Quantexa, a software company known for its Decision Intelligence platform, has raised $175 million in Series F funding; its valuation now stands at $2.6 billion.
While other firms want to double down on anti-scam solutions, the firm wants to put its resources into data-centric AI programs to fight fraud and money laundering.
Investment Surge and Key Investors
Quantexa Secures $175M to Expand AI-Powered Fraud Prevention and Data
Viacheslav Bublyk/Unsplash
The funding round was led by Teachers’ Venture Growth (TVG), a division of the Ontario Teachers’ Pension Plan, with continued backing from British Patient Capital. As per PitchBook data, the latest round brings Quantexa’s total funding to nearly $550 million.
This new influx of capital comes as the company is growing strongly. Quantexa has thousands of enterprise customers and a who’s who client list, which includes Prudential, Vodafone, HSBC, ABN-AMRO, Accenture, and the UK government.
The business has grown to 16 offices globally, employs 800 staff, and reported a 40% increase in license revenue last year.
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AI Adoption in Enterprise: A Key Market Opportunity
Organizations in both private and public sectors are actively adopting AI-based solutions to improve efficiency, reduce costs, and streamline workflows. But most businesses are confronted with a significant hurdle: they have enormous volumes of unstructured, legacy data, which impedes AI adoption.
Quantexa’s data analytics platform, powered by artificial intelligence (AI), was originally created to enable anti-money laundering (AML) and fraud detection. That same technology is now being used to curate data for AI models, making Quantexa the leader in enterprise AI transformation.
What Quantexa CEO Says About AI Success
Quantexa’s founder and CEO, Vishal Marria, says that companies first need to clean and trust their data before implementing AI models.
“To get AI technology to work, you have to get the data right. You have to be able to rely on the data. You have to be able to curate the data. And that’s what we do,” Marria clarified.
Fraud prevention and AML continue to be the foundation of Quantexa’s business, but the company is expanding its activities to provide AI-powered enterprise solutions to multiple industries.
Building Stronger Relationships with Microsoft and Databricks
To drive its AI growth, Quantexa is deepening its collaboration with Microsoft. According to TechCrunch, the organization will introduce an AI-driven workload for the Microsoft Fabric data analytics platform and build an AML solution specifically for U.S. mid-market banks—which will be listed on the Azure Marketplace.
In addition, Quantexa is broadening its Databricks partnership, which was initially announced in June 2024. The collaboration centers on leveraging Quantexa’s technology to handle billions of data records, allowing companies to create generative AI applications with structured and unstructured data.
Increasing AI Adoption in the Public Sector
Another strategic priority for Quantexa is government AI adoption. The firm is developing a specialized public sector division to assist government agencies in leveraging AI for data insight, fraud prevention, and regulatory compliance.
In the UK, the firm has been actively engaged in anti-fraud efforts and is likely to play a leading role in the government’s ambitious “Plan for Change” AI plan.
Investor Confidence in Quantexa’s Vision
Investors are placing their big bets on Quantexa’s potential to disrupt enterprise AI adoption. As for TVG Senior MD Avid Larizadeh Duggan, Quantexa’s CEO is a magnet for talent. She admires Vishal’s talent to get into the customer and the product at a “deep” level.
For the next months or years to come, we will see Quantexa’s fruits in placing AI, data intelligence, and fraud detection in front. Having said that, it’s time for governments and businesses to realize that Quantexa has all the means to use AI to eradicate the alarming money laundering trend.
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