Harvard spin-out Qstream receives $4m series A backing for predictive analytics technology.

Qstream, a spin-out of Harvard University, has secured a second tranche to its 2013 series A financing, bringing the total to $6.85m.

The latest $4m adds to $2.85m closed in September 2013. The round was led by Excel Venture Management, and was also backed by existing investors Frontline Ventures and Launchpad Venture Group.

The cash will be used to increase the company’s expansion into the predictive analytics sector, which is estimated to be worth $2bn. Launched in 2008 from Harvard, the company is already widely used, especially in the life sciences sector where several large pharmaceutical firms use Qstream technology to monitor the effectiveness of enterprise sales teams.

Duncan Lennox, Qstream CEO, said: “We are pleased to add Excel Venture Management, an experienced life sciences technology investor, to our investor group. Our investors collectively share our vision for a new mobile, data-driven approach to managing sales rep performance that will fundamentally change not only the way that sales reps are equipped for value-added conversations, but how sales management is conducted in 2015 and beyond.”