US-based big data company EverString has received $12m in series A funding from investors including IDG Ventures, a corporate venturing subsidiary of publishing and data company IDG.
Venture capital firm Lightspeed Venture Partners led the round, which also included VC firm Sequoia Capital.
Everstring uses algorithms to mine company data and information found freely on the internet to curate marketing leads and find potential customers for business-to-business sales. The capital will be used to increase the hiring of data scientists as the company grows.
Following the round, Peter Nieh, partner at Lightspeed Venture Partners, will now join EverString’s board of directors. Everstring previously raised $1.7m in seed funding in 2013 from IDG Ventures, Sequoia Capital and angel investors