LONDON, Oct. 29, 2024 (GLOBE NEWSWIRE) — Quantexa, a global leader in Decision Intelligence (DI) solutions for the public and private sectors, announced today that it has surpassed $100 million in annual recurring revenue (ARR). This accomplishment sees Quantexa achieve Centaur status, joining an elite group of SaaS businesses recognized in this category – first introduced by Bessemer Ventures Partners.
Achieving Centaur status is seven times rarer than becoming a Unicorn. In April 2023, Quantexa announced that it had achieved Unicorn status, following the completion of its $129 million Series E funding round. The round gave the company a post-money valuation of $1.8 billion. As the latest organization to gain Centaur status, the UK-founded business joins an elite group of companies worldwide that achieve this recognition each year.
Vishal Marria, Founder and CEO of Quantexa, said: “As a UK-founded business, we strive to remain at the forefront of tech innovation, penetrating new markets and industries. At Quantexa, we’ve experienced growth on an unprecedented scale. Thanks to the support of our talented team, trust of our growing customer base, the enthusiasm of our widening partner ecosystem, and the shared vision of our investors, we’ve been able to invest to grow our platform capabilities and global presence which is underpinning our strong momentum leading to this achievement.”
Marria continued, “With a strong platform foundation and innovation pipeline, global footprint and scalable go-to-market strategy, we are well positioned to continue expanding and growing our customer base and meet the demand for cutting edge data unification and generative AI solutions. We are seeing organizations turn to AI to enable multiple use cases, and what we are discovering is that without an enterprise-wide data foundation, it is not possible to operationalize data at scale. Clients are partnering with Quantexa to clean, curate, and contextualize data quickly, preparing it for a range of AI initiatives.”
Recent Significant Business Milestones Since Start of its 2024 Fiscal Year:
- Quantexa gained 30 top-tier global clients, such as U.S. Special Operations Command and Novobanco, as well as leaders in financial services and various government agencies across North America, EMEA, and APAC, increasing Decision Intelligence ARR by 20%.
- Growing existing customer relationships have contributed to > 50% of new Decision Intelligence ARR.
- The company now sees 30% of Decision Intelligence revenue origination from outside of the Financial Services industry.
- Expanding its global footprint to 16 office locations, most recently in Tokyo, Japan and Kuala Lumpur, Malaysia, Quantexa now employs 800 (+) team members and maintains more than 50% of its customer base outside of EMEA.
- In recent months the company signed significant partnership agreements with Microsoft and Databricks to help customers scale data and AI initiatives. Quantexa’s growing partner ecosystem has played a key role in more than 50% of customer wins by priming the market, influencing decisions, and driving sales through the channel.
Decision Intelligence Represents a Multi-Billion-Dollar Market Opportunity
Quantexa’s growth comes at a time of increased demand for Decision Intelligence (DI) solutions from enterprises and government agencies, looking to effectively harness the power of connected, accurate data and AI to enhance decision-making and operational efficiency.
Utilized across more than 100 countries, leveraging data globally, Quantexa’s solutions help tens of thousands of users in banking, insurance, TMTE, and the public sector to solve their biggest challenges and identify new opportunities for growth. Quantexa is well equipped to help customers connect and operationalize their data across departments and functions to create an enterprise-wide data estate for faster, better business outcomes. Quantexa’s Decision Intelligence Platform enables organizations to consistently collect and unify data no matter where or what system it resides in, use knowledge graphs to safely train private AI models, and deploy Generative AI to augment and automate decision making.
The company was recently recognized by IDC as a leader in its Worldwide Decision Intelligence Platform Vendor Assessment, outlining the organizations leading the Decision Intelligence category.
Strong Product Innovation Pipeline Strategic to Next Wave of Growth
To fuel its next wave of growth, Quantexa confirmed that it has a series of new platform capabilities, product, and solution launches scheduled to start rolling out in the first half of 2025. Highlights will include:
- The commercial rollout of Q Assist, the context aware generative AI technology suite to help augment trusted decision-making and automate tasks across teams of front-line and information workers, debuted this past June and is currently in use with a growing group of early adopters including HSBC and BNY Mellon.
- Updates to the Decision Intelligence Platform will enable customers to continue to improve decision making with key capabilities including a low-code approach to automate business and decision processes in enterprise-grade workflows that streamline operations and improve business agility, and new functionality to gain insights from the analysis of unstructured text (text analytics) using machine learning and natural language processes to identify patterns, sentiments, and key characteristics in data. This will help organizations to better understand customer insights, enhance customer support, improve fraud detection and risk management along with compliance and regulatory monitoring.
- The availability of its best-in-class Anti-Money Laundering (AML) capabilities for Mid-Size Banks via its first ever native SaaS solution built on Microsoft Azure, giving customers the ability to monitor, detect, and investigate risk and meet growing compliance demands within IT budget constraints.
To learn more about how your organization can put decision intelligence to work or to read Forrester’s Total Economic Impact™ of the Quantexa Decision Intelligence Platform, visit here.
About Quantexa
Quantexa is a global AI, data and analytics software company pioneering Decision Intelligence to empower organizations to make trusted operational decisions with data in context. Using the latest advancements in AI, Quantexa’s Decision Intelligence platform helps organizations uncover hidden risk and new opportunities by unifying siloed data and turning it into the most trusted, reusable resource. It solves major challenges across data management, customer intelligence, KYC, 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. An independently commissioned Forrester TEI study on Quantexa’s Decision Intelligence Platform found that customers saw a three-year 228% ROI. Founded in 2016, Quantexa now has over 800 employees and thousands of platform users working with billions of transactions and data points across the world.
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