Explo, a leading customer-facing analytics solution for sharing data across any platform, yesterday (Tuesday) announced $12 million in Series A funding. The round was led by Craft Ventures with participation from Sarona Partners' venture capital arm Sarona Ventures, Felicis Ventures, and Amplo VC.
The technological revolution has led data to be at the forefront of nearly everything we do, both from a personal and business standpoint. With the data and digital usage exploding at unprecedented levels, especially due to the post-pandemic trends of application modernization and digital data collection, many organizations are finding themselves stuck, as they lack the resources and tools to properly access and share data with customers. Moreover, any existing data and business intelligence tools on the market were designed for internal use, without customer-facing use cases in mind. These factors lead to data silos which in turn undermine efforts to deliver exceptional digital customer experience. Companies are therefore looking for alternative paths to seamlessly enable secure data sharing with their customers. They need to look no further, as Explo has the perfect solution for them.
Reinventing how businesses share data with customers
Explo uses a developer-friendly platform to help access, visualize, and share data with customers. Their product emphasizes accelerating time to deploy, customizable design, and robust security and compliance controls. Unlike competitors, there are no complicated integration cycles or limited embedding options– with Explo, organizations can deploy production-ready data sharing capabilities in a matter of days rather than spending months writing code to fit the unique needs of customer-facing analytics. So, Explo ensures the reduction of both engineering and deployment time, which significantly lowers the costs of deploying an embedded analytics solution for customers. With Explo, companies can easily connect directly to their database or warehouse, build custom-styled dashboards, and securely embed them into their web app quickly and efficiently.
Explo saw some impressive performance in 2021, as they achieved an 800% YoY increase in customer end user growth. The capital raised for this round will be used to continue this growth by accelerating Explo’s product roadmap to help developers more efficiently access, visualize, and share data with their end customers at scale.
In a conversation with Geektime, Philippe Bouaziz, Chairman and Managing Partner at Sarona Partners, stated that “Explo is bringing an excellent product to a market we live and breathe every day; our value-add to the company is huge given our large startup portfolio. We are glad to be able to participate in this round and excited to support the company's growth further!" He further explained that with Sarona Ventures’ $20 million fund, he and the firm are looking forward to investing in other innovative startups that strike their eyes.
Explo was founded in 2019 by Andrew Chen (COO), Gary Lin (CEO), and Rohan Varma (CTO). To date, they have raised a total of $15 million, and work with some of the leading brands in fintech, marketing, education, healthcare, and the broader SaaS space. The company is also backed by Y Combinator and executives from Notion, Doordash, Flexport, dbt, Webflow, Mercury, Lyft, Deel, and more.