Quantexa raises $153m to build out its AI-based analytics platform

13 Jul 2021

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The UK-based company will use the investment to accelerate its plans for regional market expansion and build out its product portfolio.

Analytics company Quantexa is aiming to revolutionise the data industry with its latest round of funding.

The company received $153m in Series D funding in a round led by private equity firm Warburg Pincus.

Other participating investors included Dawn Capital, AlbionVC, Evolution Equity Partners, HSBC, ABN AMRO Ventures and British Patient Capital.

Founded in 2016, Quantexa uses contextual decision intelligence (CDI), which combines context with data science models to automate most decisions.

The company said CDI helps organisations to take the efficiency and accuracy of their data, risk and compliance programmes to a new level.

Through big data and AI, the platform uncovers hidden risks and solves other major challenges across data management, financial crime, customer intelligence and fraud.

The technology can help financial institutions prevent crimes ranging from money laundering to sex trafficking and child exploitation.

The company now has more than 350 employees with offices in London, New York, Boston, Washington DC, Brussels, Toronto, Singapore, Melbourne and Sydney.

Vishal Marria, CEO of Quantexa, said the team is excited to accelerate the growth of the company. “What excites us most is the growing demand we see across sectors for enterprises to realise meaningful value from their data across the organisation,” he said.

“Quantexa is supporting customer innovation so they can make trusted operational decisions. We have seen the need for contextual decisioning increase exponentially within the financial sector and with this round we are able to capitalise on the growing demand for CDI across multiple new sectors.”

Peter Deming, managing director and head of financial services across EMEA at Warburg Pincus, said Quantexa’s advanced AI technology has delivered “significant productivity gains, cost benefits and substantially mitigated regulatory and operational risks” for financial institutions and governments.

“The superb management team, led by CEO Vishal Marria, has already secured a world-class client base and we look forward to leveraging Warburg Pincus’ sector expertise and network to support the company on its global expansion across sectors and use cases,” said Deming.

The latest round of funding follows a Series C round last year, which brought in $64.7m for the company.

Jenny Darmody is the editor of Silicon Republic