UK-based data and analytics software company Quantexa has raised $153 million in its Series D funding round.
The firm says it will use the investment to accelerate its plans for regional market expansion and boost its product development.
The round was led by US private equity firm Warburg Pincus, whose other investments include Metavante/FIS, Avaloq and Clearwater Analytics.
Existing investors including Dawn Capital, AlbionVC, Evolution Equity Partners and HSBC also participated.
Founded in 2016, Quantexa’s Contextual Decision Intelligence (CDI) platform utilises big data and AI to uncover hidden risks and new opportunities by providing a connected view of internal and external data in a single place.
The firm says the platform solves challenges across data management, financial crime, customer intelligence, credit risk and fraud.
It counts HSBC and Standard Chartered Bank among its “thousands” of customers across 70 countries.
Vishal Marria, CEO of Quantexa, says: “We have seen the need for Contextual Decisioning increase exponentially within the financial sector, and with this round we are able to capitalise on the growing demand for CDI across multiple new sectors in a market worth over $114 billion according to IDC.”
The new investment follows the company’s $64.7 million Series C round in July 2020.
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