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
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Sectors
TechnologyEducation
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Email
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Phone
*********
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Website
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Social
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- Legal Name Explorance Inc
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$19.61 M (USD)
in 1 rounds
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Latest Funding Round
$19.61 M (USD), Series B
Nov 30, 2021
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Investors
Heriot-Watt University
& 1 more
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Employee Count
Employee Count
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Investments & Acquisitions
Metrics That Matter
& 1 more
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Acquired by
Heriot-Watt University
(Nov 13, 2024)
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Products & Services of Explorance
Explorance offers a comprehensive portfolio of products and services, including Blue, MLY, and Metrics That Matter (MTM).
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
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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 |
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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.
| Investor | Description | Founded Year | Domain | Location |
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Business guidance for corporate companies and startups
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Founded Year | Domain | Location | |
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University offers multiple courses across diversified streams
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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.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Software development services are provided from Montreal, Canada.
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2005 | ||||
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A platform for evaluating enterprise learning program effectiveness.
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2000 |
Financial Statements - Explorance
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.
| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Cloud-based software for K-12 education is provided.
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| domain | founded_year | HQ Location |
LMS and CRM solutions are provided for educational institutions.
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| domain | founded_year | HQ Location |
School devices and student activities are monitored via AI platform.
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| domain | founded_year | HQ Location |
SaaS-based platform offering management solutions for schools
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| domain | founded_year | HQ Location |
Online goal setting, tracking and management
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| domain | founded_year | HQ Location |
Cloud-based financial planning and analytics are delivered via SaaS.
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Frequently Asked Questions about Explorance
Explorance was founded in 2003 and raised its 1st funding round 18 years after it was founded.
Explorance is headquartered in Montreal, Canada. It is registered at Montreal, Quebec, Canada.
Samer Saab is the current CEO of Explorance. They have also founded this 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.
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.
Explorance's top competitors include PowerSchool, GoGuardian and Workday Adaptive Planning.
Explorance offers Blue, MLY, and Metrics That Matter (MTM).
Explorance has made 2 acquisitions, including Metrics That Matter, and Thoransoft.
Explorance has 2 investors. Key investors include Heriot-Watt University, and Invest Quebec.