Quantexa, the AI-powered business intelligence and risk analytics company, has recently secured a $129 million Series E round led by Singapore’s sovereign wealth fund GIC, valuing the startup at a staggering $1.8 billion. The financing round saw contributions from previous investors Warburg Pincus, Dawn Capital, British Patient Capital, Evolution Equity Partners, HSBC, BNY Mellon, ABN AMRO and AlbionVC.
Quantexa’s technology provides risk and compliance tools to major corporate institutions, financial services organizations, government entities and more. The company’s products are applicable in areas such as customer identity verification, financial investigations, and fraud and money laundering detection. The company boasts hundreds of customers in over 70 countries, an impressive feat which has seen the company double in size within the past 18 months.
The company’s recent fundraise is a testament to the market’s faith in Quantexa’s products and services, which have attracted a myriad of global institutions. Some of Quantexa’s most notable customers are BNY Mellon, HSBC, Standard Chartered, Danske Bank, Vodafone, and the UK’s Cabinet Office Public Sector Fraud Authority.
Quantexa CEO, Vishal Marria, has announced that additional capital will be used to further explore organic and inorganic growth opportunities. This is evidenced by their recent acquisition of the AI, NLP, and unstructured data specialist Aylien. In addition, a portion of funds will be used to provide the company with enough of a cash reserve for at least the next couple of years.
Nowhere was the success of Quantexa more apparent than when the company recently got a sizable raise despite the turbulent market conditions created by the pandemic. In July 2021, Quantexa managed to raise a Series D funding round of $153 million and reach a valuation of somewhere between $800 million and $900 million. This impressive amount has now been surpassed with their latest funding round Surpassed and set a new valuation of $1.8 billion.
Quantexa is on a course to become profitable by 2025, with annual revenues projected to exceed $100 million by the same year. With its recent success, Quantexa appears well positioned to remain a key player in the online risk and compliance technology market.
