IVIX, an AI-powered platform focused on helping governments combat financial crime at scale, has raised $60m in a Series B funding round.
The company, which uses large language models (LLMs), advanced graph analytics and publicly available data, is headquartered in New York with offices across Europe, South America, Asia and the U.S.
The round was led by O.G. Venture Partners (OGVP) with further backing from Insight Partners, Citi Ventures, Team8, Disruptive AI, Cardumen Capital and Cerca. This latest investment brings the company’s total funding to $85m.
IVIX provides governments with technology designed to illuminate hidden financial activity and disrupt illicit networks. Its AI solution helps law enforcement agencies identify offshore assets, shell companies, money laundering schemes and other forms of financial crime. To date, the company has supported authorities across the U.S., Europe and Asia, enabling them to uncover billions of dollars in illicit transactions and assets.
With the fresh funding, IVIX intends to expand research and development capabilities and drive broader adoption of its platform. The company said the investment will allow it to enhance its ability to help global authorities stay ahead of evolving challenges such as cryptocurrency anonymity, high-speed micro-transactions and the growth of global e-commerce.
The firm has highlighted how traditional financial crime investigations face major hurdles due to opaque structures like offshore accounts and layered laundering systems. These challenges are now compounded by modern technologies and a $20tn global shadow economy. IVIX’s AI-driven approach uses open-source intelligence (OSINT) to index the internet from a financial perspective, providing insights into criminal networks that conventional tools may miss.
IVIX co-founder and CEO Mattan Fattal said, “For decades, publicly available data has been underutilized in combating complex financial crime due to its scattered, opaque nature and challenges in deriving actionable insights. At IVIX, we’ve embraced this mission. By assembling top-tier tech talent, investing in focused research, and leveraging the new era of LLMs combined with modern graph algorithms, we deliver impactful results to our customers. This is the most complex technology I’ve ever worked on, and it’s a true pleasure. Our Series B success positions us to advance our capabilities and help more authorities around the world stay ahead of the rapidly evolving shadow economy. Together with our investors and partners, we’re committed to delivering innovative solutions that create meaningful impact at scale and serve the greater public good.”
OGVP managing partner Ziv Kop added, “IVIX is at the cutting edge of transformative AI technology, delivering breakthrough solutions that address some of today’s most complex challenges. The innovative ability of their technology to unearth illicit financial activities is not just impressive, it’s critical for governments in the digital age. OGVP is excited to lead this new financing round, its third in the B2G digital space, and to partner with IVIX in this period of rapid growth as they expand their impact and help governments deliver better services and stronger security for their citizens.”
The company was founded in 2020 by security experts and tech veterans Mattan Fattal and Doron Passov. Prior to this round, IVIX had already raised $25m in previous financing.
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