Quantexa recently raised $153 million in its series D funding round led by Warburg Pincus. Many other enterprises participated in the funding, like AlbionVC, HSBC, Dawn Capitals, Evolution Equity Partners, British Patient Capitals, and ABN Amro Ventures.
Last year in the company’s series C funding, it had raised $67.4 million. Quantexa witnessed a growth of 108% in the year 2020-2021, increasing its market valuation to nearly $900 million. Officials expect to reach unicorn status in the near future. The company plans to use this fresh funding to expand to other regional markets, public sector and develop various other security software.
Quantexa is a United Kingdom-based firm that provides a Contextual Decision Intelligence platform. Their software is capable of detecting all sorts of money laundering, credit card frauds, and other financial crimes and also helps companies to manage data effectively. Most of the popular banks in the UK, like HSBC and Standard Chartered bank, use Quantexa’s platform to identify fraudulent activities.
Founder and CEO of Quantexa, Vishal Marria, said, “We’ve diversified outside of financial services and working with government, healthcare, telcos, and insurance.” He further added that the increasing demand for data security software across various industries excites him the most.
The company has now spread across the globe, having branches in countries like the United States, Australia, Singapore, and Canada. Vishal Marria also said that the company is open to acquisitions in order to expand further.
Managing director and co-head of Warburg Europe division, Adarsh Sharma, said, “Quantexa’s proprietary technology enables clients to create single views of individuals and entities, visualized through graph network analytics and scaled with the most advanced artificial intelligence technology.”