Without good data, it is impossible to construct an accurate predictive machine learning model. Explorium, a company that has been building a solution for the past several years to help data professionals find the best data for a given model, today announced a $ 75 million Series C – $ 31 million Series Just 10 months after announcing B.
Insight Partners led today’s investment with participation from existing investors Zeev Ventures, Emerge, F2 Capital Ventures, 01 Advisors and Dynamic Loop Capital. The company reports that it has now raised a total of $ 127 million. George Matthews, managing partner at Insight and former chairman and COO at Allerix, will join the board, providing someone with solid operator experience to help guide the company to the next stage.
Company co-founder and CEO Maor Shlomo says that despite how terrible COVID has been from a human point of view, it has been a business accelerator for his company and he saw revenue quadruple last year (though he did not share specific numbers . That). “This is related to the nature of our business. We are helping enterprises and data practitioners find new data sources that can help them solve business challenges,” explained Sholmo.
He says that during the epidemic, many companies had to find new data sources because older data were not particularly helpful for predictive models. This meant that new sources were needed to give customers visibility into market changes and movements to help customers adjust and make decisions during the epidemic. “And seeing what our platform basically does in its essence, we’ve seen a lot of growth [over the past year], “He says.
With the revenue growth the company is experiencing, it is rapidly adding employees to the clip. When we spoke to Explorium last July, there were 87 people in the company. Today that number has risen to 130, with plans to reach 200 by the end of 2021 or early 2022, depending on how the business continues to grow.
The company has offices in Tel Aviv and San Mateo, California, and plans to open a new office in New York City whenever possible. While Shlomo wants a flexible workplace, he is not going away completely with plans to allow people to work two days from home and three days in office, as local regulations allow.