Total amount raised
$14.3 Millions
Latest funding date
8/1/2022
Location
Explo has successfully raised funding through multiple rounds, with its most recent being a Series A on August 16, 2022. The company is backed by notable investors, including Casey Winters and Craft Ventures.
Keep reading to explore the intricacies of Explo's fundraising journey and the investors backing this innovative platform.
What Is Explo?
Explo, founded on December 1, 2019, is headquartered in San Francisco, California. The company was established by Andrew Chen, Gary Lin, Jonah Hanig, and Rohan Varma.
Explo specializes in providing a data exploration and analysis platform that allows users to connect directly to database or warehouse sources. The platform enables users to explore, analyze, and visualize data without needing SQL.
With a team of 11-50 employees, Explo focuses on delivering customer-facing analytics solutions that can be embedded into various platforms, enhancing user experience and data accessibility.
How Much Funding Has Explo Raised?
- Seed Round
- Amount Raised: $150K
- Date: March 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of their data exploration and analysis platform.
- Seed Round
- Amount Raised: $2.3M
- Date: November 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Series A
- Amount Raised: $12M
- Date: August 2022
- Lead Investors: Craft Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate the product roadmap and enhance platform capabilities for developers.
Total Amount Raised: $14.45M
Current Valuation: Not publicly disclosed
Key Investors
- Craft Ventures
- Details: Craft Ventures is a venture capital firm that led Explo's Series A funding round. The firm is known for its investments in early-stage technology companies.
- Investment Focus Areas: Technology, SaaS, Consumer Internet
- Notable Investments: Airbnb, SpaceX, Reddit
- Felicis Ventures
- Details: Felicis Ventures is a venture capital firm that participated in Explo's Series A funding round. The firm focuses on transformative technologies and companies.
- Investment Focus Areas: Technology, Healthcare, Consumer Products
- Notable Investments: Shopify, Fitbit, Adyen
- Amplo VC
- Details: Amplo VC is a venture capital firm that also participated in Explo's Series A funding round. The firm invests in companies with the potential to solve significant global problems.
- Investment Focus Areas: FinTech, Education, Healthcare
- Notable Investments: Robinhood, Andela, One Concern
- Y Combinator
- Details: Y Combinator is a startup accelerator that provided early backing to Explo. It is renowned for its seed funding and mentorship programs for startups.
- Investment Focus Areas: Technology, SaaS, Consumer Internet
- Notable Investments: Airbnb, Dropbox, Stripe
- Casey Winters
- Details: Casey Winters is an individual investor known for his strategic roles in various tech companies. He has been involved in scaling companies like Pinterest and Grubhub.
- Investment Focus Areas: Technology, SaaS, Consumer Internet
- Notable Investments: Not publicly disclosed
What's Next for Explo?
Explo stands at the cusp of significant growth opportunities, driven by the increasing demand for customer-facing analytics solutions. With a recent $12 million Series A funding round, the company is poised to accelerate its product roadmap, enabling developers to access, visualize, and share data more efficiently. The launch of a self-serve platform for developers to create workspaces and build white-label dashboards further underscores the vast potential for expansion across various sectors, including FinTech, Marketing, Education, and Healthcare.
As Explo continues to grow, future fundraising rounds seem likely, given the substantial market demand and the company's impressive 800% year-over-year growth in customer end-users. However, challenges such as competition from other analytics platforms and the need to maintain robust security and compliance controls could pose hurdles. Ensuring continuous innovation to meet evolving customer expectations will be crucial for sustaining momentum and attracting further investment.
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