Quantexa has closed a Series C funding round, raising a further £51.2 million.

The round was led by Evolution Equity Partners, with participation from pre-existing backers Dawn Capital, AlbionVC and HSBC. New investors British Patient Capital and ABN AMRO Ventures also joined previous investor Accenture Ventures. Richard Seewald, managing partner at Evolution Equity Partners will join Quantexa’s board of directors as part of the deal.

The money will help drive Quantexa’s Contextual Decision Intelligence (CDI) technology market expansion into new industries such as public sector, while developing more platform applications across financial services and broader cross-sector capabilities. It will also accelerate continued growth across North America, Europe and Asia-Pacific via its global partner ecosystem.

This new round follows a $22.7 million Series B round secured in August 2018, bringing total funds raised to date to $90 million. Since its inception in 2016, Quantexa has built a client and partner base including HSBC, Standard Chartered Bank and Accenture.

CDI lets organisations join multiple internal and external data sets, providing a single view of data about the relationships between people, places and organisations.

Vishal Marria, chief executive at Quantexa, commented: “We are seeing a huge demand for our platform to support multiple applications across our 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.”

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