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Wolf Theiss Advises RapidMiner on the Investment of Earlybird and Open Ocean

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In a first financing round, Wolf Theiss has advised IT company RapidMiner on taking on USD 5 million in new capital from Earlybird Venture Capital and Open Ocean Capital. 

RapidMiner, founded in Germany in 2007, offers software solutions and services in the field of "predictive analytics, data and text mining." Global players such as Cisco, EADS, eBay, Intel, Lufthansa, PayPal, PepsiCo, Siemens and Volkswagen are among the users of the software the company has developer, and the funds RapidMiner has obtained from Earlybird and Open Ocean, two venture capital investors specializing in high tech companies, are expected to support RapidMiner's bid to capture the American market as well.

The Wolf Theiss team advising RapidMiner on the transaction was led by Partner Clemens Philipp Schindler, who commented that: "To remain competitive it is vital for companies to be able to use and evaluate their own data. Due to the ever increasing amount of data, the demand for products such as RapidMiner will continue to grow in the future. The move into the USA was, therefore, the next logical step to be able to profit from the market potential." 

Schindler was assisted by Wolf Theiss Partner Martin Abram, Senior Associates Martina Gatterer and Katharina Schindler, and Associate Markus Taufner. RapidMiner was also advised by teams from Pollath + Partner in Germany and Cooley in the USA.