EverString Raises $12M to Bring Machine Learning to Clients

logo-esJonathan Vanian of GigaOM reports, “EverString, a big data startup that helps companies identify prospective sales leads and new clients though predictive analytics, has raised $12 million in a series A funding round. Lightspeed Venture Partners led the round, which also included existing investors Sequoia Capital and IDG Ventures. While there are a host of marketing analytics services in the market like Silverpop and Eloqua that businesses use to aggregate numerous sales leads and find potential customers, EverString’s technology goes beyond whatever data is hosted internally within a company and branches out to the open web, explained EverString’s co-founder and CEO, Vincent Yang.”

Vanian continues, “Current CRM or marketing analytics tools typically only contain information that remains static over time, like a person’s name or a company’s industry sector. With EverString plugged into a user’s current CRM tool, however, more nuanced and complex information can be added to each lead in the database.As EverString’s custom-built information retrieval system gleans the internet to discover possible relationships between the in-house leads and data available in public databases, it’s machine learning algorithms help it figure out what leads could be more important to a business than others. Yang likens EverString to the marketing automation equivalent of a Nest thermostat, which manages a person’s home temperature based on outside conditions as well as a person’s preferred environmental settings.”

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Image: Courtesy EverString