The firm, which designs software to help statisticians create predictive models, received funding from North Bridge Venture Partners and Intel Capital and will use the cash for research and development of its R software portfolio.

It is the second time that Intel has invested in the firm and the first for North Bridge, although the latter has a working relationship with Nie that spans more than 30 years.

Basil Horganic, a partner at North Bridge, said: “I have known Norman Nie for many years, and if ever there was a figure in the world of predictive analytics who can help REvolution R fulfil its destiny, it’s Norman.”

Founding CEO Richard Schultz, who has now left the firm, said: “What we started in 2007 has 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 on today’s marketplace.”

Nie founded SPSS in 1968 and left the firm in late 2007. He was until recently engaged in a trademark dispute with the company over the use of the SPSS name, but the case was settled in September ahead of the company’s acquisition by IBM.