[October 24, 2009] REvolution Computing Secures New Funding, Names New CEO Tweet Oct 24, 2009 (Close-Up Media via COMTEX) -- REvolution Computing, a commercial provider of software and support for the open source "R" statistical computing language, announced that predictive analytics software executive Norman Nie has been named CEO. REvolution also announced it has received additional funding of $9 million from North Bridge Venture Partners and Intel Capital. Nie founded SPSS in 1968 and 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 $1.2 billion. While leading SPSS, Nie also held professorships at The University of Chicago and Stanford University. On taking the role of CEO, Norman Nie said, "I am keenly aware of R's roots in the academy, just like SPSS before it. We will continue our close relationship with the academic community, even as we meet the needs of commercial users, and we will expand our commitment to the R community in terms of products, services and resources. REvolution R Enterprise has the DNA to be the world's dominant analytics platform across commerce and government. For large companies and enterprises looking to take advantage of predictive analytics solutions based in open source, we will create enhanced functionality, usability and scalability. "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." REvolution's founding CEO Richard Schultz said, "As reported in The New York Times and elsewhere, the next era of predictive analytics is upon us and REvolution is at the forefront. What we started in 2007 has now grown tenfold, and this financing affirms our positioning. 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." ((Comments on this story may be sent to [email protected])) [ Back To TMCnet.com's Homepage ]