RapidMiner Record Revenue for Q1 2017

RapidMiner, the industry’s #1 open source predictive analytics platform, is disrupting the industry by empowering enterprises to include predictive analytics in any business process—closing the loop between insight and action. RapidMiner’s effortless solution makes predictive analytics lightning-fast for today’s modern analysts, radically reducing the time to unearth opportunities and risks. RapidMiner delivers game-changing expertise from the largest worldwide predictive analytics community.

Rapidminer has been providing fast and reliable data science analytics announced record revenue and new customer acquisition by the first quarter of this year. They will also be  additional milestones in the company’s first quarter which will include two updates to its flagship data science platform.

The surge in  machine learning and artificial intelligence in the enterprise has created a huge oppurtunity for RapidMiner. The method adopted by them has proved to be useful by providing them with more transformational business impact, freeing organizations from the complexity and cost of legacy data science approaches.”

 Product Highlights

RapidMiner released two updates to its flagship data science platform in Q1. New product enhancements include:

SparkRM, enabling any operator or process in RapidMiner Studio to run in-parallel inside a Hadoop environment using Apache Spark as the execution framework.

Enhanced parallel process execution to speed operations by a factor of 10x or more.

Background process execution, allowing users to run multiple jobs in the background while they continue to work inside RapidMiner Studio.

A new data core that lowers the memory footprint of RapidMiner Studio, speeding data preparation tasks that modify or create new attributes.

 Company News

RapidMiner added industry veteran Andy Walter to its advisory board. Walter led the Commercial Services & Delivery Organization for Procter & Gamble’s Global Business Services, where he was responsible for IT & Shared Services. He has over 15 years of experience working on Boards and in Board level advisory roles, including Digimarc, Fractal Analytics, Virtualitics (a CalTech/JPL Analytics Startup), Ivy Mobility, and SignalsAnalytics.

Gartner, Inc. positioned RapidMiner in the Leaders quadrant of the 2017 Magic Quadrant for Data Science Platforms for the fourth year in a row.

RapidMiner was named a Leader in the Forrester Research, Inc. report: “The Forrester Wave™: Predictive Analytics and Machine Learning Solutions, Q1 2017.” Forrester noted that RapidMiner “wraps breadth and depth in a beautiful package.”

RapidMiner expanded its partner network across the globe, adding new partners in Hong Kong, Hungary, Lebanon, Spain, South Africa, Turkey, and the UK.

Investor Round(s)    Partner(s)

  • Ascent Venture Partners Series B (Lead)
  • Luke Burns
  • Series C
  • Luke Burns
  • Earlybird Venture Capital Series A (Lead)
  • Jason Whitmire
  • Series B
  • Jason Whitmire
  • Series C –
  • Longworth Venture Partners Series B (Lead)
  • Nilanjana Bhowmik
  • Series C
  • Nilanjana Bhowmik
  • Nokia Growth Partners (NGP) Series C (Lead)
  • Upal Basu
  • OpenOcean Series A (Lead)
  • Patrik Backman
  • Series B
  • Patrik Backman
  • Series C
  • Patrik Backman

RapidMiner has been shortlisted as a finalist for having the best Predictive Analytics product in the industry.

More than 200,000 users in over 150 countries use RapidMiner products to drive revenue, reduce costs, and avoid risks.

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