Explorium

Company Overview

Snapshot

Founded in December 2017 by Maor Shlomo, Or Tamir, and Omer Har, Explorium operates with 51–200 employees. The company has raised $125.1 million across 4 funding rounds from 9 investors, with Insight Partners leading a C Round in May 2021. In May 2021, Explorium was recognized by Gartner as a Cool Vendor in AI Core Technologies.

Business overview

Explorium provides an external data platform designed to enhance advanced analytics and machine learning capabilities. Its solution automates the discovery and utilization of thousands of relevant data signals, improving predictive models and overall performance. The platform allows data scientists and analysts to efficiently acquire and integrate third-party data while ensuring compliance. Explorium serves various industries, including FinTech, insurance, consumer goods, retail, and eCommerce, enabling them to boost revenue, streamline operations, and mitigate risks.

Strategic signal

In June 2022, Explorium underwent a workforce optimization, laying off 10-15% of its employees. This indicates a strategic adjustment in response to market conditions or internal restructuring, signaling a focus on efficiency and potentially a recalibration of growth strategies for investors and innovation teams.

Company Intelligence Q&A

What was a significant recent operational change at Explorium?

In June 2022, Explorium implemented a workforce optimization, resulting in the layoff of 10-15% of its employees. This move suggests a strategic adjustment to enhance operational efficiency.

When did Explorium last raise a funding round and who were the lead investors?

Explorium raised a $75 million Series C round in May 2021. The round was led by Insight Partners and Oren Zeev.

What recognition did Explorium receive in May 2021?

In May 2021, Explorium was named a Cool Vendor in AI Core Technologies by Gartner. This recognition highlights the company's platform for addressing challenges in obtaining quality training data and enriching models with external data.

What was the impact of the COVID-19 pandemic on Explorium's business?

The COVID-19 pandemic increased demand for Explorium's data resources as traditional predictive models became less effective. This led to the company doubling its customer base and quadrupling its revenue by May 2021.

Which companies use Explorium's platform for their machine learning models?

Companies such as PepsiCo Optimax and Melio utilize Explorium's platform to build machine learning models for various applications, including lead scoring, risk model improvement, fraud detection, demand forecasting, and customer lifetime value analysis.