RapidMiner Announces Record Revenue for Q1 2017

BOSTON, May 24, 2017 /PRNewswire/ -- RapidMiner™, the company that delivers real data science, fast and simple, today announced record revenue and new customer acquisition in Q1 2017. Additional milestones in the company's first quarter include being recognized as a leader by two industry analyst firms and releasing two updates to its flagship data science platform.

"RapidMiner had an excellent quarter, driven by accelerated adoption inside global enterprises," said Peter Lee, chief executive officer at RapidMiner. "The growth of machine learning and artificial intelligence in the enterprise creates a tremendous opportunity for RapidMiner. Our unique approach lets data science teams work faster to deliver more transformational business impact, freeing organizations from the complexity and cost of legacy data science approaches."

New customers signed by RapidMiner in Q1 2017 span a variety of industries including manufacturing, financial services, telecom, and government organizations. New customers signed in its Q1 include:

• A $300b+ global electronics manufacturer who selected RapidMiner to analyze customer behavior and improve the effectiveness of its product launches and marketing campaigns.
• A federally funded research and development center who selected RapidMiner to improve the productivity of their data science team across a diverse set of users and use cases.
• A $100b+ energy company who selected RapidMiner to analyze text from millions of documents to provide better customer suppor to internal and external stakeholders.

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.

"RapidMiner's unified data science platform lets us address a broad spectrum of use cases across customer, operational, and risk analytics," said Patrick Pang, Head of Solution Consulting at Jardine OneSolution (HK) Limited. "Through our partnership with RapidMiner, we bring our customers the very best of both established and emerging technologies that power growth and support performance of business and governments."

About RapidMiner

RapidMiner builds software for real data science, fast and simple. We make data science teams more productive through a lightning fast platform that unifies data prep, machine learning, and model deployment. More than 200,000 users in over 150 countries use RapidMiner products to drive revenue, reduce costs, and avoid risks.

For more information, visit rapidminer.com.

Media Contacts:

Tom Wentworth, RapidMiner
[email protected]
+1 (617) 401-7708

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SOURCE RapidMiner

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