Data and analytics software firm Quantexa has closed off its Series D funding round with a strategic investment from investment banking company BNY Mellon.
Back in July of this year, Quantexa revealed it had raised $153m in the Series D that was led by Warburg Pincus and saw investments from existing backers including Dawn Capital, ABN AMRO Ventures and HSBC among others.
The company revealed at the time that it was seeking to accelerate regional expansion in the UK and develop new products in areas such as banking and insurance.
Bringing an end to the Series D raise, BNYM completed a strategic investment in the Contextual Decision Intelligence firm following a 12-month engagement between the two companies which saw BNYM use Quantexa’s platform to utilise its strengths in master data management, entity resolution, AI and graph network intelligence.
As part of the investment, BNYM CIO of engineering and architecture Joseph Sieczkowski will join the Quantexa board with BNYM chief data officer Eric Hirschhorn will join Quantexa’s advisory board.
Quantexa CEO Vishal Marria said, “We feel exceptionally fortunate to have found not only a great client in BNY Mellon expanding our footprint in North America, but also an innovative collaborator. We’re thrilled with the opportunity to work alongside Joe and Eric whose experience and expertise will be invaluable as we scale to meet increasing demand in enterprise IT and data environments.”
Sieczkowski added, “After leveraging Quantexa’s technology, the synergies for BNY Mellon became obvious, and we participated in its Series D round of funding. We’re excited to collaborate on a number of new data and analytics technology innovations, which will directly benefit our customers and support Quantexa’s technology as we set new standards across banking, data management, and risk and compliance together.”
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