London data analytics firm raises $153m to accelerate expansion of AI tech
A London data analytics firm has announced that it has achieved a $153m funding round as it aims to boost its artificial intelligence technology.
Quantexa, based in London and New York, has received the funding through blue-chip names such as Warburg Pincus, and plans to use the funding to accelerate its plans for regional market expansion.
This latest fundraise follows a year of 108 per cent growth for Quantexa during 2020/21, boosted by growth from new clients across geographies and industries.
Vishal Marria, Quantexa’s British CEO, has said that the funding brings him one step closer to using his Artificial Intelligence (AI) and Contextual Decision Intelligence (CDI) techniques to “break the US stronghold” on data analytics.
He commented: “We are thrilled to welcome Warburg Pincus to our team as we continue to accelerate the growth of our global software business and lead the CDI category.
“Warburg Pincus has a distinguished track record and brings deep experience of funding winners globally.
“What excites us most is the growing demand we see across sectors for enterprises to realize meaningful value from their data across the organization. Quantexa is supporting customer innovation so they can make trusted operational decisions.
“We have seen the need for Contextual Decisioning increase exponentially within the financial sector and with this round we are able to capitalize on the growing demand for CDI across multiple new sectors in a market worth over $114bn according to IDC.”
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