New Haven, CT- and Seattle, WA-based REvolution Computing, the commercial provider of software and support for the open source “R” statistical computing language, announced that it has received additional funding of $9m from North Bridge Venture Partners and Intel Capital and that predictive analytics software pioneer Norman Nie has been named CEO.
Founder of SPSS in 1968, Nie guided its growth over many years as it became one of the two leading first generation statistics software companies before being acquired by IBM in August 2009 for $1.2bn.
While leading SPSS, Nie also held professorships at The University of Chicago and Stanford University.
On taking the role, Norman Nie said: “I want to thank the company as well as North Bridge and Intel for placing their trust in me.
“And I want to pay special tribute to REvolution’s founder Richard Schultz. He had the vision and assembled the team to create the company and its outstanding products that hold so much promise for statisticians and quantitative analysts in every field”.
The same REvolution’s founding CEO Richard Schultz said that this new capital combined with the proven leadership of Norman Nie promises to be an unbeatable combination of technology, vision, and the ability to execute in today’s marketplace.
Lisa Lambert, managing director at Intel Capital, added that: “With the financial backing of North Bridge Venture Partners and Intel Capital and the leadership of Norman Nie, we believe REvolution Computing is well positioned to become the leading provider of R to enterprise customers and drive commercial use of R into a wide variety of business contexts”.
FinSMEs
20/10/2009