SOURCE: TrendMiner

TrendMiner

July 26, 2016 08:30 ET

TrendMiner Receives Additional $1.1 Million in Funding From The Innovation Fund

Infusion Will Help Support Company's Growth Objectives in the U.S.

HOUSTON, TX--(Marketwired - Jul 26, 2016) - TrendMiner, a leading big data search and advanced predictive analytics provider to the process manufacturing industry, announced today that it has received $1.1 million in additional funding from The Innovation Fund. This is a symbolic investment after the Fund's recent series A funding to TrendMiner of $6 million in December 2015. The investment group supports promising companies identified as creating exceptional value to the chemical industry.

"To have been selected by The Innovation Fund for this significant investment is truly an honor," said TrendMiner Founder and CEO Bert Baeck. "This investor group is a formidable consortium of former European industry executives, industrial families and chemical organizations. That they have identified TrendMiner as a worthy investment target reinforces our status as a technology company that plays a crucial role in bringing value to the industry."

According to Francois Cornelis, former vice president of the Total Executive Committee and now President of The Innovation Fund, the mission of the Fund is to support innovation in the chemical sector. "We are adding 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," Cornelis said.

Baeck noted that data analytics will increasingly play a major role in the IIoT. "It will introduce new types of data and formats and increased data volumes," he commented. "It's important to understand that traditional architectures and processes will not be able to deliver timely insights, resulting in missed opportunities or excessive cost."

TrendMiner is helping global manufacturing companies by improving their plant availability and overall asset effectiveness through Discovery, Diagnostic and Predictive Analytics using Pattern Recognition and Machine Learning technologies, all of which support IIoT. The solution easily connects to existing data sources without interruption to production process. TrendMiner is able to add value on day one by helping people make better decisions faster and enables users to react quickly by using self-service analytics and leveraging available data in several forms as an essential asset.

About TrendMiner

TrendMiner, with U.S. headquarters in Houston, TX, delivers Discovery, Diagnostic and Predictive analytics with real time monitoring tools for the process industry. Its flagship software is based on a high performance analytics engine for process data. Through an intuitive web-based trend client, process engineers and operators can easily search for trends using TrendMiner's patent pending pattern recognition and machine learning big data technologies, without the support of a data scientist. The TrendMiner plug and play solution adds value immediately after deployment eliminating expensive investments in big data infrastructure or long implementation projects. TrendMiner, founded in 2008, is a software company with global headquarters in Belgium and offices in the Netherlands, Germany, Spain and the U.S. Visit us at: www.trendminer.com

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