Tom Siebel, Founder and CEO, C3.ai. Photo credit: C3.ai

C3.ai, a software company founded and led by the long-time tech entrepreneur and veteran Tom Siebel, has hired investment banks to help it prepare for a public listing that could happen next year, according to a report from Reuters. The targeted public listing could value C3.ai at significantly higher than its current private valuation of $3.3 billion, Reuters reports. C3.ai is said to be working with banks including JP Morgan Chase & Co on its targeted public offering.

C3.ai is a software company founded by Tom Siebel, a long-time tech entrepreneur who’s best known for founding and selling a previous eponymous software company, Siebel Systems, to Oracle for nearly $6 billion. Siebel founded C3.ai in 2009, four years after selling his previous company to Oracle. The company was originally founded to provide enterprise software for the energy management industry, then known as C3 Energy, but later pivoted to general artificial intelligence software for enterprises. C3 offers predictive analytics systems used by companies in crucial activities like fraud detection and money laundering prevention. Among its customers include oil giant Shell, conglomerate 3M, and the United States Air Force.

As a private company, C3 has raised more than $200 million in funding. Among its investors include notable names like BlackRock, Sutter Hill Ventures, TPG Growth, and Breyer Capital. C3’s last-known funding round was a $50 million investment from BlackRock in September 2019, an investment that valued the eleven-year-old company at $3.3 billion. 

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