Financial crime investigation company Quantifind secures $22m round

Quantifind, a provider of solutions that use data science to help automate financial crimes investigations, has raised a $22m round.

The anti-money laundering and fraud investigations tech company will use the funds to fuel the growth of sales and marketing initiatives and to keep developing its platform.

“We are fortunate to have the support of a consortium that can truly help Quantifind build upon our success in investigation automation,” said Ari Tuchman, CEO of Quantifind. “As we grow our AML/KYC practice, our team is excited to leverage synergies with S&P Global to offer similar solutions in the field of financial risk, and with In-Q-Tel to expand our footprint in predictive risk signal extraction for defence and intelligence applications.”

Quantifind’s existing investors are joined by S&P Global, In-Q-Tel and Snowflake Ventures.

“In the face of exploding expenses in AML compliance, Quantifind leverages a decade of  machine learning R&D to disrupt the investigative process with much-needed automation,” said Steve Krausz, general partner of US Venture Partners and Quantifind board member.

Marc Barrachin, managing director of new product development at S&P Global Market Intelligence, added, “Quantifind is a pioneer in extracting meaning from hidden signals found across disparate data sources. Data on small- and medium-scale private companies can be minimal or unavailable, and the ability to identify meaningful leading indicators signaling change in their financial health is critical to our customers. The Quantifind technology plays a vital role in extrapolating relevant signals for a large universe of companies.”

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