developing· Tech· Updated
Israeli Startup Explorium, Valued at $513 Million, Shuts Down
The Israeli artificial intelligence startup Explorium is shutting down after nearly nine years of operation. Co-founders Omer Har and Or Tamir announced the closure on LinkedIn, citing an inability to translate the company's growth into a sustainable, long-term business model.
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What happened
- 01The Israeli AI startup Explorium is shutting down after nearly nine years of operation.
- 02Explorium raised between $120 million and $130 million from investors, including Insight Partners and Zeev Ventures.
- 03The company reached a peak valuation of $513 million in 2021 during the pandemic tech bubble.
- 04Co-founders Omer Har and Or Tamir announced the closure on LinkedIn, citing the lack of a sustainable business model.
- 05The shutdown will result in layoffs, with reports on the remaining staff size ranging from 40 to over 70 employees.
- 06Explorium was founded in 2017 by Maor Shlomo, Omer Har, and Or Tamir, and once employed up to 150 people.
- 07The company's AgentSource platform is scheduled to officially close by December 2, 2026.
Founded in 2017 by Maor Shlomo, Omer Har, and Or Tamir, Explorium developed a platform to help organizations find and integrate external data to improve machine learning models and business forecasting. During the peak of the COVID-19 pandemic bubble, the company reached a valuation of $513 million and raised between $120 million and $130 million from prominent venture capital firms, including Insight Partners, Zeev Ventures, Emerge, F2 Capital, and 01 Advisors.
At its peak, Explorium employed between 130 and 150 people across Israel and the United States. However, as machine learning tools became more accessible, the company attempted to pivot toward generative AI and automated sales, launching products like AgentSource. Despite these adaptations, the company could not sustain its operations. The closure will impact its remaining staff, with Globes reporting over 70 employees affected and Ice reporting approximately 40 layoffs. The AgentSource platform is scheduled to close by December 2, 2026.
Summarized by baba from the reports of 3 newsrooms. Updated
Latest report: Ice. Read Ice’s originalThe coverage
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