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DataScience, the Culver City-based data analytics service, announced $6 million in Series A funding today.
The round was led by Greycroft Partners, with contributions from Pelion Ventures, Crosscut Ventures, and TenOneTen. The round doubled their total funding, placing them at $12 million to date.
CEO and co-founder Ian Swanson said a majority of their funding will go towards expanding their team as they prepare to move to a larger office in Culver City.
Rapid growth
DataScience launched a year ago with the goal of providing simple data solutions to mid and major enterprises. They have worked with Sonos, Belkin, Jarden, Tradesy, as well as many local startups.
“We’re not giving them another dashboard tool or software solution they can query as they try to find their own answers within the data set,” CEO and co-founder Ian Swanson said. “We scale out the human element of actually doing data science work.”
The service allows its clients to type in analytical questions that are fielded by actual data scientists who provide prompt, thorough explanations and strategies. The scientists are aided by technologies that DataScience’s engineers have built to sort and assess data.
Beginning a Data-Driven Destiny
Before starting the company, Swanson worked at American Express for two and a half years after selling his former startup to the credit card company in 2011.
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“I would constantly get reports of data and look for minor trends,” Swanson said. “If I had deep questions about what was driving sales or how to increase sales, it was really difficult for teams to answer those. I needed people who are trained in the art of data science, have the right software solutions, and have access to all the data.”
After spending time in both the startup world and large enterprises like AOL, Sprint, and American Express, Swanson learned that every level enterprise needed help analyzing data and answering tough, data-driven questions. He co-founded the company with former American Express colleagues, John Beckhardt and Colin Schmidt, with whom he created his former startup.
The company currently has 25 people but plans on hiring another 45 by year’s end. They host monthly data science meetups and workshops to teach the LA ecosystem the importance of data science and how it can be applied.
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