Israeli automated data discovery platform Explorium has raised $31 million, less than a year after its last financing round in which it raised $15 million. This financing round, like the previous one, was led by Oren Zeev's Zeev Ventures with the participation of ex-Twitter senior executives, F2 Capital, Emerge, and UK businessman Sir Ronald Cohen's Dynamic Loop. This brings to $50 million the amount raised by the company.
Explorium was founded in 2017 by Omer Har, Or Tamir and CEO Maor Shlomo, and has 87 employees of whom 72 are in Israel. The company will expand its workforce in accordance with demand, which is difficult to predict because of the Covid-19 crisis. Explorium has not disclosed its revenue but says it has tripled the number of customers over the past year. Recent customers include online small-business lender OnDeck, global media agency CrossMedia, small business banking provider BlueVine, online eyewear retailer GlassesUSA, and small business loan provider Behalf. Explorium has also partnered with organizations including Amazon Web Services, cloud data platform Snowflake, and data-driven strategy and consulting firm Nova Consulting.
Explorium allows companies to build better predictive models by connecting their internal data to thousands of external data sources (including company, geospatial, behavioral, time-based, website data, and more), and then automatically uncovering hidden connections and generating custom signals and new data science 'features' that make predictions more accurate. In doing this, the Explorium platform empowers data scientists by eliminating the barrier to acquire the right data, and business leaders by giving them the ability to make better decisions based on predictive power.
Shlomo said, "The greatest analytical challenge organizations will face over the next decade is finding the right data to feed their models and automated processes. The right data assets can make or break a company, or even propel a company to market leadership. This is why we built Explorium - to help companies discover the most relevant data assets out there, in an automated way. We're proud that our existing investors have doubled down on Explorium, and that new, world-renowned partners have joined them."
Published by Globes, Israel business news - en.globes.co.il - on July 28, 2020 © Copyright of Globes Publisher Itonut (1983) Ltd. 2020