RapidMiner Inc., a data analytics company founded in Germany, said it has closed a $5 million Series A funding round led by Earlybird Venture Capital and Open Ocean Capital as it scouts for a headquarters location in the Boston area.
According to RapidMiner, this area is considered “a hub of advanced analytics activity.” The company has had a local presence since late 2012, with employees in Cambridge and Burlington. About a third of the company’s 40-person work force is in Massachusetts, a company spokesman said. The company will continue to operate an office in Germany to do research and serve its European customers.
RapidMiner provides software, solutions, and services in the fields of predictive analytics, data mining, and text mining. It automatically and intelligently analyzes data – including data bases and text – on a large scale. The company said its technology is in use by more than 400 paying customers, including EADS, GfK, Lufthansa, PayPal, Pepsi, Sanofi, Siemens, Telenor, and Volkswagen.
“With Big Data being generated during every instance of consumer interaction, RapidMiner is well positioned to help customers quickly discover trends, correlations and opportunities from their data,” Ingo Mierswa, co-founder and chief executive of RapidMiner, said in a statement.