Quantexa, a global data and technology company, has raised $129 million in a Series E round led by Singapore’s sovereign wealth fund GIC, valuing the startup at $1.8 billion. Other investors include Warburg Pincus, Dawn Capital, British Patient Capital, Evolution Equity Partners, HSBC, BNY Mellon, ABN AMRO, and AlbionVC. This funding round is a major step up from their Series D two years ago, raising $153 million at a lower valuation of $800-900 million.
Quantexa specializes in risk management and compliance tools to combat financial fraud, verify user identities, detect money laundering, and carry out financial investigations for over 700 customers across 70 countries including Danske Bank, Vodafone, and the Public Sector Fraud Authority within the UK’s Cabinet Office. CEO and founder Vishal Marria said that the recent round was oversubscribed and that the company has doubled its number of users, revenues, and the industries it targets in the last 18 months.
To capitalize on its latest round of funding, Quantexa plans to use the money to both create new technology and to make acquisitions in order to further grow the company. An example of this is the purchase of Aylien, an Irish startup specializing in natural language processing and AI used to work with unstructured data.
Vishal Marria is the founder and CEO of Quantexa. He has extensive knowledge and experience in management, data sciences, and services related to data analytics. Marria grew the company from a small startup to a billion dollar company in just a few years, positioning Quantexa as a leader in customer data management and online fraud detection. With a successful Series E funding round behind him, Marria is maintaining his ambitious plans for the future of Quantexa, targeting a $100 million revenue for the next year and profitability by 2025.