# ExplosionAI

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/explosionai

- Industry: Software
- Headquarters: Berlin, Germany
- Website: www.explosion.ai
- Total disclosed funding: $9M
- Latest round: Series A (Jun 7, 2022)
- Investors on record: 1

## About

ExplosionAI GmbH develops advanced tools for Artificial Intelligence and Natural Language Processing, notably through its flagship products spaCy and Prodigy, enabling efficient document processing and data labeling for diverse industries.Founded in 2016 and headquartered in Berlin, Germany, ExplosionAI GmbH specializes in creating solutions for AI and NLP. The company has successfully raised USD 3.00 mn in Series A funding on June 7, 2022, led by SignalFire, which retained warrants for further investment. The founders include Ines Montani and Matthew Honnibal, with Montani serving as the CEO.Explosion specializes in developing advanced tools and solutions for Artificial Intelligence (AI) and Natural Language Processing (NLP). Its flagship products include spaCy, an open-source library for implementing industrial-strength NLP capabilities, and Prodigy, an annotation tool for efficient data labeling and model training. The company focuses on modular and scalable solutions that cater primarily to the banking, finance, and legal sectors, serving a diverse clientele that includes enterprises, academic institutions, and research organizations. Explosion's products are utilized globally, with specific markets in Europe, North America, and parts of Asia.Explosion generates revenue through software licensing, subscription models, and partnerships for NLP applications. Clients subscribe to their services for access to spaCy and Prodigy, along with tailored support and consulting. The pricing structure allows clients to implement robust NLP systems in-house, with costs varying based on the level of support and features needed, enhancing productivity and data processing efficiency across various industries.In June 2022, ExplosionAI GmbH raised USD 3.00 mn in Series A funding, which will support the development of new products and expansion into additional markets. The company aims to increase its presence in Asia and North America by 2023. The recent funding will also facilitate enhancements to existing products and the introduction of new features to better serve its existing and future customers. Additionally, SignalFire has retained warrants to invest a further USD 9 mn under the same terms.

## Funding rounds

- Series A, Jun 7, 2022, $3M — SignalFire
- Series A, Jun 30, 2021, $6M — SignalFire

## Investors

- SignalFire (https://capitalatlas.ai/funds/signalfire) — Series A