News: In 2016 TrendMiner Achieves Strong Growth
TrendMiner’s predictive analytics software for process industries enjoyed rapid market adoption in 2016, allowing the company to deliver strong results, attract investment and accelerate plans for expansion.
Rapid growth
TrendMiner has released its 2016 results which show that the company has grown by 250% over the last year. The company’s strong growth is due to rapid adoption of the software which reflects the market’s need for a software solution to support Industry 4.0 goals.
Based on the growth that TrendMiner achieved in 2016, the company’s Board of Directors has endorsed the acceleration of product development and global expansion during 2017. Bert Baeck, Founder and CEO of TrendMiner, said: “Today’s endorsement by our Board of Directors further strengthens our ability to accelerate our growth and expansion over the coming year.”
Investing in the future
This Board endorsement adds to previous investment which TrendMiner attracted from The Innovation Fund in 2016. The Innovation Fund is a European investment vehicle that consists of leading industry companies such as BASF, Solvay, Arkema and Total as well as industry leaders, executives and influencers.
“We added TrendMiner to our portfolio because we recognize that the industry must concentrate on next-generation productivity, digital transformation and the Industrial Internet of Things (IIoT). This is the exciting domain where TrendMiner delivers real value to its customers and serves as a rising industry leader.”
Delivering solutions
Many new organizations adopted the TrendMiner software in 2016 and, based on proven use cases, have rapidly expanded their use across their entire organizations. Global roll-outs and multi-year global contracts with existing customers resulted in strong growth in all the company’s key markets.
Bert Baeck, CEO of TrendMiner, believes the strong performance in 2016 also reflects the company’s attitude. Commenting on the 2016 results, he said: “The great response we have seen from companies in the process industry tells us more than that our software meets a significant need; it also tells us that our approach is right. We believe that collaboration with our customers is the key to delivering the solutions that they need today, and as we expand, we will continue to listen to our customers and innovate together.”
Increasing value
TrendMiner software allows end users to question their process data themselves in a plug and play solution. The software allows engineers to directly uncover trends in their processes in order to optimize both efficiency and quality in a self-service way. With the additional investment in TrendMiner, current and new customers will benefit from more and quicker delivery of new features, out-of-the-box integration with line of business applications and further expansion in the realm of IIoT and Industry 4.0.
Bert Baeck said: “As first mover in the process and asset analytics field and with our academic background as a university spin-off company, we have a very significant research pipeline. We want to implement and deliver this as soon as possible so that we can win in the analytics market and increase the value we currently provide by at least 300%.”
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