Lightspeed, Sequoia, IDG back $12m Everstring Series A

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data storage_lrgLightspeed Venture Partners has joined Sequoia Capital and IDG Ventures to back a $12m Series A financing round for customer data analytics business Everstring.

The round was led by Lightspeed according to a statement from the Everstring, which said the capital would be used to help expand its team and continue its rapid growth.

Lightspeed partner Peter Nieh said, “EverString is a perfect example of the way that big data has evolved from an overhyped phrase to a core part of how businesses solve real-world problems.

“Businesses that leverage EverString will enjoy a fundamental competitive advantage in acquiring customers.

“We are thrilled to invest in the company and to support their incredible growth.”

Everstring CEO Vincent Yang added, “Our team, which includes Stanford neural science PhDs, artificial intelligence PhDs and a NASA engineer, has spent the past two years building a powerful analytics engine with adaptive learning capabilities.

“Our goal is to bring the most sophisticated machine learning and unstructured data analytics to help companies target, engage with and close new customer prospects.”

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