Quantexa hits unicorn status after $129m funding boost

5 Apr 2023

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The UK-based company has grown significantly since 2021, with clients in more than 70 countries using its decision intelligence platform.

Analytics company Quantexa has raised $129m to support its growth in the decision intelligence sector.

The Series E funding round was led by GIC and valued the UK-based company at $1.8bn, turning the company into a UK unicorn.

Existing investors also participated in the round, such as Warburg Pincus, Dawn Capital, British Patient Capital, Evolution Equity Partners, HSBC, BNY Mellon, ABN AMRO and AlbionVC.

The new funding comes less than two years after Quantexa raised $153m in Series D funding to accelerate its regional market expansion and build out its product portfolio.

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

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

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

The company’s CEO Vishal Marria said Quantexa has been on a “transformational journey” since the Series D funding round in 2021, with thousands using the platform in more than 70 countries.

Quantexa said its annual recurring revenue (ARR) has doubled since the Series D funding round, with “robust growth” in all regions.

In February, the company announced its acquisition of Aylien, a Dublin-based start-up that provides AI-powered services in market insights and risk management. At the time, Quantexa said the acquisition would immediately expand the portfolio of what it can offer in multiple industries.

The UK-based company will use the fresh funding to expand its global presence and invest in its engineering talent. Quantexa has grown to 650 employees, with new offices in the US, UAE, Amsterdam and Spain.

“In a challenging market we have doubled our ARR, our user base, and continue to penetrate new markets and industries,” Marria said. “This infusion of capital will fuel further innovation, diversification and expansion, and opens exciting options for our future,”

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Leigh Mc Gowran is a journalist with Silicon Republic