Explorium, Augmenting Data Discovery for Better Predictions, Announces $31 Million in Funding to Accelerate Growth – AiThority

Explorium announced that it has secured an additional $31Min funding for its data science platform powered by automated data discovery. The Series B funding round was led by existing investorZeev Venturesand joined by ex-Twitter leaderships01 Advisorsand SirRonald CohensDynamic Loop, with the participation of seed investorsEmergeandF2 Capital.It brings Exploriums total funding to$50 million.

The greatest analytical challenge organizations will face over the next decade is finding the right data to feed their models and automated processes. The right data assets can make or break a company, or even propel a company to market leadership, saidMaor Shlomo, Co-Founder and CEO at Explorium. This is why we built Explorium to help companies discover the most relevant data assets out there, in an automated way. Were proud that our existing investors have doubled down on Explorium, and that new, world-renowned partners have joined them.

Recommended AI News: Alpha Sigma Capital Invests In Blockchain Social Media Platform Hyprr

Explorium empowers companies to build better predictive models by connecting their internal data to thousands of external data sources (including company, geospatial, behavioral, time-based, website data, and more), and then automatically uncovering hidden connections and generating custom signals and new data science features that make predictions more accurate. In doing this, the Explorium platform empowers data scientists by eliminating the barrier to acquire the right data, and business leaders by giving them the ability to make better decisions based on superior predictive power.

Since it announced its Series A funding last September, Explorium has tripled its customer base and expanded to incorporate data relevant to more industries and verticals. In addition to Exploriums Data Engine, either as a standalone product or integrated into its advanced data science platform, the company helps organizations through their machine learning and artificial intelligence transformations, by building models that impact the bottom line and create a competitive advantage.

Recent customers include online small-business lenderOnDeck, global media agencyCrossMedia,small business banking providerBlueVine,online eyewear retailerGlassesUSA,andsmall business loan providerBehalf.Explorium has also partnered with organizations includingAmazon Web Services, cloud data platformSnowflake, and data-driven strategy and consulting firmNova Consulting.

Recommended AI News: HashCash Extends Blockchain Support To Global Pharma Company For Clinical Trials

It was pure serendipity that I met Explorium; they are the greatest startup that Ive encountered over the last several years, saidNicolas Harl, General Manager atNova Consulting Groupand a former Senior Partner and Managing Director at Boston Consulting Group. Explorium is about breakthroughs breakthroughs in the search for external data for machine learning, breakthroughs in the search for the most relevant data for my model, breakthroughs in that its not a one-off, but a continuous process, and breakthroughs for our data ingestion, cleansing, and model monitoring. Explorium permanently searches for data enrichment and improvement, which perfectly fits in the current, uncertain climate and helps us to be permanently adaptive and push forward in our quest for constant improvement.

Explorium is our go-to partner for all things data, saidEinat Aviv, Data Science Director atBluevine. They provide automated access to a wide range of sources and impactful signals, complemented by a strong platform that generates a myriad of features that continually result in more accurate models, driving better business results. Explorium is a great partner and our first stop when developing a new model.

Oren Zeev, founding Partner atZeev Ventures, said Explorium represents a new category in the world of data science, and their success in winning both global brands and fast-growing startups as customers demonstrates that companies desperately need better data and the right tools to make use of it.

Adam Bain, Twitters former COO and Partner at01 Advisors, explained his decision to invest. When I first saw Explorium in action, I thought every company that uses data needs this. Its like an app store for predictive models; you throw them your model and it finds different data to make it work better. Its really that simple. Were excited to be a part of it, he said.

Explorium, founded inTel AvivbyMaor Shlomo,Or Tamir,andOmer Har, was named earlier this year asIsraelsmost promising early-stage Fintech startup by Citi accelerator, Intuit, and Visa for bringing superior external-data-driven predictive decision-making capabilities for the financial services industry. The company will use the new investment to continue its expansion to new business verticals and geographic markets, growing its data catalog and hiring more data science and commercial talent.

Recommended AI News: Yes, There Is A Huge Demand For Salesforce Marketing Cloud Experts: AiThority Interview With Susan Marshall, CEO Of Torchlite

Read the original here:
Explorium, Augmenting Data Discovery for Better Predictions, Announces $31 Million in Funding to Accelerate Growth - AiThority