Funding Will Accelerate Pursuit of a Growing Market for Automated Financial Crime and Risk Investigation
MENLO PARK, Calif., January 21, 2021 — Quantifind, a provider of solutions that use data science to help automate financial crimes investigations, is proud to announce a strategic growth funding round of $22 million. Quantifind will use the funds to execute its go-to-market sales and marketing initiatives, as well as for continued advancement of its best-in-class solutions for combating money laundering and fraud. Its existing investors are joined by S&P Global, In-Q-Tel, and Snowflake Ventures.
Quantifind’s Graphyte™ platform drives automation in anti-money laundering and fraud investigations by automatically extracting predictive risk signals from vast stores of public data. It is used by customers to automate their risk monitoring and anti-money laundering (AML) investigation processes, focus their resources on their highest-risk transactions, and improve their detection of money laundering. The power of Quantifind’s SaaS platform is easily leveraged through a seamless cloud integration.
“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,” says Steve Krausz, General Partner of US Venture Partners and Quantifind board member.
With this strategic round, Quantifind will also expand the applications of its technology to financial health and intelligence investigations.
“Quantifind is a pioneer in extracting meaning from hidden signals found across disparate data sources,” added Marc Barrachin, Managing Director, New Product Development at S&P Global Market Intelligence. “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.”
“Financial transaction analysis is critical to a range of national security applications, and Quantifind’s technology enables Intelligence Community analysts to perform this work efficiently and accurately at scale,” said A.J. Bertone, Partner at In-Q-Tel. “We are pleased to welcome Quantifind to our portfolio and look forward to providing government agencies the tools they need to make better financial crimes decisions, faster.
“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 defense and intelligence applications.”
Quantifind offers a comprehensive and fully automated screen for external financial fraud and money laundering risk factors. Quantifind provides a single point of entry for all external data that might be relevant to a financial crime investigation. Machine learning intelligence and data curation automation help investigators save 40% of their time and provide consistent reporting to regulators.
Quantifind’s Graphyte platform leverages state-of-the-art entity resolution models learned over millions of training samples and applied in real time. In this way, Graphyte can establish the probability that a given linked data record is in fact a true match.
Unlike other negative news scans or watchlist screening solutions, Graphyte uses artificial intelligence to solve for both accuracy and relevance. Quantifind’s data sources include all of the relevant sanctions and watchlists but also online news in Chinese, English, Spanish, and French, company data, legal entity registrations, and other non-standard entity lists.
Learn more about Quantifind at www.quantifind.com.
About S&P Global
S&P Global (NYSE: SPGI) is the world’s foremost provider of credit ratings, benchmarks and analytics in the global capital and commodity markets, offering ESG solutions, deep data and insights on critical business factors. We’ve been providing essential intelligence that unlocks opportunity, fosters growth and accelerates progress for more than 160 years. Our divisions include S&P Global Ratings, S&P Global Market Intelligence, S&P Dow Jones Indices and S&P Global Platts. For more information, visit www.spglobal.com.
In-Q-Tel, Inc. is the not-for-profit strategic investor that delivers cutting-edge and critically needed technology capabilities that benefits the national security of the United States and its allies. In-Q-Tel achieves this by bridging the gap between the technology needs of our government partners, the changing innovations of the startup world, and the venture community. Learn more at www.iqt.org.