UK-based data analytics software startup Quantexa has received $20m in series B funding from investors including financial services firm HSBC.
The round was led by venture capital fund Dawn Capital and included Albion Capital, the investment manager that co-led Quantexa’s $3.3m series A round with HSBC in March 2017.
Founded in 2016, Quantexa has built a software platform that combines network analytics, artificial intelligence and real-time entity resolution, enabling users to derive more in-depth insights from disparate data streams.
The technology also has applications in detecting fraud, money laundering, terrorist financing and human trafficking according to Quantexa. It intends to use the series B funding to fuel product development and international growth.
Quantexa CEO Vishal Marria said: “Organisations increasingly need to be confident they are making intelligent, data-driven decisions. We are delighted to have raised this investment to further develop our unique technology and accelerate our international expansion.”