UK-based data analytics software developer Quantexa secured $153m today in a series D round featuring financial services providers HSBC and ABN Amro, the latter through investment arm ABN Amro Ventures.
The round was led by private equity firm Warburg Pincus and also backed by Dawn Capital, AlbionVC, Evolution Equity Partners and British Patient Capital, a fund managed by the state-owned British Business Bank. It valued the company at $800m to $900m, according to TechCrunch.
Founded in 2016, Quantexa provides data-driven intelligence software for banks, financial institutions, insurance companies and government organisations globally.
Using big data, network analytics and artificial intelligence, the platform is able to uncover hidden risk and find information that can improve operations in areas such as data management, financial crime, customer intelligence, credit risk and fraud prevention.
The funding will accelerate the company’s market expansion and further boost product development in the banking, insurance, technology, media, telecoms and public sectors. It will also seek out ‘inorganic growth opportunities’.
Quantexa raised $64.7m in series C funding from investors including HSBC, ABN Amro Ventures and professional services firm Accenture’s corporate venturing arm, Accenture Ventures, in July 2020.
The round also featured British Patient Capital, Dawn Capital and AlbionVC, Accenture Ventures having helped the company close a $22.7m series B round in 2018 that included $20m from HSBC, Dawn Capital and Albion Capital. It had secured $3.3m in a 2017 series A round featuring HSBC and Albion Capital.