Quantexa to Boost AI and Analytics Investment with Series E Round
Quantexa, a UK-based company that develops a decision intelligence platform designed to help banks, telecommunication providers, and government agencies uncover risks and opportunities hidden in their data, this week announced a $129 million Series E round of funding at a $1.8 billion valuation. CEO Vishal Marria says the firm will use the money to broaden the scope of AI and analytics it provides.
“The injection of Series E capital will be used to further innovate in low-code data fusion, graph analytics, machine learning (ML), natural language processing (NLP), and artificial intelligence (AI),” Marria tells Datanami. “These applications will drive our efforts to build more intelligent and intuitive solutions for our customers, revolutionizing how they make complex decisions, solve challenging problems, and generate growth.”
Quantexa says the past year has brought brisk sales for Contextual Decision Intelligence (CDI), its flagship data analytics platform, which brings data analytics, AI, NLP, and graph techniques together to analyze customers’ internal and external data. The offering helps address challenges that organizations face across data management, know your customer (KYC), customer intelligence, financial crime, risk, fraud, and security. Customers to date include BNY Mellon, HSBC, Standard Chartered, Danske Bank, Vodafone, and The Public Sector Fraud Authority in the UK Cabinet Office.
Quantexa, which is headquartered in London, says it has enjoyed a 100% increase in annual recurring revenue (ARR) since closing its Series D in July 2021. Business has been particularly brisk in North America, where its ARR has grown 180%, the company says. Headcount for Quantexa has grown from 500 to 650 employees over the past year, and it has opened new offices in New York City, the UAE, and Amsterdam. It also opened a new Technology and Analytics Hub in Malaga Tech Park, Spain, last November.
The Series E round was led by GIC, a global institutional investor. Existing investors that also participated include Warburg Pincus, Dawn Capital, British Patient Capital, Evolution Equity Partners, HSBC, BNY Mellon, ABN AMRO, and AlbionVC. The company has raised $370 million to date.
The company also looks to bolsters its go-to-market strategy with partners including Google, Moody’s, Accenture, KPMG, Deloitte, and EY.
“In a highly competitive landscape, we have achieved remarkable success by doubling our annual recurring revenue and expanding our customer base across diverse markets and industries,” Marria says. “This is testament to how our Decision Intelligence Platform has been able to help organizations create trusted data sets to solve their biggest data challenges.”