Israeli Data Startup Explorium Shuts Down After Nine Years
Israeli data startup Explorium is shutting down after nine years, impacting over 70 employees. The AI-focused company once raised $120 million and reached a $513 million valuation.
Israeli data startup Explorium is shutting down its operations after nearly nine years, resulting in layoffs for its more than 70 employees. Co-founders Omer Har and Or Tamir announced the closure in a LinkedIn post, bringing an end to a company that once reached a valuation of $513 million during the height of the tech boom.
Founded nine years ago by Maor Shlomo, Omer Har, and Or Tamir, Explorium developed a data-driven platform leveraging artificial intelligence for business insights. During the pandemic-era venture capital surge, the company raised over $120 million from prominent venture capital funds, including Insight Partners and Zeev Ventures. In 2020, it was ranked fifth on the list of promising startups by local business media, alongside high-growth tech firms.
Maor Shlomo served as CEO until 2023 before moving on to co-found Base44, a vibecoding startup later acquired by Wix. Following Shlomo's departure, Omer Har took over as CEO in July 2023 in an effort to steer the company through shifting market conditions.
«After nearly nine years, Explorium is ceasing operations. We founded Explorium out of a belief in the power of AI for business, and that AI is only as good as the data behind it», Har and Tamir wrote in their announcement.
