Explorium closes $75M Series C Amid Soaring Demand for External Data
Three years ago, we looked at the entire analytics technology landscape, and we took a bet.
Over the last decade, we have witnessed analytical tools and capabilities becoming commoditized, open source booming, and compute power becoming cheaper.
Looking at the trends and believing that the momentum of adoption of analytical tools and processes will only increase, across all verticals, we thought – having access to the right data will become essential. We have a saying at Explorium – “No matter how many advanced gadgets you have in your kitchen, you need the right ingredients to cook a good meal”. We bet that the data itself, not algorithms nor dashboards, will become the greatest challenge and most important component of analytical solutions. Access to the right and relevant data will be the differentiator that sets businesses apart.
We’ve set out on a mission to re-imagine how people find, discover, and utilize new data assets in the context of their business challenges.
We took on the ambitious challenge of answering “what is the right data to use?”, a question that every data practitioner asks himself/herself a thousand times during an analytical project. A few years ago, it was hard to believe that technology and automation could actually provide a solution to this problem.
On the heels of this mission, we’ve assembled a team of fearless, talented individuals who are not afraid to invent, build, fix, throw away bad ideas, partner with visionary customers, and rethink existing paradigms. We’ve introduced the industry’s first Automated External Data Platform. The unique all-in-one platform automatically discovers all relevant data signals, and seamlessly integrates them with internal data. We’re constantly innovating to change the way people do analytics. We are helping business analysts, data scientists, and business leaders find the right data for every question, every model, and every analysis.
As our journey continues, I am excited to share the news that Explorium has closed $75M in Series C funding. The funding brings Explorium’s total investment to over $127M. Eight months after our Series B, this latest capital raise will get us closer to our mission – to reshape the way organizations access external data to build their unique competitive advantage.
We are thrilled to welcome Insight Partners and George Mathew to the team. George is a fantastic individual; his unique view of the industry, his extensive experience, and his kindness will do us well. We are looking forward to working with him. We also welcome Fort Ross Ventures, Vintage Investment Partners joining this round.
I want to thank our customers, our partners, and all Exploriumers who helped us reach this milestone so early in our journey. I would also like to thank our initial investors – Zeev Ventures, Emerge, F2 Venture Capital, 01.Advisors, and DLC – who believed in our vision and supported us early on.
We started Explorium with a bold vision to solve a key challenge in analytics – and we are lucky to have so many great partners joining us in our journey.
As I look back – our bet paid off, and our vision has not changed – we’ve built a platform that automatically discovers, connects, and matches internal data with thousands of relevant external data signals. We wanted to enable companies to quickly find and access the relevant external data to enhance their predictive models and get faster time to insights. We are making that vision a reality.
Given the increasing demand for relevant external data and the challenges associated with obtaining it, we are looking forward to continuing on our mission to help organizations unlock the potential of external data. The additional funding will accelerate our path to growth as we continue to innovate our platform with new features, such as the recently introduced Signal Studio, broader data coverage, expansion into new industries, and supporting more use cases. We’re hiring superstars across all functions (see our open positions here), and we’re expanding our presence in the EMEA and US, including opening new offices for better support to our customers. We are excited to embark on the next phase of our journey.