Quantexa, data analytics firm, has scored £103.9m in a Series E funding round, lifting its valuation to $1.8bn and becoming a unicorn.
The round was headed by GIC with participation from Warburg Pincus, Dawn Capital, BNY Mellon, HSBC, ABN AMRO, British Patient Capital, AlbionVC and Evolution Equity Partners.
The rise to becoming a unicorn follows a $153m Series D funding round in 2021, where the company saw its valuation climb to between $800m and $900m.
This recent funding round comes off the back of Quantexa’s acquisition of Aylien, a Dublin-based AI-focused company.
Quantexa employs over 600 staff from its global offices, which includes locations in Singapore, UAE and Brussels.
According to UKTN, Quantexa will use its new funding to develop new tools for its patented decision intelligence platform.
Quantexa CEO Vishal Marria said, “In a challenging market we have doubled our ARR, our user base, and continue to penetrate new markets and industries. This infusion of capital will fuel further innovation, diversification, and expansion, and opens exciting options for our future.”
British Patient Capital CEO Catherine Lewis La Torre added, “Quantexa continues to go from strength to strength as it develops a pioneering data analytics and AI technology offering. Under Vishal Marria’s leadership, the business has grown significantly whilst continuing to develop its cutting-edge technology. Quantexa joins an elite group of UK companies reaching a valuation of more than £1 billion, and we are delighted to support an agile and ambitious UK business as it continues to expand.”
Henry Mason – Dawn Capital partner – also remarked that the fundraise is a testament to the strength of Quantexa’s business.
He commented, “Its unique technology provides valuable insights for clients across a myriad of industries from money laundering and credit risk, through to human trafficking and customer acquisition. We have backed the company for five years now and believe more strongly than ever that its unique technology, with the potential to unlock value from vast amounts of data, has the greatest potential to give enterprises a truly connected view of their data to help them make faster, more accurate decisions”.
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