RapidMiner Secures $16 Million Investment
January 08, 2016
Share this

RapidMiner, an open source predictive analytics platform, closed a $16M equity financing round.

New investor, NGP, led the round with participation from existing investors Ascent Venture Partners, Earlybird Venture Capital, Longworth Venture Partners, and Open Ocean Capital. Upal Basu of NGP will join the Board of Directors. This new capital infusion will fuel the growing demand for RapidMiner’s predictive analytics platform.

“We are thrilled to partner with RapidMiner, the leading predictive analytics platform, with a community of more than 250,000 users worldwide,” said Upal Basu, Partner at NGP. “RapidMiner lets organizations turn data into transformative business outcomes and sits at the intersection of important innovation in big data and machine learning.”

RapidMiner is doubling revenue annually and grew to over 100 employees in 2015, driven by increased demand in Fortune 500 organizations. In 2015, for the second consecutive year, Gartner Research positioned RapidMiner in the Leaders Quadrant of the Magic Quadrant for Advanced Analytics Platforms. Forrester Research positioned the company as a Strong Performer in “The Forrester WaveTM: Big Data Predictive Analytics Solutions, Q2 2015” report.

“Legacy predictive analytics approaches have become a barrier to swiftly meeting organizations’ needs for fast insights and action. RapidMiner’s cutting-edge predictive analytics platform empowers data science teams to deliver and operationalize predictive decisions faster than ever before,” said Peter Lee, CEO and President at RapidMiner. “Our platform streamlines the predictive analytics lifecycle and opens up advanced analytics to citizen data scientists. The new funding will allow us to leverage the strength of the product, further invest in sales and marketing, and greatly accelerate our momentum.”

Share this

The Latest

November 08, 2024

In MEAN TIME TO INSIGHT Episode 11, Shamus McGillicuddy, VP of Research, Network Infrastructure and Operations, at EMA discusses Secure Access Service Edge (SASE) ...

November 07, 2024

On average, only 48% of digital initiatives enterprise-wide meet or exceed their business outcome targets according to Gartner's annual global survey of CIOs and technology executives ...

November 06, 2024

Artificial intelligence (AI) is rapidly reshaping industries around the world. From optimizing business processes to unlocking new levels of innovation, AI is a critical driver of success for modern enterprises. As a result, business leaders — from DevOps engineers to CTOs — are under pressure to incorporate AI into their workflows to stay competitive. But the question isn't whether AI should be adopted — it's how ...

November 05, 2024

The mobile app industry continues to grow in size, complexity, and competition. Also not slowing down? Consumer expectations are rising exponentially along with the use of mobile apps. To meet these expectations, mobile teams need to take a comprehensive, holistic approach to their app experience ...

November 04, 2024

Users have become digital hoarders, saving everything they handle, including outdated reports, duplicate files and irrelevant documents that make it difficult to find critical information, slowing down systems and productivity. In digital terms, they have simply shoved the mess off their desks and into the virtual storage bins ...

November 01, 2024

Today we could be witnessing the dawn of a new age in software development, transformed by Artificial Intelligence (AI). But is AI a gateway or a precipice? Is AI in software development transformative, just the latest helpful tool, or a bunch of hype? To help with this assessment, DEVOPSdigest invited experts across the industry to comment on how AI can support the SDLC. In this epic multi-part series to be posted over the next several weeks, DEVOPSdigest will explore the advantages and disadvantages; the current state of maturity and adoption; and how AI will impact the processes, the developers, and the future of software development ...

October 31, 2024

Half of all employees are using Shadow AI (i.e. non-company issued AI tools), according to a new report by Software AG ...

October 30, 2024

On their digital transformation journey, companies are migrating more workloads to the cloud, which can incur higher costs during the process due to the higher volume of cloud resources needed ... Here are four critical components of a cloud governance framework that can help keep cloud costs under control ...

October 29, 2024

Operational resilience is an organization's ability to predict, respond to, and prevent unplanned work to drive reliable customer experiences and protect revenue. This doesn't just apply to downtime; it also covers service degradation due to latency or other factors. But make no mistake — when things go sideways, the bottom line and the customer are impacted ...

October 28, 2024

Organizations continue to struggle to generate business value with AI. Despite increased investments in AI, only 34% of AI professionals feel fully equipped with the tools necessary to meet their organization's AI goals, according to The Unmet AI Needs Surveywas conducted by DataRobot ...