Decision Intelligence Leader Quantexa Accelerates Growth by Achieving a 144% Net Retention Rate in FY2022May 31st, 2022
Quantexa continues its leadership of growing Decision Intelligence category by quickening expansion in North America and APAC and further establishing Fortune 1000 customer base.
Quantexa 2, the Company’s Contextual Decision Intelligence Platform, delivered technical innovation with new Data Fusion and Contextual Analytics tools and enhanced Visualization capabilities.
The company continues to invest in expanding its UK presence with 133 employees hired in FY2022 and another 150 plus projected hires in FY 2023.
LONDON, UK and NEW YORK, USA, May 31, 2022 – Quantexa, a global leader in Decision Intelligence (DI) solutions for banking, government, insurance, technology, telecom, and media industries, today announced strong growth across its business and its overall industry expansion in the last financial year, dating from April 1, 2021 to March 31, 2022. Quantexa also announced several new global partnerships, customer wins, and recently hired its 500th global employee. The company projects to end FY2023 with 700 employees.
London-headquartered Quantexa serves companies in over 70 countries and four continents. The company achieved a 144% Net Retention Rate and more than 70% increase in Committed ARR in FY2022. Last year also witnessed a growing foothold across North America and APAC.
North America had a breakout fiscal year and now contributes 30% of total revenue.
After opening a new presence in Luxembourg, Quantexa continued growth in EMEA, which now represents over 50% of its revenue.
Opening offices in Melbourne and Singapore helped to drive growth in the APAC region, making up almost 20% of total revenue.
Quantexa is used by some of the world’s largest banks while diversifying its customer portfolio with major additions from other industries.
While Banking, Quantexa’s flagship industry vertical, continued to see major growth, nearly 30% of Quantexa’s total revenue now comes from, Insurance, Government, and Telecom industries.
Quantexa saw global sales growth across its core solution suites; Contextual Data Management, Financial Crime and Fraud Detection, Customer Intelligence (CI), and Know Your Customer (KYC), reflecting strong demand for new offerings with existing customers and growth in new industries.
Vishal Marria, CEO of Quantexa, said: “Quantexa continues full sail on its journey as a leading player in the fast-growing Decision Intelligence category. We’re proud to retain sustained support from our loyal customers like HSBC and Standard Chartered Bank, and world-leading partners who include Moody’s, Google, and Deloitte. Beyond strengthening our presence in North America and Europe, it is also exciting to see Quantexa attract customers across the APAC region. We look forward to breaking more new ground as a leading Decision Intelligence solution provider with our innovative technology, which is helping to make data meaningful for organizations all over the world, so they can make better, trusted decisions.”
IDC’s recent report with Quantexa confirms this momentum across all global sectors, predicting that by 2024, AI-based investment in AML and fraud technologies will exceed $6 billion globally.
Throughout the past Financial Year, Quantexa continued to invest in the development and evolution of its Decision Intelligence Platform.
In October 2021, Quantexa launched Quantexa 2, the latest version of the company’s Decision Intelligence Platform, responding to a growing global demand for trusted, actionable intelligence from fast-increasing and fragmented data volumes. Helping enterprises face the data explosion, the new platform version introduced powerful capabilities that boost control and functionality, reduce friction, and easily add new data sources to the analytics capability.
Quantexa announced its new customer, Govia Thameslink Railway (GTR) in June 2021, now using Quantexa’s solutions to detect and tackle multifaceted transport fraud.
In July 2021, Quantexa’s momentum was recognized with the Google Cloud 2021 Industry Solution Partner of the Year Award in the Financial Services category, for its achievements in the Google Cloud ecosystem.
Quantexa announced Bank of New York Mellon (BNYM) as its latest customer, as well as Series D investor, in September 2021. The leading bank now benefits from Quantexa’s strengths in Master Data Management, Entity Resolution, Graph Network Intelligence, and AI, continuing to deliver innovative solutions for its clients.
Quantexa announced a new partnership with KPMG UK to optimize organizations’ defences against fraud, money laundering, and illicit finance.
The UK Government’s Cabinet Office signed to use Quantexa’s solutions, to detect fraud stemming from the COVID-19 loan schemes.
Rounding off the financial year in March 2022, Quantexa’s client, major Netherland’s bank ABN AMRO, was awarded the Celent Model Risk Manager Award for use of Quantexa’s technology. Quantexa’s AI-powered analytics solution significantly improved ABN AMRO’s data quality and enhanced the efficiency and intelligence for complex KYC investigations.
Quantexa announced its Series D funding round of $153 million in July 2021, providing further growth funding and confirming its lead in the Decision Intelligence category. Alongside its existing world class investors, the round was led by leading private equity investor Warburg Pincus.
Quantexa is a data and analytics software company pioneering Decision Intelligence that empowers organizations to make trusted operational decisions by making data meaningful. Using the latest advancements in big data and AI, Quantexa’s platform uncovers hidden risk and new opportunities by providing a contextual, connected view of internal and external data in a single place. It solves major challenges across data management, financial crime, customer intelligence, credit risk, fraud, and throughout the customer lifecycle.
The Quantexa platform enhances operational performance with over 90% faster accuracy and 60 times faster analytical model resolution than traditional approaches. Founded in 2016, Quantexa now has over 500 employees and thousands of users working with billions of transactions and data points across the world. The company has offices in London, New York, Boston, Brussels, Toronto, Singapore, Melbourne, and Sydney.