- Quantexa set to achieve $100M in ARR by end of 2024, fueled by the growing Decision Intelligence Market worth *$500BN
- New enterprise customers accounted for a 20% (+) contribution to fiscal year ARR
- Closely coupled enterprise Data and AI strategies see Quantexa’s average contract increase 15% in blended ACV in FY24
LONDON and NEW YORK, June 05, 2024 (GLOBE NEWSWIRE) -- Today, Quantexa, a global leader in Decision Intelligence (DI) solutions for the private and public sectors, announced its continued global business momentum and growth highlights from their 2024 fiscal year, dating from April 1st, 2023, to March 31st, 2024. With a focus on helping customers realize the benefits of practical applications of trusted data and AI, the company delivered on its goals of driving sustainable growth through increased platform and solution adoption, geographic, and industry expansion.
Founded in London in 2016, Quantexa now employs more than 700 team members globally across 15 locations. The company completed FY24 with a 40% increase in global Decision Intelligence ARR and a 120% (+) net retention rate.
2024 Fiscal Year Financial Highlights:
- New tier 1 customers acquired across banking, insurance, telecommunications, media, technology, and the public sector, helping to accelerate Quantexa’s market expansion strategy and drive 20% (+) contribution to fiscal year ARR.
- Over 25% of the world’s 50 largest banks have deployed Quantexa’s Decision Intelligence Platform to build a trusted data foundation and realize the benefits of operationalizing AI.
- Decision Intelligence ARR grew more than 30% in the Americas, and >50% in Europe and the Middle East.
- Led by a 30% increase in ARR across its Data Management and FinCrime Solution suites, the company continued driving significant YoY revenue growth with an uptick in adoption of its solution suites, helping industry leaders address specific pain points and take advantage of new revenue opportunities.
- Successful completion of the Aylien acquisition and subsequent integration into Quantexa’s technology portfolio contributed to 16% growth in annual revenue for Quantexa’s News Intelligence offering.
2024 Notable Fiscal Year Milestones:
- In April 2023, Quantexa announced that it had completed a $129M Series E funding round. The latest investment round secured the British tech company’s unicorn status with a valuation of $1.8BN and accelerated the execution of its growth strategy within the **$500BN DI category.
- In July 2023, Quantexa announced that it would invest heavily in the global artificial intelligence (AI) industry over the next three years to help clients advance the use of AI to protect, optimize, and grow their organizations.
- In November 2023, keeping Quantexa close to its customer base, the company announced the opening of its new Asia Pacific Headquarters in Singapore. The opening is part of a broader regional expansion plan and follows the July 2023 launch of Quantexa’s Japan operations in Tokyo and long-standing presence in Melbourne, Sydney, and Malaysia.
- In January 2024, the company detailed the ROI customers receive from deploying its technology across enterprises and public sector agencies, when it published The Total Economic Impact™ of The Quantexa Decision Intelligence Platform study in conjunction with Forrester Consulting.
- Quantexa detailed its innovation platform roadmap in support of its ambitious plan to lead the emerging Decision Intelligence category, anchored in helping enterprises and government agencies use contextual analytics and AI to improve organizational decision making.
- In March 2024, it was announced that Quantexa’s Decision Intelligence Platform will be adopted by the University of Liverpool’s Civic Health Innovation Labs (CHIL) and Mersey Care NHS Foundation Trust, one of the largest trusts providing physical health and mental health services in Northwest England, serving more than 1.4M people.
- A strategic partnership with Microsoft made Quantexa’s Decision Intelligence Platform immediately available on Microsoft Azure Marketplace for financial services organizations and government agencies, the companies also announced exclusive plans to bring the platform to mid-sized banks in the United States. Quantexa is also building a Microsoft Fabric Workload experience.
- Quantexa completed the fiscal year surpassing 750 global employees, 16k active Decision Intelligence Platform users, and a Net Retention Rate (NRR) of 120% (+).
Vishal Marria, Founder and CEO of Quantexa, said: “The acceleration of our efforts to become the world leading provider of decision intelligence technology, and delivering strong, sustainable global growth can be attributed to two things. Our ability to help customers get their data ready for AI, as well as our execution of a series of strategic investments and partnerships. This achievement underscores Quantexa's unwavering commitment to empower our customers to solve some of their toughest challenges across multiple industries in every corner of the globe.”
To learn more about how industry leaders are obtaining a 228% return on investment over 3 years with Quantexa’s Decision Intelligence Platform, download the Total Economic Impact (TEI) Study by Forrester.
*Proprietary market data obtained by Quantexa from a commissioned Gartner study.
**Includes AML, Fraud, and KYC solution suite growth.
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 more than 700 employees and thousands of platform users working with billions of transactions and data points across the world.
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