US-based analytics platform provider RapidMiner has closed a $16m series C round led by Nokia Growth Partners (NGP), the corporate venturing arm of IT and communications technology company Nokia.
NGP was joined in the round by Ascent Venture Partners, Earlybird Venture Capital, Longworth Venture Partners and Open Ocean Capital.
RapidMiner has produced an open source, predictive big data analytics platform for businesses. The company began at Technical University of Dortmund in 2001 under the name Rapid-I before being spun out in 2006 as RapidMiner.
The series C cash injection will support sales and marketing efforts and continued growth. Upal Basu, a partner at NGP, will join RapidMiner’s board of directors.
RapidMiner received $15m in series B capital in a February 2015 round co-led by Ascent and Longworth. Earlybird and Open Ocean co-led its $5m series A round in 2013.
– This article was first published by our sister site Global Corporate Venturing.
