NEWS5 April 2023

Quantexa raises $129m investment

AI Data analytics Financials News North America Technology UK

UK & US – Data and analytics software business Quantexa has completed a $129m Series E funding round, with the company planning to invest further in areas including graph analytics, natural language processing and machine learning.

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Founded in 2016, London-headquartered Quantexa offers a ‘decision intelligence’ platform connecting internal and external data.

Quantexa said its latest investment, led by GIC with participation from existing investors, secures its status as a ‘unicorn’ – a private company valued above $1bn. It closed a $157m Series D funding round in 2021.

The funding follows the company’s recent acquisition of Dublin-based natural language processing and artificial intelligence business Aylien.

Quantexa intends to use the funding to strengthen its platform in the areas of low-code data fusion, graph analytics, machine learning, natural language processing and AI. Additionally, it will also look to increase its focus on speeding up joint ‘go-to-market’ efforts with partners.

The company also plans to continue expanding its geographic footprint, following the opening of offices in New York, the UAE, Amsterdam, and a technology and analytics hub in Malaga, Spain. In the past year, it has grown its headcount from 500 to 650 employees.

Quantexa’s customer base includes HSBC, Standard Chartered, Vodafone and The Public Sector Fraud Authority in the UK Cabinet Office.

Vishal Marria, chief executive, Quantexa, said the company had “doubled” its annual recurring revenue since closing its previous investment round in July 2021.

Marria said: “This infusion of capital will fuel further innovation, diversification, and expansion, and opens exciting options for our future.”