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London, 03 Aug 2018 – Big Data and Enterprise Intelligence scale-up Quantexa, today announced US$20 million (£15.2 million) in Series B funding.
The round is led by Dawn Capital, Europe’s largest B2B technology venture fund focussing on SaaS and FinTech, with return backers HSBC and Albion Capital also participating. The new funding will be used to further develop Quantexa’s unique technology and support its international expansion.
Quantexa uses network analytics and AI to help organisations make better decisions from their data. Its revolutionary technology helps Tier 1 clients solve global problems including money laundering, fraud, terrorist financing and human trafficking.
The investment follows success earlier this year as the firm announced partnerships with Deloitte and HSBC to spot potential money laundering activity, and improving customer insight with Shell.
Founded in 2016, by a team of world-class software, data and advanced analytics experts, Quantexa boasts a workforce of over 90 and engagements with some of the world’s largest organisations. The company is headquartered in London, with offices in Brussels, Sydney, New York and Boston.
Vishal Marria, CEO at Quantexa, said: “Organisations increasingly need to be confident they are making intelligent, data-driven decisions. We are delighted to have raised this investment to further develop our unique technology and accelerate our international expansion.”
Norman Fiore, General Partner at Dawn Capital, commented: “We were particularly impressed by the flexibility of Quantexa’s technology. Currently it provides unique, valuable insights for clients across a myriad of industries from money laundering and credit risk, through to human trafficking and customer acquisition. The firm has experienced tremendous growth to date and we look forward to working closely with the team as they continue to break new ground in data analytics.”
Quantexa enables companies and institutions to make better decisions from their data. Quantexa’s revolutionary technology is based on the latest developments in big data software and uses real-time entity resolution with network analytics and AI to knit together vast and disparate data sets and derive actionable intelligence. It is led by a team of experts with a collective experience of over a century in advanced analytics and data focused solutions. The company is headquartered in London, with offices in Brussels, New York, Boston and Sydney.
About Dawn Capital:
Dawn Capital is a leading early stage VC firm run by entrepreneurs that invests in B2B scale ups across Europe. It supports SaaS and FinTech companies founded by exceptional teams that develop world leading technology to improve business value chains and productivity. Dawn Capital works closely with potential and actual global leaders with operational support and capital as they expand internationally. Dawn Capital’s portfolio companies include Mimecast [NASDAQ: MIME], iZettle [PayPal], Collibra, Gelato Group, iControl [Comcast, ADT], Neo Technology, and Showpad.