- Quantexa, a data intelligence startup, has become a unicorn following its latest funding round.
- The London-based company has raised $129 million in a round led by GIC.
- Check out Quantexa’s 9-slide Series E pitch deck below.
Quantexa, a startup that uses AI to help businesses improve their decision-making and clamp down on issues like fraud, just raised $129 million in fresh funds and eclipsed a valuation of $1 billion for the first time.
The London-based company, founded in 2016, works with the likes of HSBC and Vodafone to address issues around compliance and anti-money laundering using automation. The startup positions itself as a “decision-making” platform that provides companies with the best data available to help reduce costs and optimize growth.
The new investment values the business at $1.9 billion, bringing Quantexa’s total funds raised to $370 million.
Quantexa claims to have grown its ARR 100% since it closed its last funding round in July 2021 and will be profitable by 2025, according to CEO Vishal Marria. The company recently acquired Irish natural language processing startup Aylien.
“What’s got us to where we are so far has been organic growth, but we’ve had great traction with our first acquisition, particularly around unstructured data and machine learning,” Marria told Insider. “This is about execution and we’ve created a tiny war chest to help us look at inorganic growth and opportunities in other industry verticals.”
The company had seen a lot of inbound interest from investors leading into this funding round, Marria added. Quantexa’s Series E round was led by GIC, with participation from existing investors including Warburg Pincus, Dawn Capital, AlbionVC, Evolution Equity Partners, HSBC, ABN AMRO Ventures, and British Patient Capital.
Funding will go towards further expanding the company’s headcount, particularly in the US and Europe with plans to increase staff numbers to 720 in 12 months’ time.
Check out Quantexa’s 9-slide pitch deck below:
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