Month: April 2023

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Decision Intelligence Leader & AI Innovator Quantexa Raises Valuation to $1.8 Billion With Completion of Series E Funding Round

GIC leads funding round of $129 million with Warburg Pincus, Dawn Capital and other existing investors participating

Quantexa joins elite group of UK tech companies reaching breakout Unicorn status

LONDON and NEW YORK, April 04, 2023 (GLOBE NEWSWIRE) — Quantexa, a global leader in Decision Intelligence (DI) solutions for the public and private sectors, announced today that it has completed a $129 million Series E funding round. The latest investment round secures the British tech company’s unicorn status with a valuation of $1.8 billion and will accelerate the execution of its growth strategy within the *$230bn Decision Intelligence category.

The round was led by GIC, a global institutional investor, and existing investors also participated, including Warburg Pincus, Dawn Capital, British Patient Capital, Evolution Equity Partners, HSBC, BNY Mellon, ABN AMRO Ventures, and AlbionVC. This investment comes less than 18 months after Quantexa closed its $157 million Series D funding round in July 2021 and just weeks after its acquisition of Aylien, a Dublin-based leader in natural language processing (NLP) and advanced AI.

In what has been a difficult period for many tech companies, Quantexa continues to post impressive growth, having grown their ARR over 100% since closing their Series D round. In the same time period, Quantexa has seen robust growth in all regions, including a breakout performance in North America, with an increase in ARR of over 180%.

The success comes on the heels of Quantexa’s continued geographic expansion efforts which has seen the company grow from 500 to 650 employees over the past year and open new offices in New York City, the UAE, Amsterdam, and a new Technology and Analytics Hub in Malaga Tech Park, Spain, in November 2022. This new capital will ensure that Quantexa continues to grow its global presence and invest in its world-class engineering talent.

Quantexa also plans to use the funding to boost technology innovation efforts and strengthen its Decision Intelligence Platform capabilities in low-code data fusion, graph analytics, machine learning (ML), natural language processing (NLP) and artificial intelligence (AI). Additionally, Quantexa will increase focus on accelerating joint go-to-market efforts with its flagship partners which include Google, Moody’s, Accenture, KPMG, Deloitte, and EY.

Deployed in more than 70 countries, thousands of users across banking, insurance, telecoms industries, and within public sector, rely on Quantexa’s outcome-driven solutions to protect, optimize, and grow their organizations. Quantexa’s growing customer-base includes BNY Mellon, HSBC, Standard Chartered, Danske Bank, Vodafone, and The Public Sector Fraud Authority in the UK Cabinet Office.

Vishal Marria, CEO of Quantexa said, “After closing our Series D investment round, Quantexa has been on a transformational journey, accelerating the growth of our global software business and firmly establishing our leadership position in the emerging Decision Intelligence category. In a challenging market we have doubled our ARR, our user base, and continue to penetrate new markets and industries. This infusion of capital will fuel further innovation, diversification, and expansion, and opens exciting options for our future.

“It’s a real testament to our vision and trajectory to have such a significant contribution from our new investor, GIC and the majority of our Series D investors – in our latest round. We warmly welcome GIC and thank our existing investors for their continued confidence in our ability to generate growth and accelerate the path to profitability.”

*Total addressable market (TAM) estimate is based on Quantexa proprietary research with data from sources including IDC, Chartis, GreySpark (GS), Allied Market Research, and Inkwood Research.

About Quantexa

Quantexa is a global data and analytics software company pioneering Decision Intelligence that empowers organizations to make trusted operational decisions by making data meaningful. Using the latest advancements in big data and AI, Quantexa’s Decision Intelligence platform uncovers hidden risk and new opportunities by providing a contextual, connected view of internal and external data in a single place. It solves major challenges across data management, KYC, customer intelligence, financial crime, risk, fraud, and security, throughout the customer lifecycle.

The Quantexa Decision Intelligence Platform enhances operational performance with over 90% more accuracy and 60 times faster analytical model resolution than traditional approaches. Founded in 2016, Quantexa now has more than 600 employees and thousands of users working with billions of transactions and data points across the world. The company has offices in London, New York, Boston, Toronto, Malaga, Brussels, Amsterdam, Luxemburg, Singapore, Melbourne, Sydney, and the UAE. For more information, please visit www.quantexa.com or follow us on LinkedIn.

About GIC

GIC is a leading global investment firm established in 1981 to secure Singapore’s financial future. As the manager of Singapore’s foreign reserves, GIC takes a long-term, disciplined approach to investing and is uniquely positioned across a wide range of asset classes and active strategies globally. These include equities, fixed income, real estate, private equity, venture capital and infrastructure. Its long-term approach, multi-asset capabilities and global connectivity enable it to be an investor of choice. GIC seeks to add meaningful value to its investments. Headquartered in Singapore, GIC has a global talent force of over 1,900 people in 11 key financial cities and has investments in over 40 countries. For more information, please visit www.gic.com.sg or follow on LinkedIn.

