Quantexa updates data analytics platform to help firms tackle growing data volumes

Data and analytics software business Quantexa has unveiled the latest release of its data analytics platform to help companies tackle the rapid proliferation of data.

According to Quantexa, Quantexa 2 comes online at a time when recent revelations of tax avoidance scams – such as the Pandora Papers – are growing, with an increasing need for companies to have better insight into huge and fast-increasing data volumes.

The company remarked that Quantexa 2 helps users see deeper into their data and work more efficiently by introducing powerful new capabilities that boost control, functionality and reduce friction.

Users of Quantexa 2 will also be to set up an implementation quickly and easy, due to the platform being able to streamline deployment with low-code/no-code capabilities. This will, Quantexa claims, allow data scientists and develops to work ‘the way they want to’. In addition, the updated platform will make data exploration ‘more accessible’ with a new set of features that Quantexa claims will make navigation simpler and let users visualise data in a way relevant to their needs.

The Quantexa 2 will introduce contextual search for unstructured data, which will enable the platform to make use of unstructured sources including news and human authored intelligence and will enhance the platform’s existing investigative capabilities – a solution that is already accelerating productivity by up to 80% in global organisations.

Vishal Marria, CEO of Quantexa said: “Almost every organisation today is dealing with the impact of ever-increasing amounts of disjointed data. As the pandemic has accelerated digital transformation, it is clearer than ever that better ways need to be found to harvest, accurate, actionable intelligence from this huge corporate resource.

“With Quantexa, teams are now empowered to use data and see connections and relationships like never before to spot business-critical risk and opportunity. The team has worked tirelessly across the industry ecosystem, to develop the world’s easiest to use and most effective CDI platform, one the C-suite as well as user teams can rely on to gain the insights they would otherwise have missed for effective operational decisions.”

Quantexa CTO Jamie Hutton added, “So often data analytics tools miss sources which turn out to be very useful for creating the real-world picture behind the data. This could be as varied as news feeds or even human intelligence. At Quantexa we keep advancing our capabilities so our users can see ever further into their data. Our platform empowers developers and data scientists to work smarter, not harder. The effortless data exploration we achieve with this platform will provide a better experience, increased efficiency and greater user adoption.”

This recent product update follows the company’s large Series D funding closure earlier this year, building its original $153m Series D raise in July. Participating in the round were Warburg Pincus, BNY Mellon, ABN AMRO and British Patient Capital.

The firm also recently formed a deal with KPMG in the UK, which will see it deploy its technology to help the auditing giant with combating international financial crime.

Quantexa has recorded a strong 2021 to date. So far this year, it has doubled its staff, grown its revenue by 108% and increased its customer base by 10x.

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