San Mateo-based Explorium recently announced that it has raised $31 million in Series B funding, according to a blog post on the company’s website. The capital injection, which brings the company’s total raised to more than $50 million since its founding in 2017, includes participation from new and existing investors. Explorium will use the funding to continue building out its data discovery-powered data science platform.
Explorium offers an automated data science platform uses AI to automatically connect to data sources and distill the most impactful signals for a predictive question. Users can easily build and deploy models right from the platform, as well as connect to thousands of external data sources so customers can scale use cases. Explorium can be used in a number of different ways. The platform can be deployed as part of your data science pipeline or as a managed service.
It’s been a banner year for Explorium after it secured Series A funding last September. The company tripled its customer base and expanded to incorporate data that is relevant to more industries and verticals. Explorium is now partnered with Amazon Web Services, Snowflake, and Nova Consulting as well. Explorium was also named Israel’s most promising early-stage Fintech startup by Citi accelerator, Intuit, and Visa.
In a statement about the news, Explorium Co-Founder and CEO Maor Shlomo said: “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. This is why we built Explorium — to help companies discover the most relevant data assets out there, in an automated way.”
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