German-founded company RapidMiner has moved its Headquarters from Dortmund to Boston and raised a $5M Series A round. RapidMiner was founded in Dortmund and will maintain an R&D office there.

RapidMiner provides software, solutions, and services in the fields of predictive analytics, data mining, and text mining. Their technology allows companies to use previously unexplored data to inform their decisions, optimize their processes, and take advantage of the highest level of business intelligence.RapidMiner spans industries to solve the challenges facing today’s business analysts.

With the participation from the European firms Earlybird Venture Capital and Open Ocean Capital, RapidMiner could raise their first outside capital. In the Boston Area, the company will expand domestic and international sales and marketing operations and develop new products within their product line. RapidMiner has more than 400 customers who use the RapidMiner technology, including reputable companies such as PayPal, Pepsi, Siemens, Lufthansa and Volkswagen. The investment also leads to a new profile: the name changed from Rapid-I to RapidMiner, just like the name of the product.

Author: Anja Rettig Legal Intern at BridgehouseLaw Charlotte

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