Expansion Funds for Big Data Firm Quantexa

British big data and analytics firm Quantexa has raised $64.7m in a Series C round of funding, which it will use to expand further into North America, Asia Pacific and Europe.

The company, which is headquartered in London, with additional offices in New York, Brussels and Sydney, has developed proprietary Contextual Decision Intelligence technology (CDI) which uses real-time entity resolution with network analytics and artificial intelligence to combine vast and disparate data sets. In 2017, the company raised $3.3m in funding, and doubled the size of its London office; then a year later, management consultancy Accenture invested an undisclosed sum in the business.

The latest round has been led by Evolution Equity Partners, with participation from existing investors Dawn Capital, AlbionVC and HSBC. New investors British Patient Capital and ABN AMRO Ventures also joined previous investor Accenture Ventures in this round, which brings the total funds raised to date to $90m. Quantexa will also use the funds to expand into additional sectors, while developing more platform applications across financial services, and broader cross-sector capabilities.

CEO Vishal Marria (pictured) comments: 'We are thrilled that Evolution Equity Partners and British Patient Capital will be joining our team, alongside the strategic investment from ABN AMRO Ventures. Together with the continued trust and commitment from our existing investors, we will drive the next phase of Quantexa's growth. This investment will accelerate our product innovation roadmap and enable us to invest further into Europe, North America and Asia Pacific regions, as well as expand into new locations'.

Web site: www.quantexa.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.