's strategic investors are comprised of Frost Data Capital, GE Ventures, Intel Capital, Chevron Technology Ventures, Saudi Aramco Energy Ventures, Shell Technology Ventures, Accenture Ventures, CICC, Eight Square Capital, and Sino Capital. Maana is privately held with offices in Palo Alto, California, Bellevue, Washington, Houston, Texas, Saudi Arabia and multiple locations in Europe.



Associated Companies
» MAANA

External Links
» Maana website

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