Additional Investments Will Expand Quantexa's Global and Industry Footprint and Its Contextual Decision Intelligence Platform As Category-Leading Technology.
Quantexa, the contextual decision intelligence software company, today announced that it has raised $64.7 million in Series C funding. The round was led by Evolution Equity Partners, with major participation from existing investors Dawn Capital, AlbionVC and HSBC to fuel additional growth. New investors British Patient Capital and ABN AMRO Ventures also joined previous investor Accenture Ventures in this round. Richard Seewald, Founding and Managing Partner at Evolution Equity Partners will join Quantexa's board of directors as part of the deal.
Already with thousands of users in more than 70 countries, Quantexa intends to expand further into North America, Asia-Pacific and European territories. The company will deploy its category-leading Contextual Decision Intelligence (CDI) technology into additional sectors such as public sector, while developing more platform applications across financial services and broader cross-sector capabilities. Quantexa will also continue to rapidly grow its global partner ecosystem. This new round of funding follows a $22.7 million Series B round secured in August 2018, bringing total funds raised to date to $90 million.
Vishal Marria, CEO, Quantexa said, "We are thrilled that Evolution Equity Partners and British Patient Capital will be joining our team, alongside the strategic investment from ABN AMRO Ventures. Together with the continued trust and commitment from our existing investors, we will drive the next phase of Quantexa's growth. We are seeing a huge demand for our platform to support multiple applications across our core markets in financial services and within new industry sectors. This investment will accelerate our product innovation roadmap and enable us to invest further into Europe, North America and Asia Pacific regions, as well as expand into new locations."
CDI is an industry-leading, innovative approach to data that gives organizations the ability to join multiple internal and external data sets, to provide a single view of data enriched with intelligence about the relationships between people, places and organizations. Quantexa's pioneering CDI platform maximizes the value of data and transforms decision making across the customer lifecycle for enterprises to improve efficiency and maximize infrastructure investments.
Market-leading clients, such as HSBC, Standard Chartered Bank and OFX, and partners including Accenture and Dunn & Bradstreet trust Quantexa's contextual data approach and open, integrated technology to make informed business decisions across vast volumes of data.
"Quantexa's proprietary platform heralds a new generation of decision intelligence technology that uses a single contextual view of customers to profoundly improve operational decision making and overcome big data challenges. Its impressive rapid growth, renowned client base and potential to build further value across so many sectors make Quantexa a fantastic partner whose team I look forward to working with," added Seewald.
About Quantexa
Quantexa is a contextual decision intelligence software company that empowers organizations to drive better decisions from their data. Using the latest advancements in big data and AI, Quantexa's platform uncovers hidden risk and new opportunities by providing a contextual view of internal and external data in a single place. It solves major challenges across financial crime, customer intelligence, credit risk, fraud and throughout the customer lifecycle.
The Quantexa platform enhances performance with over 90% more accuracy and 60 times faster analytical model resolution than traditional approaches. Founded in 2016, Quantexa now has over 250 employees and thousands of users working with billions of transactions and data points across the world. It has offices in London, New York, Boston, Belgium, Toronto, Singapore, Melbourne and Sydney.
About Evolution Equity Partners
Evolution Equity Partners, based in Palo Alto, New York City and Zurich, Switzerland, invests in fast growing technology companies in North America and Europe helping exceptional entrepreneurs develop market leading companies. The firm has a focus on Cyber-Security and Enterprise Software and its partners have been involved as founders, investors and as senior operating executives in leading software companies around the world.
