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That’s a Wrap! See Quantexa’s 2023 Pivotal Moments
Investments, innovations, and expanding partnerships helped Quantexa continue to shape and pioneer the Decision Intelligence category.
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The Decision Intelligence category showed remarkable growth in 2023 as enterprises and government agencies sought data and analytics technology to improve the quality of their data and augment and automate decision-making. Solutions that allow them to see their data in context to reveal a full, 360-degree view of their customers and constituents were highly sought after in providing a pathway to better, more confident decision-making.
This was great news for Quantexa as we continued to grow with new technology innovations that were recognized by industry stalwarts, expanding and strengthening our strategic partnerships, and delivering against our geographic expansion plans.
The growing interest in Decision Intelligence and the demand for new solutions that put data in context were recognized by major analyst firms like Gartner which distinguished Decision Intelligence as a category that is driving growth, and opening up new use cases and revenue streams in a growing number of industries.
Quantexa’s Decision Intelligence Platform provides businesses and agencies with powerful solutions that turn ambiguous, siloed data into a trusted, reusable resource that organizations can rely upon to drive better decision-making by harnessing the power of Entity Resolution and Graph Analytics.
Though there were many wins for Quantexa this year, here is a quick look back at 10 of the company’s most notable achievements in 2023.
1. We became the first UK unicorn in 2023
Quantexa established itself as a Decision Intelligence category leader and secured a valuation of $1.8 billion in its Series E funding round in April to become the first UK unicorn in 2023.
In a year that proved challenging for many tech companies, Quantexa continued to post impressive gains from our Series D round to April 2023, growing ARR over 100%. In the same period, we saw robust growth in all regions, including a breakout performance in North America, which saw an increase in ARR of over 180%.
2. We committed to taking AI innovation to the next level
As part of our ongoing commitment to providing best-in-class innovation and solutions, like our new Generative AI technology, Q Assist, we announced that we are investing over $155m in the global artificial intelligence industry over the next three years to help our clients advance the use of AI to augment and automate Decision Intelligence. By 2027, our total global investment in AI will reach more than $250m.
We also furthered our commitment to advancing our existing AI Stack to enable its growing global ecosystem of clients and partners to unlock new industry-specific use cases for financial services, insurance, telecommunications, healthcare, and the public sector. We are proud to announce that our Decision Intelligence Platform and suite of solutions for data management, customer intelligence, KYC, risk, fraud, and financial crime have now been deployed in more than 70 countries.
3. Our category-leading technology was recognized globally
Among the many accolades received this year, Quantexa was noted as a leading vendor in several Gartner reports, including Artificial Intelligence in Banking, Venture Capital Growth Insights for Decision Intelligence Platforms, and Hype Cycles for Analytics and Business Intelligence.
Quantexa was also highlighted as a notable vendor in the Forrester report, The Master Data Management Landscape, Q1 2023. The report recognizes that as more organizations struggle to scale with today’s data volumes, having an innovative MDM solution is increasingly mission-critical to eliminate costly inefficiencies brought on by data silos and to serve the diverse needs of organizations.
Quantexa also gained recognition from Celent, a global research and advisory firm providing technology expertise to key decision-makers at financial institutions, for its standout technology in the 2023 xCelent Anti-Money Laundering (AML) Transaction Monitoring (TM) Report, an independent resource that helps financial institutions select an AML vendor best suited to meet their needs.
Celent credited Quantexa for “pioneering the use of entity resolution […] to power granular, deep network analysis to support the forensic investigation of financial crimes.”
4. More industry leaders discovered the Quantexa difference
This year we welcomed Vodafone, ING, the UK Cabinet Office, and many others to our world-leading client roster.
Much of our success stems from the fact that we remain committed to the success of our global customers across banking, insurance, telecommunications, government, and the public sector to solve the toughest industry challenges.
In May, ING announced that it would deploy our Decision Intelligence Platform to gain a 360-degree view of customer data, identify risk, and continue advancing their world-class customer experiences. Being a global bank serving 37 million customers, corporate clients, and financial institutions in 40 countries, ING is determined to protect its customers and fight financial crime.
The UK Cabinet Office awarded Quantexa with a new contract in 2023 to help the government recover public-sector debt. The Public Sector Fraud Authority (PFSA), which was set up last year to help public bodies tackle fraud against the public purse, is working with Quantexa to use new data and cutting-edge technology, including AI, to find and prevent more fraud across the public sector.
We were also proud to be recognized by Mahendran Samiappan, CEO of ISM Insurance Services who said, "A few things made Quantexa stand out: the advancements in network analytics, the advanced investigation exploration and visualization capabilities to our member groups across 20+ insurance companies help with ease of use, and the openness of the solution enables self-sufficiency and reduces cost management."
5. We completed our first company acquisition
One of the big highlights for us this year was the acquisition and integration of Aylien, an award-winning provider of AI-based risk and market intelligence solutions, to unify the world of structured and unstructured data and empower customers to collect, analyze, and understand unstructured text data.
