About Explorance
Explorance is a company based in Montreal (Canada) founded in 2003 by Samer Saab was acquired by Heriot-Watt University in November 2024.. Explorance has raised $19.61 million across 1 funding round from investors including Heriot-Watt University and Invest Quebec. Explorance has completed 2 acquisitions, including Metrics That Matter and Thoransoft. Explorance offers products and services including Blue, MLY, and Metrics That Matter (MTM). Explorance operates in a competitive market with competitors including PowerSchool, Anthology, GoGuardian, Frontline Education and BetterWorks, among others.
- Headquarter Montreal, Canada
- Founders Samer Saab
-
Sectors
TechnologyEducation
-
Email
***********
-
Phone
*********
-
Website
*********
-
Social
*********
- Legal Name Explorance Inc
-
Annual Revenue
-
Net Profit
-
EBITDA
-
Total Equity Funding
$19.61 M (USD)
in 1 rounds
-
Latest Funding Round
$19.61 M (USD), Series B
Nov 30, 2021
-
Investors
Heriot-Watt University
& 1 more
-
Employee Count
Employee Count
-
Investments & Acquisitions
Metrics That Matter
& 1 more
-
Acquired by
Heriot-Watt University
(Nov 13, 2024)
Unlock complete access to The Company Check
Get unrestricted viewing across everything we track — from companies and brands to investors, funding rounds, acquisitions, financials, and more.
- Unlimited viewing on all profiles Companies, investors, financials, funding, acquisitions & directors
- Full access to every database India & global coverage, advanced filters and rich profile details
- Always-on access from your team account Single premium plan for everything you see on the portal
Products & Services of Explorance
Explorance offers a comprehensive portfolio of products and services, including Blue, MLY, and Metrics That Matter (MTM). The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Platform for conducting and analyzing course evaluations in higher education.
AI tool that processes feedback data to provide actionable insights.
Software for measuring and optimizing learning program effectiveness.
Funding Insights of Explorance
Explorance has successfully raised a total of $19.61M through 1 strategic funding round. The most recent funding activity was a Series B round of $19.61 million completed in November 2021. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 1
- Last Round Series B — $19.6M
-
First Round
First Round
(30 Nov 2021)
- Investors Count 1
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Nov, 2021 | Amount | Series B - Explorance | Valuation | Invest Quebec |
|
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Explorance
Explorance has secured backing from 2 investors, including institutional investors. Prominent investors backing the company include Heriot-Watt University and Invest Quebec. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
|
Business guidance for corporate companies and startups
|
Founded Year | Domain | Location | |
|
University offers multiple courses across diversified streams
|
Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
|
Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
|
Founded Year | Domain | Location | |
|
Startup ecosystems are ignited through strategic investments by Signite Partners.
|
Founded Year | Domain | Location | |
|
Venture capital is directed toward companies in multiple sectors.
|
Founded Year | Domain | Location | |
|
Venture capital is invested in cybersecurity, fintech, and AI startups.
|
Founded Year | Domain | Location |
Investments & Acquisitions by Explorance
Explorance has strategically engaged in corporate development activities, having acquired 2 companies. Notable acquisitions include Metrics That Matter and Thoransoft. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
|
Bionic investment advisor platform
|
2016 | ||||
|
Fine Asian gourmet food is offered by an internet-first restaurant.
|
2016 | ||||
|
Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
|
2014 | ||||
|
Fine Asian gourmet food is offered by an internet-first restaurant.
|
2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
|
Software development services are provided from Montreal, Canada.
|
2005 | ||||
|
A platform for evaluating enterprise learning program effectiveness.
|
2000 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
|
OVO is recognized as a smart digital payment application.
|
2017 | ||||
|
Bionic investment advisor platform
|
2016 | ||||
|
Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
|
2014 | ||||
|
Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
|
2014 |
Financial Statements - Explorance
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Explorance Comparisons
Competitors of Explorance
Explorance operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as PowerSchool, Anthology, GoGuardian, Frontline Education and BetterWorks, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Cloud-based software for K-12 education is provided.
|
|
| domain | founded_year | HQ Location |
LMS and CRM solutions are provided for educational institutions.
|
|
| domain | founded_year | HQ Location |
School devices and student activities are monitored via AI platform.
|
|
| domain | founded_year | HQ Location |
SaaS-based platform offering management solutions for schools
|
|
| domain | founded_year | HQ Location |
Online goal setting, tracking and management
|
|
| domain | founded_year | HQ Location |
Cloud-based financial planning and analytics are delivered via SaaS.
|
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
|
|
| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
|
|
| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
|
|
| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
|
Latest news on Explorance
Frequently Asked Questions about Explorance
When was Explorance founded?
Explorance was founded in 2003 and raised its 1st funding round 18 years after it was founded.
Where is Explorance located?
Explorance is headquartered in Montreal, Canada. It is registered at Montreal, Quebec, Canada.
Who is the current CEO of Explorance?
Samer Saab is the current CEO of Explorance. They have also founded this company.
Is Explorance a funded company?
Explorance is a funded company, having raised a total of $19.61M across 1 funding round to date. The company's 1st funding round was a Series B of $19.61M, raised on Nov 30, 2021.
What does Explorance do?
Learning assessment and feedback management platform for educational institutions and enterprises. Its product Blue is an evaluation tool the measures needs, expectations, skills, knowledge, and competencies through course assessment, internal surveys, and other tools. Its other product Bluepulse is a live formative feedback platform that gauges student sentiment, understanding, and progress through ongoing formative feedback, detailed reports, and more. The applications are LTI compliant with Integration with SIS, LMS, HRMS, and more.
Who are the top competitors of Explorance?
Explorance's top competitors include PowerSchool, GoGuardian and Workday Adaptive Planning.
What products or services does Explorance offer?
Explorance offers Blue, MLY, and Metrics That Matter (MTM).
How many acquisitions has Explorance made?
Explorance has made 2 acquisitions, including Metrics That Matter, and Thoransoft.
Who are Explorance's investors?
Explorance has 2 investors. Key investors include Heriot-Watt University, and Invest Quebec.
Book a demo & talk to our team
Share a few details and we’ll reach out to schedule a session.