Blockchain
Quantexa Redefines Data and Analytics to Lead Contextual Decision Intelligence Category with $153M Series D Funding
Quantexa, the data and analytics software company pioneering Contextual Decision Intelligence (CDI), today announced it has raised $153M in Series D funding from Warburg Pincus and a growing group of blue-chip investors. This latest fundraise follows an impressive year of 108% growth for Quantexa during 2020/21, boosted by significant growth from new clients across geographies and industries.
This round was led by Warburg Pincus a global private equity firm focused on growth investing with a five-decade track record of handpicking future market leaders. Existing investors participating were Dawn Capital, AlbionVC, Evolution Equity Partners, HSBC, ABN AMRO Ventures and British Patient Capital. The new investment follows a Series C round in July 2020.
Quantexa will use the investment to accelerate its plans for regional market expansion and build out its product portfolio development further in areas such as data management and industry verticals including banking, insurance, public sector, and technology, media and telecom. Quantexa will additionally look for inorganic growth opportunities as part of its corporate strategy.
Deployed across more than 70 countries with thousands of users, Quantexa serves blue-chip banks, insurers and government organizations globally, including 7 of the top 10 UK and Australian banks and 6 of the top 14 financial institutions in North America, with flagship customers such as HSBC and Standard Chartered Bank. Quantexa has also established a growing ecosystem of partners, including Accenture, Deloitte, Microsoft and Google.
Vishal Marria, CEO of Quantexa commented, “We are thrilled to welcome Warburg Pincus to our team as we continue to accelerate the growth of our global software business and lead the CDI category. Warburg Pincus has a distinguished track record and brings deep experience of funding winners globally.”
“What excites us most is the growing demand we see across sectors for enterprises to realize meaningful value from their data across the organization. Quantexa is supporting customer innovation so they can make trusted operational decisions. We have seen the need for Contextual Decisioning increase exponentially within the financial sector and with this round we are able to capitalize on the growing demand for CDI across multiple new sectors in a market worth over $114 billion according to IDC.”
Quantexa’s ground-breaking CDI platform is revolutionizing the data and analytics industry for operational decision making by solving the age-old problem of joining the dots of internal and external data. Using CDI, organizations can create a scalable, true single customer view of data and deploy new data and analytics technologies such as entity resolution, graph analytics and AI, to create graph-based network views, supporting any number of use cases, all from a single software platform.
CDI is helping organizations to take the efficiency and accuracy of their master data, risk and compliance programs to a new level, at a time when cloud migration, digital transformation and resilience have never been more important. Furthermore, Quantexa is championing the use of data for good in areas such as anti-human trafficking.
Adarsh Sarma, managing director and co-head of Europe at Warburg Pincus, said: “Quantexa’s proprietary technology enables clients to create single views of individuals and entities, visualized through graph network analytics and scaled with the most advanced AI technology. This capability has already revolutionized the way KYC, AML and fraud processes are run by some of the world’s largest financial institutions and governments, addressing a significant gap in an increasingly important part of the industry. The company’s impressive growth to date is a reflection of its invaluable value proposition in a massive total addressable market, as well as its continued expansion across new sectors and geographies.”
Peter Deming, managing director and head of financial services across EMEA at Warburg Pincus, added: ”Quantexa’s advanced AI technology has delivered significant productivity gains, cost benefits and substantially mitigated regulatory and operational risks for financial institutions and governments all over the world. The superb management team, led by CEO Vishal Marria, has already secured a world-class client base and we look forward to leveraging Warburg Pincus’ sector expertise and network to support the company on its global expansion across sectors and use cases.”
With thousands of press releases published each week, it can be difficult to keep up with everything on PR Newswire. To help finance journalists and consumers stay on top of the week’s most newsworthy and popular releases, here’s a recap of some major stories from the week that shouldn’t be missed.
The list below includes the headline (with a link to the full text) and an excerpt from each story. Click on the press release headlines to access accompanying multimedia assets that are available for download.
- Prosperity or catastrophe: #Insurance2040 study reveals four possible futures for the industry
By 2040, technological innovation driven by customer centricity could pave the way to greater climate resilience and more personalized offerings by the insurance industry. Alternatively, insurance could become a luxury afforded only to the wealthiest few. - Cardinal Health announces two strategic additions to its portfolio
Cardinal Health will acquire a majority stake in GI Alliance (GIA), the country’s leading gastroenterology (GI) management services organization (MSO), from a combination of GIA physician owners and funds managed by affiliates of Apollo. Cardinal Health will also acquire the Advanced Diabetes Supply Group (ADSG), one of the country’s leading diabetic medical supplies providers, for approximately $1.1 billion in cash. - BlackRock Launches New BUIDL Share Classes Across Multiple Blockchains to Expand Access and Potential of BUIDL Ecosystem
This initiative represents the next step in the evolution of the tokenization market, by enabling BUIDL to be used within leading blockchain-based financial products and infrastructure across ecosystems. - Primo Brands Corporation Announces Successful Completion of Merger of Primo Water and BlueTriton Brands
“I believe Primo Brands is positioned to be a leader in the healthy hydration beverage category, thanks to the strength of its iconic, sustainably-sourced brands, its robust operations and extensive North American network, and its responsible operation of numerous springs across the country,” said Dean Metropoulos, Non-Executive Chairman of the Board of Directors of Primo Brands. - Jackson Hewitt Tax Services Expands Workforce, Offering Job Opportunities Nationwide for Upcoming Tax Filing Season
The week-long event will launch the combined hiring of 18,000 employees to prepare for the upcoming tax filing season. The Jackson Hewitt hiring events are open to the public and include on-site interviews. Qualified candidates could receive a job offer immediately. - PNC Bank to Double Planned Branch Openings to More Than 200 Across Six States This announcement brings the bank’s total investment to approximately $1.5 billion to open more than 200 new branch locations in 12 cities across the U.S. over the next five years, while completing the renovations of 1,400 existing branches during the same time period.
- Alchemy Pay Expands Virtual Card Functionality with Google Pay Support The new card BINs added will significantly enhance the capabilities of crypto cards, expanding their support for a broader range of payment scenarios and improving transaction success rates. This advancement is particularly impactful when paired with Google Pay, one of the most popular and widely used digital payment platforms, trusted by millions for its convenience and security.
- Finaya Unveils Nationwide Homeownership Platform
From providing rich and current information about home values and property conditions, to finding helpful repair and remodeling providers, to shopping for and securing the right insurance, the platform simplifies the homeownership process, making it more accessible, convenient and efficient. - GenAI predicted to inspire revenue growth in 76% of businesses, but only 4% qualify as “leaders” in AI and analytics
Kearney’s report confirms that businesses are not only aware of how big data, AI, and analytics will impact revenue generation and enhance business strategies, but they are investing to stay ahead of the curve, too. - GameAbove Sports Acquires Meaningful Ownership Stake in Brisbane Bullets with NBA Legend George Gervin as Part of Ownership Team
This move marks a significant milestone for GameAbove Sports, a CapStone Holdings Inc. company, as it expands its influence on international basketball ahead of the Brisbane 2032 Olympics. - Most US shoppers are encountering generative AI while shopping without realizing it
A survey of 700 online shoppers in the US shows 71% are unaware of having used generative AI while shopping online even though most had recently shopped at retailers currently using it. 41% of customers say they would feel comfortable using a generative AI tool from a brand they trust.
For more news like this, check out all of the latest finance-related releases from PR Newswire.
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