The move accelerates the next phase of our business growth strategy to provide enhanced value to existing customers and create offerings for adjacent markets in the $230bn Decision Intelligence space. Aylien’s innovative offerings in market insights and risk management immediately expanded the portfolio of solutions we can offer in multiple industries, now known as Quantexa News Intelligence.
The joint offerings now empower customers to create real-time and reliable streams of actionable insights across risk and compliance practices and identify new growth opportunities. Customers can now stay one step ahead of potential risks with the ability to proactively monitor their entire risk landscape across ESG, third parties, reputational issues, and operations beyond compliance and controls.
6. We celebrated several awards and achievements
Quantexa secured awards from across the globe including Google Cloud's Industry Solutions Technology Partner of the Year for Line of Business Processes, which recognizes partners that have, "used Google Cloud solutions to create compelling technology solutions that made an impact on one industry across regions."
We were also chosen from over 1500 applications to be included in Bloomberg UK’s Startups to Watch list after the financial news organization canvassed the UK to find 25 startups that represent the diversity and innovation of the country’s startup scene.
Other awards of note included Quantexa's recognition by Chartis as a Category Leader in its RiskTech 100 Report for Trade-Based Money Laundering Solutions and for Financial Crime - Entity Risk Management, Best AI/ML of the Year, and RegTech of the Year.
7. Quantexa made news headlines around the world
Quantexa was featured in several publications and news outlets worldwide this year including Bloomberg, TechCrunch, Business Insider, Datanami, and AiThority.
We were also very pleased to have Faisal Islam from BBC News visit our headquarters to chat about the transformative impact AI is having on the UK's economy, productivity, and growth.
8. We turned shared visions into real solutions with our Partner Ecosystem
This year marked several "firsts" for Quantexa as we built on our already strong partnership foundation by holding our first-ever Partner Advisory Board.
We also took our first global tri-party insurance roadshow around the world. We are proud to report that we have now registered nearly 300 partners on our Partner Program with 115 Partner Certifications completed.
One of the big moments for us this year was the announcement of the global availability of our Decision Intelligence Platform and solutions on Google Cloud Marketplace, making it simple for global enterprise customers to trust their data and make quicker and more informed decisions to protect, optimize, and grow their business.
This partnership enables customers to quickly deploy Quantexa’s Decision Intelligence solutions globally on Google Cloud’s secure and sustainable infrastructure, providing organizations in banking, insurance, telecommunications, and the public sector the ability to connect their data across siloed systems, create context, and visualize complex relationships for accurate operational decision-making.
9. We continued to grow across the globe
Part of our continual and growing investment in Quantexa can be seen in both the expansion of our footprint worldwide, with new offices and increasing workspaces, and the addition of new staff in key locations. With the opening of our latest office in Singapore, Quantexa now has over 700 employees in 16 offices across the globe.
The Singapore office opening is part of our broader regional expansion plan and follows the July 2023 launch of our Japan operations in Tokyo and long-standing presence in Melbourne, Sydney, and Malaysia. Locating our office at Marina Bay Financial Centre Tower 1 provides the perfect base for our continued Asia Pacific expansion plans; solidifying our commitment to attracting the very best in investment, talent, and technology.
We also have plans to add another new location in Kuala Lumpur, which will act as our Asia Centre of Excellence.
Increasing our office space in several key locations was also a big commitment in 2023. Our new office in the heart of downtown Boston increases our employee capacity significantly. And we’ve secured a new space in Brussels at the Avenue des Arts, a stone’s throw from the royal palace.
We added a second office next door to our existing site at the Technology Park in Malaga, Spain, doubling our capacity. And plans for new offices in Toronto, Sydney, and Melbourne are also underway.
In all these cases, adding new offices, increasing existing office space, and staffing up will help upgrade our colleague experience and position us to service our customers even better.
10. QuanCon made its return for its fourth year
QuanCon23 was a huge success with industry trailblazers, customers, partners, and the Quantexa team coming together to discuss the trends and challenges that are shaping our customers’ industries, and the innovations that will impact the future of our businesses. And next year it'll be even bigger!
We hope you will join us as we continue this innovation and growth journey together at the QuanCon24 event on March 12, 2024.
Join us at QuanCon24
To round off the year, and in the spirit of giving back, we have donated to two charities on behalf of Quantexa – The Childhood Trust, London’s child poverty charity, and International Justice Mission, a global organization that protects people in poverty from violence.
As we look to the future, our goal is to continue to bring innovative solutions to the marketplace in 2024 to satisfy the growing demand for Decision Intelligence technology that allows enterprises and government agencies to amplify the quality of their data as a trusted source to drive better decision-making.
To better understand how you can maximize your organization's ROI on data with Decision Intelligence, please contact us. Together we can help create your roadmap to the future with trusted data that's an engine for growth.