Media Enquiries 
C: Stephanie Crisp, Associate Director and Media Strategist, Fight or Flight
E: Quantexa@fightflight.co.uk

C: Adam Jaffe, SVP of Corporate Marketing
T: +1 609 502 6889
E: adamjaffe@quantexa.com
– or –
RapidResponse@quantexa.com

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CORRECTION – Evident Acquired by Bain Capital: Partnership to Accelerate Future Growth and Innovation

TOKYO, April 03, 2023 (GLOBE NEWSWIRE) — In a release issued under the same headline earlier today by Evident Corporation, please note that the titles of Yuji Sugimoto and Stephen Thomas have been corrected to Partner, and the spelling of Stephen Thomas’s name has been revised. The corrected release follows:

Evident Corporation (“Evident”) announced today that it has been acquired by private equity firm Bain Capital Private Equity (“Bain Capital”) from Olympus Corporation (“Olympus”) pursuant to the definitive agreement signed on August 29, 2022.

Evident was newly established on April 1, 2022 as a wholly owned subsidiary of Olympus comprising the former Scientific Solutions business conducted by Olympus. Headquartered in Tokyo, Japan, Evident conducts business in 24 countries worldwide with more than 4,300 employees.

Supported by Bain Capital, Evident will attain a higher level of agility and faster decision-making to drive innovation-based growth in the life science and industrial markets. Building on a history of more than 100 years of innovation in imaging, instrumentation, and measurement solutions, Evident plans to further expand its portfolio of world-class products, solutions, and services.

Yoshitake Saito, the President and CEO of Evident said “We are very excited about our partnership with Bain Capital because we are convinced that it will enable us to even more strongly fulfill our purpose of becoming a preferred workflow solution partner for a broad range of customers in the life science and industrial markets.”

Yuji Sugimoto, Partner of Bain Capital in Japan, said “Bain Capital is committed to supporting Evident on its sustainable growth path to allow the company to foster an accelerated innovation process.”

Stephen Thomas, Partner of Bain Capital in North America, added “Evident is at the frontier of digital optical technology in the life science and industrial end markets, and has great potential to expand into new products, new customers, and new markets as an independent company.”

About EVIDENT

At Evident, we are guided by the scientific spirit—innovation and exploration are at the heart of what we do. Committed to making people’s lives healthier, safer, and more fulfilling, we support our customers with solutions that solve their challenges and advance their work—whether it’s researching medical breakthroughs, inspecting infrastructure, or exposing hidden toxins in consumer products.

Evident Industrial’s solutions range from microscopes and videoscopes to nondestructive testing equipment and X-ray analyzers for maintenance, manufacturing, and environmental applications. Backed by state-of-the-art technologies, Evident’s products are widely used for quality control, inspection, and measurement.

Evident Life Science empowers scientists and researchers through collaboration and cutting-edge life science solutions. Dedicated to meeting the challenges and supporting the evolving needs of its customers, Evident Life Science advances a comprehensive range of microscopes for pathology, hematology, IVF, and other clinical applications as well as for research and education.

For more information, visit www.EvidentScientific.com

About Bain Capital Private Equity

Bain Capital Private Equity has partnered closely with management teams to provide the strategic resources that build great companies and help them thrive since its founding in 1984. Bain Capital Private Equity’s global team of more than 280 investment professionals creates value for its portfolio companies through its global platform and depth of expertise in key vertical industries including healthcare, consumer/retail, financial and business services, industrials, and technology, media and telecommunications. Bain Capital has 23 offices on four continents. The firm has made primary or add-on investments in more than 1,100 companies since its inception. In addition to private equity, Bain Capital invests across multiple asset classes, including credit, public equity, venture capital and real estate, managing approximately $160 billion in total assets and leveraging the firm’s shared platform to capture opportunities in strategic areas of focus.

For more information, please visit www.baincapitalprivateequity.com.

Media Contact:
Tobias Ruckes, Global Corporate Communications
Tobias.Ruckes@EvidentScientific.com

GlobeNewswire Distribution ID 8801034

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Recovery in Services, Investment to Boost Growth in Lao PDR – ADB

The Lao People’s Democratic Republic’s (Lao PDR) economy is expected to grow moderately this year and next, thanks to the recovery in services and private sector investments as pandemic restrictions are eased throughout the region, according to a new Asian Development Bank (ADB) report today.

