# RapidMiner

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/rapidminer

- Industry: Software
- Headquarters: Cambridge, US
- Website: www.rapidminer.com
- Total disclosed funding: $36M
- Latest round: Series C (Jan 5, 2016)
- Investors on record: 5

## About

RapidMiner, Inc. is a data analytics and AI platform that empowers organizations to harness their data for actionable insights and decision-making through advanced analytics and automation.Founded in 2007 by Ingo Mierswa and Ralf Klinkenberg, RapidMiner, Inc. is headquartered in Cambridge, US. The company focuses on providing a data analytics platform and has undergone a significant transition with its acquisition by Altair Engineering, Inc. in September 2022 for USD 100 mn. The acquisition aims to enhance its data analytics capabilities. RapidMiner has completed a total of 7 deals to date, with the most recent deal occurring on September 13, 2022, involving a Trade Sale that raised USD 100 mn. Altair RapidMiner offers a comprehensive data analytics and AI platform designed to empower organizations in utilizing their data effectively. The platform integrates and optimizes siloed data, enabling users to unlock hidden insights through advanced analytics and AI-driven automation. Key features include the ability to process both structured and unstructured data, model business processes, and utilize generative AI (genAI) for building robust applications. The client base spans various industries, including automotive, healthcare, and manufacturing, with notable customers leveraging the platform for tasks such as predictive modeling, automated reporting, and operational optimization. Altair RapidMiner's solutions are marketed globally, focusing on North America, Europe, and Asia-Pacific regions, to cater to a diverse clientele that seeks scalable and future-ready analytics solutions.Altair RapidMiner generates revenue primarily through subscription models for its software solutions, which include flagship products such as RapidMiner Studio and RapidMiner Server. The revenue structure is designed around software-as-a-service (SaaS) offerings, allowing clients to access and utilize the platform based on a tiered pricing strategy that accommodates various organizational needs. This model facilitates direct transactions between Altair and its clients, with users committing to annual or multi-year contracts that ensure continuous access to the platform's suite of tools. Additionally, partnerships with resellers expand distribution channels, driving further revenue streams through joint offerings in markets such as North America and Europe. The firm’s commitment to enhancing data-driven decision-making processes positions it favorably in an increasingly competitive landscape.The acquisition of RapidMiner, Inc. by Altair Engineering, Inc. is expected to bolster RapidMiner's offerings in data analytics. The company is likely to focus on developing new features and enhancing its existing platform to better serve its clients. Altair's strategic direction indicates plans for expanding into new geographic regions, particularly in Europe and Asia-Pacific, to tap into emerging markets. The recent funding will be utilized to strengthen the product development and expand the marketing efforts in these targeted regions.

## Funding rounds

- Series C, Jan 5, 2016, $16M — Ascent Venture Partners, Longworth Venture Partners, Earlybird, NGP Capital, OpenOcean
- Series B, Feb 18, 2015, $15M — Ascent Venture Partners, Longworth Venture Partners, Earlybird, OpenOcean
- Series A, Nov 4, 2013, $5M — Earlybird, OpenOcean

## Investors

- Earlybird (https://capitalatlas.ai/funds/earlybird) — Series A, Series B, Series C
- OpenOcean (https://capitalatlas.ai/funds/openocean) — Series A, Series B, Series C
- Ascent Venture Partners (https://capitalatlas.ai/funds/ascent-venture-partners) — Series B, Series C
- Longworth Venture Partners (https://capitalatlas.ai/funds/longworth-venture-partners) — Series B, Series C
- NGP Capital (https://capitalatlas.ai/funds/ngp-capital) — Series C