Data firm Quantexa hits unicorn status with £104m raise

Data analytics firm Quantexa has entered the unicorn club, reaching a valuation of $1.8bn (£1.5bn) after securing $129m (£103.9m) in Series E funding. Quantexa's funding round was led by GIC, with additional capital coming from Warburg Pincus, Dawn Capital, British Patient Capital, Evolution Equity Partners, HSBC, BNY Mellon, ABN AMRO, and AlbionVC. Several of its backers, including HSBC and BNY Mellon, are also customers of Quantexa. The London headquartered company has developed AI tools to detect and spot fraud and money laundering, along with enterprise intelligence software to assist with business decision-making. The company was previously valued between $800m and $900m in a $153m Series D round in 2021.