SOURCE: DataScience

June 02, 2015 07:30 ET

DataScience Announces $6 Million in Venture Capital Funding to Drive Company Growth

Unique Solution Puts the Power of Data Science in the Hands of Any Business Team

CULVER CITY, CA--(Marketwired - Jun 2, 2015) - DataScience, Inc. (www.DataScience.com), the company that combines human intellect with machine-powered analysis to craft simple, actionable insights from raw data to drive real business results, announced today that it 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 funding.

"Every business team, in every industry, has problems they need to solve, products they need to monetize and operations they need to optimize," said Ian Swanson, co-founder and CEO, DataScience. "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."

DataScience works collaboratively with a wide range of business teams spanning from sales to marketing, product to IT and customer service to operations. 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.

DataScience's proprietary technologies handle the tedious task of "data cleaning" so that its multi-disciplinary group of data experts can focus their time on extracting insights from the data that are tailored to each business team. For example, DataScience helps sales teams improve sales funnel optimization by uncovering blockage points and growth opportunities. Similarly, they help marketing teams enhance cross selling by identifying customer behaviors that could drive new purchases.

"We realized that there is a universal need among all businesses for the value that DataScience provides," says Paul Bricault, venture partner at Greycroft Partners. "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."

Its software-as-a-service pricing model gives customers the option to pay monthly or annually. The monthly price point is attainable for business teams and companies of any size. Some current customers include connected hardware leaders Sonos and Belkin, as well e-commerce startup, Tradesy.

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.

About DataScience

Based in Culver City, Calif., DataScience, Inc. combines human intellect with machine-powered analysis to create simple, actionable insights from complex data to drive real business results. Founded by a team of accomplished entrepreneurs with a background in data science and big data, and experience in such Fortune 500 mainstays as American Express, AOL and Sprint, DataScience traces its lineage to Sometrics, which was acquired by American Express in 2011. DataScience is backed by Greycroft Partners, Pelion Venture Partners, Crosscut Ventures, and TenOneTen. To learn more or request a demo, please visit: www.DataScience.com.

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