Big Data scale-up Quantexa raises £15m
Big Data and enterprise intelligence scale-up Quantexa has secured more than £15 million in funding.
The investment follows continued success this year as the firm announced partnerships with Deloitte and HSBC to help prevent money laundering activity and improving customer insight with Shell.
British Patient Capital, the new wholly-owned commercial subsidiary of the British Business Bank, is an investor in Dawn Capital and Quantexa is one of the first businesses to be supported through the new programme.
Founded in 2016 by a team of software, data and advanced analytics experts, Quantexa now has a workforce of over 90 and engagements with some of the world's largest organisations
"Leveraging AI to build context is becoming critical to enable organisations to make better decisions," said Vishal Marria, CEO at Quantexa.
"With this investment we will further expand our offerings using our unique technology and accelerate our international expansion following the opening of our New York and Boston operations."
Norman Fiore, general partner at Dawn Capital, added: "We were particularly impressed by the flexibility of Quantexa's impressive technology.
"Currently it provides unique, valuable insights for clients across a myriad of industries from money laundering and credit risk, through to human trafficking and customer acquisition.
"The firm has experienced tremendous growth to date and we look forward to working closely with the team as they continue to break new ground in data analytics."