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July 13, 2021
The firm is talking about going public
Data and analytics software firm Quantexa has raised $153 million in Series D funding, with Warburg Pincus leading the round.
Existing investors Dawn Capital, AlbionVC, and Evolution Equity Partners were among those who participated in the round.
The newly raised funds will be used to expand Quantexa’s product portfolio into new areas like data management.
"We have seen the need for contextual decisioning increase exponentially within the financial sector and with this round, we are able to capitalize on the growing demand for CDI across multiple new sectors in a market worth over $114 billion,” Vishal Marria, CEO of Quantexa said.
Founded in 2016, the London-based firm has offices in New York, Boston, and Singapore. It works with some of the largest financial institutions, including Standard Chartered Bank and HSBC, which introduced an automated financial crime detection system in mid-2019 that was built in partnership with Quantexa.
The startup’s Contextual Decision Intelligence (CDI) platform allows organizations to deploy data and analytics tools from a single software hub. Users can create graph-based network views to support various use cases.
The platform can be used by financial institutions to detect fraudulent activity as well as help improve efficiency when making investment decisions.
Quantexa raised $64.7 million in Series C funding last July, with Evolution Equity Partners leading that round.
In a recent interview with Forbes, Quantexa’s CEO said he would “love to IPO the business” and is attempting to put the governance process in place to make that happen – although no time frame was provided.
Ben Wodecki is the Jr. Editor of AI Business, covering a wide range of AI content. Ben joined the team in March 2021 as assistant editor and was promoted to Jr. Editor. He has written for The New Statesman, Intellectual Property Magazine, and The Telegraph India, among others. He holds an MSc in Digital Journalism from Middlesex University.
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