Culver City-based DataScience has closed a $4.5 million Series A round of financing led by Greycroft Partners. This investment follows a recent $1.5 million seed round from Pelion Ventures Partners, Crosscut Ventures and TenOneTen, who also participated in the Series A.
DataScience combines human intellect with machine-powered analysis to craft simple, actionable insights from raw data to drive real business results.
Through its web application, customers simply plug in raw data, pose specific questions about their business, and get answers from an on-demand team of data experts.
The company works collaboratively with a wide range of business teams spanning from sales to marketing, product to IT and customer service to operations.
For example, DataScience helps sales teams improve sales funnel optimization by uncovering blockage points and growth opportunities.
Similarly, DataScience helps marketing teams enhance cross selling by identifying customer behaviors that could drive new purchases.
Its software-as-a-service pricing model gives customers the option to pay monthly or annually, current customers range in size from Sonos and Belkin to e-commerce startup Tradesy.
“Every business team, in every industry, has problems they need to solve, products they need to monetize and operations they need to optimize,” says DataScience CEO and co-founder Ian Swanson. “They also all have data that can light the path for them. What they lack is the ability to efficiently and effectively analyze that data to create action-oriented solutions. That’s where DataScience comes in.”
Says Paul Bricault, venture partner at Greycroft, “We realized that there is a universal need among all businesses for the value that DataScience provides. Their unique approach goes far deeper than standard business intelligence and analytics tools to uncover exactly why things are happening, where the opportunities lie, and how to act on such insights.”
In addition to announcing the latest round of funding, the company has also appointed a board of directors, which includes Paul Bricault of Greycroft Partners and Chad Packard of Pelion Ventures, as well as Ian Swanson and Colin Schmidt of DataScience.