Evolution Equity Partners leads Series C round in Quantexa
Evolution Equity Partners has led a Series C round in Quantexa, a decision intelligence software company that enables organisations to make better decisions, raising a further USD64.7 million in funding.
Existing investors AlbionVC, HSBC, and Dawn Capital also joined the round. In addition to British Patient Capital, ABN AMRO Ventures joined as a new investor alongside previous investor Accenture Ventures. British Patient Capital had a prior exposure to Quantexa via its commitment to Dawn Capital’s third fund.
“This first British Patient Capital direct investment alongside Dawn Capital, one of our fund managers, is a significant step forward to achieving our long-term vision for more home-grown and fully-funded high growth companies to fulfil their potential to be players on the global stage,” said Catherine Lewis La Torre, CEO British Patient Capital.
“We have followed Quantexa’s development closely and given its current client base and growth potential, see a compelling investment opportunity,” she added.
CDI, which Quantexa uses, is an approach to data that gives organisations the ability to join multiple internal and external data sets. The funding is intended to accelerate Quantexa’s growth across the North America, Europe and Asia-Pacific regions, and to grow its partner ecosystem.
Vishal Marria, CEO at Quantexa, said he is seeing a huge demand for the platform to support multiple applications across core markets in financial services and within new industry sectors.
“This investment will accelerate our product innovation roadmap and enable us to invest further into Europe, North America and Asia Pacific regions, as well as expand into new locations,” he added.
This new funding round follows a USD22.7 million Series B round in August 2018, bringing total funds raised to date to USD90 million. Since its inception in 2016, Quantexa has built a client base that supports thousands of users within organisations including HSBC, Standard Chartered Bank and Accenture.