Web: Analytics Startup DataScience Scores $22M

December 2015 by: From The Web

DataScience, Inc. has closed $22 million in funding this week. The investment, led by Whitehart Ventures, extends the $4.5 million Series A financing round led by Greycroft Partners, bringing DataScience’s total amount of funding to more than $28 million.
The new funding round will be used to grow DataScience’s team of leading data scientists and engineers who combine intellect, proprietary in-house tools, and data to drive significant business results.


“The current practices for extracting and communicating insights from data are broken,” said Ian Swanson, co-founder and CEO of DataScience. “Existing business intelligence and analytical software tools are focused on visualizing every single way you can slice data, which fails to give users a direct and precise course of action.”
“Many of these tools output a barrage of key performance indicators, which are scattered in different emails, PDF reports, and dashboard visualizations. This results in wasted time and effort in trying to figure out where to focus to make impactful decisions,” Swanson added. “We designed DataScience to show customers precisely what they need to know to answer their toughest questions and to collaborate on those insights so they can quickly be put into action.”


How DataScience Works:
The process begins when customers send data securely to DataScience either in real-time or as flat files. Actionable insights are extracted from the data through the use of proprietary technologies, a network of custom models, and an in-house team of data scientists. DataScience looks at predictive factors such as lifetime value, churn, and likelihood of sale, in addition to particular needs expressed by the customer (e.g. How can I improve discounting efficiency?). All of the resulting insights are published on the DataScience web application, which provides users with a host of interactive tools including categorization, advanced search, and other collaborative functions for individuals and business teams.


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