Israeli automatic data detection platform Explorium announced it has concluded a $ 75 million series of C-series funding led by Insight Partners, with existing investors Zeev Ventures, Emerge, F2 Capital, 01 Advisors, Dynamic Loop Capital, Vintage and Fort Ross Ventures. That brings in $ 127 million of the total amount raised by Explorium.
The company has developed an external data platform that automatically detects thousands of relevant signaling data and uses it to improve analytics and machine learning. Explorium’s external data platform analyzes data models, searches its extensive collection of thousands of external data signals, and automatically detects the most relevant signals to improve analytics and machine learning. Data scientists and business analysts can quickly enrich their predictive models with external data, compare performance improvements, and apply models with just a few keystrokes, with the assurance that all data complies with applicable regulations.
Since the start of the pandemic, Explorium has doubled its customer base and more than quadrupled its revenue. Companies such as BlueVine, GlassesUSA.com, Melio and PepsiCo use Explorium to improve AI models for use cases, including lead scoring, identifying default risks and fraud, and improving analytics such as customer forecasting and customer value.
Explorium was founded in 2017 by Omer Har, Or Tamir and CEO Maor Shlomo,
Shlomo said, “As we saw last year, machine learning models and advanced analytics tools are just as good as the data behind them. And that data is often not enough. We address business-critical needs, guiding data scientists and business leaders on signals that will help them better predict and achieve better business results. “
Posted by Globes, business news in Israel – en.globes.co.il – May 18, 2021
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