On February 27, 2023, Quantexa, a leading provider of Decision Intelligence (DI) solutions, announced its acquisition of Aylien, an Ireland-based company specializing in natural language processing (NLP) and advanced artificial intelligence (AI). The acquisition will enable Quantexa's customers to collect, analyze, and understand unstructured text data. As per Gartner®, unstructured data within organizations is increasing at a rate of over 30% YoY.
This acquisition is a significant step for Quantexa as it marks the company's entry into the $11 billion text analytics market. It is the company's first acquisition since raising $153 million in its Series D funding round in late 2021, led by Warburg Pincus and a group of blue-chip investors. The acquisition aligns with Quantexa's growth strategy to offer enhanced value to existing customers and create offerings for adjacent markets in the $230 billion Decision Intelligence space.
Aylien, founded in 2012, offers a News API that aggregates multilingual content from over 80,000 trusted sources across the web, traditional media, and licensed news outlets for developing intelligent applications. It also provides an application for analysts to investigate, identify and monitor news data to assess critical business risks and opportunities.
Aylien's market insights and risk management solutions immediately expand Quantexa's portfolio of offerings across multiple industries. Customers will now be able to create real-time and reliable streams of actionable insights across risk and compliance practices, identify new opportunities for growth, and stay ahead of potential risks.
Quantexa plans to increase its research and development investments in the AI and NLP space following the acquisition. The company will build on Aylien's success in an advanced state-of-the-art deep learning-based NLP research program. Based in Dublin, Ireland, the program has over 30 team members and four world-class university partnerships. The team currently supports over 40 enterprise customers and has produced research cited in over 700 academic publications.
About Quantexa
Quantexa is a leading data and analytics software company specializing in providing Contextual Decision Intelligence to organizations worldwide. By utilizing big data and artificial intelligence, it empowers organizations to make informed operational decisions by uncovering hidden risks and new opportunities through a contextual, connected view of external and internal data in a single platform. The company's platform addresses challenges across multiple areas, including data management, customer intelligence, KYC, financial crime, fraud, risk and security, throughout the customer lifecycle. Headquartered in London, it has offices in Amsterdam, Spain, New York, Brussels, Boston, Toronto, Singapore, UAE, Sydney and Melbourne.