Democratizing Analytics with RapidMiner
Today I’m happy to announce Ascent’s newest portfolio company, RapidMiner. In leading the $15M Series B financing of RapidMiner, we are following through on an investment theme I’ve been pursuing for several years – bringing advanced analytics to the business analyst. As we’ve all seen, there’s been tremendous hype around big data, but unfortunately many companies have been left disappointed as they have struggled to derive real value from the data they are collecting. The core of the problem is a shortage of data scientists capable of delivering the analyses required to produce actionable business insights. This skills gap is unlikely to be bridged anytime soon, so the solution lies in making the analytics tools easier to use, and more accessible to the business analysts already embedded throughout corporate America. Delivering on this vision is a steep technical challenge and as such, we have been searching for a team with the vision and expertise to make this a reality. We found that team at RapidMiner, led by founder and CEO Ingo Mierswa, a rising star of the analytics world (see his latest analytics adventures here). The RapidMiner product suite is unmatched in its capabilities and flexibility, offering a code-free environment to develop and deploy the most demanding business analytics. The company’s plans for what’s next are equally impressive and Ingo and the RapidMiner team are poised to transform the advanced analytics market in the coming years. We at Ascent are thrilled to partner with them on this journey.
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