HOUSTON, TX and HASSELT, BELGIUM--(Marketwired - Jan 18, 2017) - TrendMiner has released results showing a year of strong growth and today confirmed that the company has grown by 250% over the last year. The company's growth in 2016 is due to rapid adoption of the software, which reflects the market's need for a single software solution that supports Industry 4.0 goals.
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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. TrendMiner Founder and CEO, Bert Baeck, said: "Today's endorsement by our Board of Directors further strengthens our ability to accelerate our growth and expansion over the coming year."
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.
Francois Cornelis, former President of the Chemicals Division at Total SA and current President of The Innovation Fund, stated that: "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."
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."
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%."
TrendMiner delivers Discovery, Diagnostic and Predictive Analytics software for the process industry. TrendMiner software is based on a high-performance analytics engine for process data captured in time series. Through an intuitive web-based client, process engineers and operators can easily search for trends themselves using pattern recognition and machine learning technologies. The TrendMiner plug and play software adds value immediately after deployment, eliminating expensive investments in big data infrastructure and long implementation projects. TrendMiner, founded in 2008, is a software company with global headquarters in Hasselt, Belgium and offices in the Netherlands, Germany, Spain and the U.S.A. Visit us at: www.trendminer.com