Explorium

Founded in 2017, Explorium is the developer of a platform that collects and analyzes data to improve analytics and machine learning.

History

2021: Raising $75 million in investments, including from Fort Ross Ventures

In mid-June 2021, the Israeli data collection platform Explorium completed a series C funding round, in which it raised $75 million. The investment round was led by Insight Partners, and existing investors also invested in Explorium: Fort Ross Ventures, Zeev Ventures, Emerge, F2 Capital, 01 Advisors, Dynamic Loop Capital.

According to the results of the last round, the total investment of Explorium exceeded $127 million, the managing director of Insight Partners and former president, Alteryx chief operating officer George Matthew joined the board of directors of Explorium.

Explorium attracted $75 million in investments

The latest investment round follows eight months after the Series B round in July 2020, which brought Explorium $31 million. The interest in Explorium is caused by the identification by companies of limitations and hazards that are predictive models based entirely on limited, unreliable internal data.

Explorium said it has doubled its customer base and more than quadrupled revenue since the pandemic began, as companies such as BlueVine, GlassesUSA.com, Melio and PepsiCo are actively using Explorium to improve artificial intelligence models that focus on assessing potential customers, identifying default risks and fraud.

Machine learning is the key to our competitive strategy, and external data is its driving force, "said Elad Zoldan, head of data at Melio, an Israeli fintechstartup company that has developed a digital payments platform focused on small and medium-sized US businesses. - Before we started using Explorium, we had to look for different data sources and make deals with different suppliers. This was not a scalable or flexible solution at all. With Explorium, we have access to a whole universe of external data and an incredibly effective way to determine which data will have the greatest impact.[1]

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