We’re delighted to report that one of the companies we picked out for future success in our Web Summit preview back in November 2014, Qstream @, have just managed secure another $4 million funding to develop their company.
Harvard spinout Qstream , run by a UCD grad Duncan Lennox @ and with its European HQ in Ranelagh, just secured an additional USD $4M in funding including new investor Excel Venture Management to conclude its Series A round. Existing investors Frontline Ventures of Dublin also participated, as did Launchpad Venture Group of Boston. The additional $4M funds today cap the Series A at $6.85 M total.
As you know from Web Summit, Qstream provides a mobile enterprise application for managing the human side of sales acceleration that is used by 8 of the top 10 pharmas in the world along with major tech, financial services, medical device and consumer product companies. This isn’t process or content automation like Salesforce.com or Wave addons – this is actually understanding and graphically displaying what sales reps really know inside their brains, so that sales managers can better guide them to revenue success.
The new funds will be used specifically to expand Qstream’s predictive analytics capability, a $2 billion sector which has seen numerous fundings of late – and where Qstream’s “brain science” research-based platform that was originally spun out of Harvard has a first-mover advantage in its application for sales managers. There will also be additional engineering hires in both the US and Ireland associated with the predictive analytics expansion.