Quantexa, the data and analytics software firm focused on Contextual Decision Intelligence (CDI), recently revealed that BNY Mellon (NYSE: BK) has completed an investment in Quantexa, to “close its series D” – which was led by Warburg Pincus, an international growth investor, and a growing group of “blue-chip investors.”
As part of the investment, Joseph Sieczkowski, CIO of Engineering and Architecture, BNY Mellon, will be “joining the Quantexa board, and Eric Hirschhorn, Chief Data Officer, BNY Mellon, is joining Quantexa’s advisory board,” according to a release.
As mentioned in the announcement, Quantexa‘s investment follows “a successful 12-month engagement with BNY Mellon using Quantexa’s platform and includes an expanded relationship focused on data fabric innovation at the bank.” The companies are utilizing Quantexa’s strengths in Master Data Management, Entity Resolution, Graph Network Intelligence and AI “to deliver innovative solutions for clients.”
Sieczkowski stated:
“After leveraging Quantexa’s technology, the synergies for BNY Mellon became obvious, and we participated in its series D round of funding. We’re excited to collaborate on a number of new data and analytics technology innovations, which will directly benefit our customers and support Quantexa’s technology as we set new standards across banking, data management, and risk and compliance together.”
Vishal Marria, CEO, Quantexa, remarked:
“We feel exceptionally fortunate to have found not only a great client in BNY Mellon expanding our footprint in North America, but also an innovative collaborator. We’re thrilled with the opportunity to work alongside Joe and Eric whose experience and expertise will be invaluable as we scale to meet increasing demand in enterprise IT and data environments.”
Data analytics is going through transformative changes, as companies and other organizations aimt to make their data “more meaningful to drive trusted operational decision making, with never-before possible levels of efficiency and accuracy,” the announcement noted.
It’s this opportunity Quantexa is “seizing through its North American expansion and innovative projects,” the release noted.