Quantexa, one of the rising stars of Britain’s burgeoning AI sector, plans to accelerate international growth after securing $175 million in a Series F funding round.
The investment round, led by Teachers’ Venture Growth (TVG), values the firm at $2.6 billion and saw participation from existing investors such as Dawn Capital, Evolution Equity Partners, AlbionVC, and HSBC.
Quantexa specializes in ‘decision intelligence’, providing financial services firms with AI-based tools to analyze data, identify and mitigate financial risk, and unify siloed data sets.
In an announcement, the company said this latest investment marks a significant milestone in its growth journey. The funding comes just months after it achieved ‘Centaur’ status, meaning it joined a select group of SaaS providers recognized for surpassing $100 million in annual recurring revenue.
Commenting on the investment, CEO and founder Vishal Marria said the firm plans on “reinforcing” its leadership in the rapidly-evolving AI landscape.
"AI is a once-in-a-generation technology transforming industries, redefining operations, and creating entirely new processes. From day one, Quantexa has been at the forefront of this revolution, helping enterprises create trusted, curated data to unlock AI’s full potential,” Marria said.
“This latest investment reflects investors’ embracing our vision and committing to join our journey as we accelerate innovation, platform deployments, and amplify the value we deliver to clients and the broader ecosystem.”
Quantexa targets global growth
In the wake of the investment, Quantexa said it plans to accelerate platform development, “elevate experiences for existing clients”, and expand its presence in North America.
The company also plans to pursue “selected” M&A opportunities and explore new partnerships.
Part of this move will see the firm fast-track its existing Microsoft partnership to launch an AI-powered workload for Microsoft Fabric, as well as a cloud native anti-money laundering (AML) solution for mid-market banks in the US, which will be delivered via Azure Marketplace.
Founded in 2016, Quantexa has grown rapidly in recent years. The firm now boasts over 800 employees and has raised in excess of $500 million in funding. In a prior investment round in March 2023, the firm secured $129 million.
Customer growth has also surged since the 2023 Series E round. Last year, the company recorded 40% license revenue growth, brought on 23 new customers, and expanded its reach beyond financial services to cover the public sector and insurance industry.
Avid Larizadeh Duggan, senior managing director and head of TVG in EMEA, said this rapid growth underscores the company’s long-term potential and demand for its decision intelligence platform.
“Quantexa is revolutionizing how they do this. At TVG, we invest in high-growth, game-changing companies, led by visionary leaders, making a global difference,” Duggan said.
“Quantexa’s impressive track record, expanding customer base, and bold approach to data and AI innovation make it a natural fit for our portfolio. We’re excited to support Vishal, and his world-class team scale the company internationally, as they continue helping industry-leading organizations embrace AI-driven decision-making with confidence.”
MORE FROM ITPRO
-
"I LOVE this company!" Looking back on 50 years of tech giant MicrosoftOpinion There have been highs, lows, laughs and lots of success in the past 5 decades for the Redmond-headquartered firm
-
Verizon Call Filter API flaw could’ve exposed millions of Americans’ call recordsNews A security flaw in Verizon's Call Filter app could’ve allowed threat actors to access details of incoming calls for another user, a security researcher has found.
-
How simplicity benefits the IT partner ecosystemSponsored Content Across private cloud and AI adoption, simple approaches can unlock more time and money for IT teams
-
AI skills training can't be left in the hands of big techNews Speakers at Turing's AI UK conference lay out challenges to AI skills readiness
-
The role of AI and cloud in true digital transformationSupported Content Both cloud computing and AI technologies are vital to pushing your business forward, and combining them in the right way can be transformative
-
Generative AI adoption is 'creating deep rifts' at enterprises: Execs are battling each other over poor ROI, IT teams are worn out, and workers are sabotaging AI strategiesNews Execs are battling each other over poor ROI, underperforming tools, and inter-departmental clashes
-
‘If you want to look like a flesh-bound chatbot, then by all means use an AI teleprompter’: Amazon banned candidates from using AI tools during interviews – here’s why you should never use them to secure a jobNews Amazon has banned the use of AI tools during the interview process – and it’s not the only major firm cracking down on the trend.
-
Starmer bets big on AI to unlock public sector savingsNews AI adoption could be a major boon for the UK and save taxpayers billions, according to prime minister Keir Starmer.
-
AI is now vital to MSP growth, but adoption challenges could hamper successNews Nine-in-ten MSPs say they view AI as a top priority for their growth ambitions in the year ahead.
-
UK firms are pulling ahead of EU competitors in the AI race – here's whyNews UK organizations are pulling ahead of EU competitors in implementing AI, new research suggests, and a key factor lies in their confidence about regulatory compliance.
