Explo was launching its $2.3 million seed round when sources last met with the early-stage business. A lot has changed for the Y Combinator Winter 20 alum since that time in November 2020, when it was a very different period.
Even though the epidemic was at its worst, Explo managed to develop the product and attract its first clients. With the help of that product, you can create personalized business intelligence dashboards that reflect the brand identity of your firm and that you can then integrate on your website or send to clients through email.
At the time of the seed fundraising, Explo co-founder and CEO Gary Lin explained to us:
“In terms of the UI and the output, we had to build out the ability for our end users to create dashboards, for them to embed the dashboards and for them to customize the styles on these dashboards so that it looks and feels as though it was part of their own product,” Lin told sources in November 2020.
When the firm began searching for capital at the beginning of this year, Lin said one of the things they’ve learned along the road is that Explo is a sticky product. This helped the company obtain the most recent $12 million Series A.
Since our previous conversation, he explained, “we have been working nonstop on creating and marketing the product. Around January of this year, we recognized that we were really generating some very strong traction and we believed it could be appropriate to fund a Series A.”
When they were seeking for finance, Lin claims that the venture market was beginning to chill, but they were lucky to receive a solid offer. “We didn’t actually see the same kind of impacts that founders today see. But it definitely wasn’t as hot of an environment as it was in December of the previous year. So I would say that we got very lucky in terms of timing, and we feel very fortunate about that,” he remarked. This year’s March saw them win the round.
To read our blog on “Everstage obtains $13 million in Series A” click here.
