Israeli data science company Explorium has raised $31 million in Series B funding. The round was led by existing investor Zeev Ventures and joined by Dynamic Loop, with the participation of seed investors Emerge, 01 Advisors and F2 Capital. It brings Explorium’s total funding to $50 million.
Based in Tel Aviv, the B2B startup has built a data engine, offered either as a standalone product or integrated into its data science platform, which companies can use to inform business decisions. “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,” explains Maor Shlomo, co-founder and CEO.
Earlier this year, Citi accelerator, Intuit, and Visa chose Explorium as the most promising early-stage fintech startup in Israel, citing the data platform’s data application to the financial industry.
In a press release, the startup claims that since its $19 million Series A round in September, it has tripled its customer base and expanded to more industries and verticals. The fresh funding will help the company continue that expansion, add more data into its catalogue and make new hires on both the data science and commercial sides of the business.
Photo: Explorium founders