Israeli startup Explorium is looking to do to big-data the same thing that Google did to the internet. One foot behind the other, this company keeps ascending with its third funding round in the last year, this time closing a $31 million Series B round, led by Zeev Ventures with participation from 01 Advisors, former Twitter CEO Dick Costolo’s fund Emerge, and British VC legend, Ronald Cohen’s Dynamic Loop.
Utilizes external and internal data sources
Explorium’s platform enables data-science teams access to thousands of databases, both internal and external, allowing them to retrieve required data. For example, empowering insurance companies with data-driven insight to help predict the number of phone calls at their customer service call center, and therefore know how to properly staff it. Instead of just analyzing generic factors like time, dates, and number of calls, the platform digs deep and all around for relevant data to try and create a bigger picture, as they understand that a comprehensive outlook provides much deeper and accurate insight.
In a talk with Geektime, Explorium COO Or Tamir explains that the company has grown exponentially over the last year, further expanding its data-source bank. The company has also invested in infrastructure to better detect and process external services that can then be made accessible for business needs
Looking past the company’s focus on data-science, Tamir reveals that the startup has started to provide organizations with solutions for transitioning to the world of data-science and ML: “Its advantages come to light with a whole arsenal of capabilities providing a full end-to-end process on one platform - starting with the detection of relevant data-sources from around the world…”
Last year Explorium announced a few unusual funding rounds: starting with a humble $3.6 million Seed investment. Before they could spend the riches, the company started receiving more surprising and enticing offers, eventually raising $15 million in a, little less humble, Series A round. This time around, Tamir explains that this recent impressive funding round was for the purpose of keeping the company’s head over the water during the COVID-19 created uncertain times. He adds that “other than that, getting opportunities in our business is impactful - The arms race is on, with the question being which companies will develop the substantial solutions for the worlds of AI/ML, and Explorium serves an almost universal need for organizations to better understand their environment and leverage the data into a competitive edge and growth. The funds allow us to help organizations at a faster rate, as well as recruit more talented people that share our vision.”
Explorium was founded in 2017 by CEO Maor Shlomo, COO Or Tamir, and CTO Omer Har. The three entrepreneurs previously worked together on data-related technology at Natural Intelligence, IronSource, as well as serving in the prestige 8200 unit. The company is based out of Israel but has offices in San Fransisco and Kiev.