4 April 2023
British Patient Capital has announced a follow-on investment of £4 million in Quantexa, a global data and analytics software company, as part of a £104.6 million Series E funding round. The company is now valued at more than £1 billion and is BPC’s second unicorn in its direct investment portfolio.
British Patient Capital participated in the funding round alongside lead investor GIC as well as Warburg Pincus, Dawn Capital, Evolution Equity, HSBC, AlbionVC, ABN and BNYM. British Patient Capital’s latest commitment follows on from previous investments in Quantexa’s Series C and D funding rounds in July 2020 and July 2021 respectively. The three investments are part of British Patient Capital’s co-investment programme and have been made alongside British Patient Capital fund manager Dawn Capital.
Headquartered in London, Quantexa connects billions of data points into a single contextual view to enable organisations to make better decisions and uncover hidden risk. Combining an innovative approach and the latest data technology, Quantexa’s Contextual Decision Intelligence platform is used to detect financial crime and find new opportunities across banking, insurance, as well as other enterprises. Quantexa will use the funding to strengthen its market position as a Decision Intelligence category leader and AI innovator whilst continuing to power its global growth.
Catherine Lewis La Torre, CEO, British Patient Capital, said:
“Quantexa continues to go from strength to strength as it develops a pioneering data analytics and AI technology offering. Under Vishal Marria’s leadership, the business has grown significantly whilst continuing to develop its cutting-edge technology. Quantexa joins an elite group of UK companies reaching a valuation of more than £1 billion, and we are delighted to support an agile and ambitious UK business as it continues to expand.”
Notes to Editors
About British Patient Capital
British Patient Capital Limited is a wholly owned commercial subsidiary of British Business Bank plc, the UK government’s economic development bank. Its mission is to enable long-term investment in innovative firms led by ambitious entrepreneurs who want to build large-scale businesses. Launched in June 2018, British Patient Capital has more than £3bn of assets under management, investing in venture and venture growth capital to support high growth potential innovative UK businesses in accessing the long-term financing they require to scale up. Find out more here.
British Business Bank plc and its subsidiary entities are not banking institutions and do not operate as such. They are not authorised or regulated by the Prudential Regulation Authority (PRA) or the Financial Conduct Authority (FCA). A complete legal structure chart for British Business Bank plc and its subsidiaries can be found on the British Business Bank plc website.
British Patient Capital makes commitments and invests on its own behalf and on behalf of third-party investors whose investments British Patient Capital manages.
The transaction described above does not constitute or imply any endorsement, warranty or recommendation by the UK government, the British Business Bank plc, its subsidiaries or any other party of Quantexa or its products or services.
Quantexa is a global data and analytics software company pioneering Decision Intelligence that empowers organizations to make trusted operational decisions by making data meaningful. Using the latest advancements in big data and AI, Quantexa’s Decision Intelligence platform uncovers hidden risk and new opportunities by providing a contextual, connected view of internal and external data in a single place. It solves major challenges across data management, KYC, customer intelligence, financial crime, risk, fraud, and security, throughout the customer lifecycle.
The Quantexa Decision Intelligence Platform enhances operational performance with over 90% more accuracy and 60 times faster analytical model resolution than traditional approaches. Founded in 2016, Quantexa now has more than 600 employees and thousands of users working with billions of transactions and data points across the world. The company has offices in London, New York, Boston, Toronto, Malaga, Brussels, Amsterdam, Luxemburg, Singapore, Melbourne, Sydney, and the UAE. For more information, please visit www.quantexa.com or follow us on LinkedIn.