Explosion, a company that has combined an open-source machine learning library with a set of commercial developer tools, announced that it raised $6 million in Series A on a $120 million valuation.
The round was led by SignalFire.
Oana Olteanu from SignalFire will be joining the board under the terms of the deal, which includes warrants of $12 million in additional investment at the same price.
Company: ExplosionAI GmbH
Raised: $6.0M
Round: Series A
Funding Month: September 2021
Lead Investors: SignalFire
Additional Investors:
Company Website: https://explosion.ai/
Software Category: Developer tools
About the Company: Explosion is a software company specializing in developer tools for AI and machine learning and natural language processing. The company goal is to make developers more productive and more focused on their natural language processing, so basically understanding large volumes of text, and training machine learning models to help with that and automate some processes.
Source: https://techcrunch.com/2021/09/02/explosion-snags-6m-on-120m-valuation-to-expand-machine-learning-platform/