British Patient Capital has announced a follow-on investment of £4m in Quantexa, a global data and analytics software company, as part of a £104.6m Series E funding round. The company is now valued at more than £1 billion and is BPC’s second unicorn in its direct investment portfolio.

British Patient Capital participated in the funding round alongside lead investor GIC as well as Warburg Pincus, Dawn Capital, Evolution Equity, HSBC, AlbionVC, ABN and BNYM. British Patient Capital’s latest commitment follows on from previous investments in Quantexa’s Series C and D funding rounds in July 2020 and July 2021 respectively. The three investments are part of British Patient Capital’s co-investment programme and have been made alongside British Patient Capital fund manager Dawn Capital.

Headquartered in London, Quantexa connects billions of data points into a single contextual view to enable organisations to make better decisions and uncover hidden risk. Combining an innovative approach and the latest data technology, Quantexa’s Contextual Decision Intelligence platform is used to detect financial crime and find new opportunities across banking, insurance, as well as other enterprises. Quantexa will use the funding to strengthen its market position as a Decision Intelligence category leader and AI innovator whilst continuing to power its global growth.

Catherine Lewis La Torre, CEO, British Patient Capital said: “Quantexa continues to go from strength to strength as it develops a pioneering data analytics and AI technology offering. Under Vishal Marria’s leadership, the business has grown significantly whilst continuing to develop its cutting-edge technology. Quantexa joins an elite group of UK companies reaching a valuation of more than £1 billion, and we are delighted to support an agile and ambitious UK business as it continues to expand.”