(KPL) The Lao People’s Democratic Republic’s (Lao PDR) economy is expected to grow moderately this year and next, thanks to the recovery in services and private sector investments as pandemic restrictions are eased throughout the region, according to a new Asian Development Bank (ADB) report today.

ADB’s flagship publication Asian Development Outlook (ADO) April 2023 forecasts gross domestic product (GDP) growth this year and next at 4%. Fresh investment in renewable energy, including the 600-megawatt Monsoon Wind Power Project funded by a financial package of $692.55 million, and border reopening will give a boost to recovery.

With upgrades to major connectivity infrastructure complete and reopening of borders including with the People’s Republic of China, international tourist arrivals are projected to double to 2.6 million in 2023 from a year earlier. Transit freight is expected to continue its steady expansion, with 1.3 million passengers and 1.9 million tons of cargo transported through the Laos–China railway in 2022.

However, challenges remain. Inflation pressure will remain high in 2023, projected at 16%, before moderating to 5% in 2024. Prices are expected to climb as businesses pass on costs from imported goods and wage increases to consumers. Adjustments are also planned for electricity tariffs. As such, domestic consumption and the job market are expected to remain weak.

“Prospects for economic recovery have improved,” said ADB Country Director for the Lao PDR Sonomi Tanaka. “A concern is that inflationary pressure will remain high in 2023. This poses risks to the balance sheets of households, businesses, and the government. Focus on coordination of policy responses is essential to ensure that economic recovery is inclusive and resilient against future shocks.”

With almost two-thirds of the Lao population currently of working age, the Lao PDR’s young workforce means that more people have potential to be productive and contribute to economic growth. However, high inflation and comparatively low wages mean that many workers are opting to work in neighboring countries, where they can earn more.

The government needs a comprehensive program that addresses macroeconomic vulnerabilities and challenges in the labor market. It is important for the government to support local industrial development through regulatory reform that improves the business environment.

ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region.

Source: Lao News Agency

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Lawyer Project Launched to Strengthen the Role of Lawyers in Advancing Rule of Law and Access to Justice of Lao PDR

Various government representatives, development partners, UN agencies, law firms, and civil society organizations working on the rule of law attended the launch of the Lawyer Project in Vientiane on April 3.

Lawyers play an essential role in strengthening access to justice and the rule of law. They help build public trust in the legal system, foster the protection of people’s rights, and contribute to an appealing political environment for inclusive socio-economic development that leaves no one behind. Yet, the Lao PDR counts less than 400 accredited lawyers to respond to the needs of the people which prompts the need for more lawyers and enhanced capacities.

(KPL) Various government representatives, development partners, UN agencies, law firms, and civil society organizations working on the rule of law attended the launch of the Lawyer Project in Vientiane on April 3.

This project is funded by the Bureau of International Narcotics and Law Enforcement Affairs (INL) and will be implemented for three years under the management of the United Nations Development Programme (UNDP) in close partnership with the Ministry of Justice (MoJ) and the Lao Bar Association (LBA).

The project aims to strengthen the rule of law with a threefold focus based on the metaphor of the Head, the Heart, and the Hands. The first priority of the Head refers to the need for the LBA to strengthen its capacity for strategic visioning and continuous professional development. Mr. Voratsamy Soulipaphanh, the President of the Lao Bar Association, reiterated the importance of this by pointing out the benefit of having a strategy that fits the institutional realities in the Lao PDR and the existing capacities of the LBA.

The Heart refers to the aspiration of empowering not only the LBA but also the lawyers themselves by fostering a network of leading lawyers that are committed to professionalism and high ethical standards. By leveraging mentoring, peer learning, and provincial hubs, the lawyers are empowered to strengthen professionalism from within the community.

Lastly, the metaphor of the hand refers to the need to deliver practical tools for learning and professional development. Mr. Ketsana Phommachanh, the Vice Minister of Justice, echoed this point by emphasizing the importance of assistance that is of practical value and can support lawyers in a tangible way.

Catherine Phuong, Deputy Resident Representative of UNDP, furthermore, emphasized the importance of this project for the wider socio-economic development, “Lawyers help foster stability, enhance accountability, and contribute to a society that is governed by the rule of law in which everybody can enjoy access to justice. Supporting lawyers, therefore, is of critical importance to the inclusive and comprehensive development of the Lao PDR.”

In recognition of gender as a cross-cutting issue, gender equality will be promoted within all activities through a gender-sensitive approach that fosters the leadership of female lawyers and raises awareness about important issues, such as women’s rights and gender-based violence. Moreover, a decentralized approach will be leveraged to make sure the project can impact lawyers and their clients across the country. Mr. William Solley, Director of INL, echoed this point by emphasizing the importance of generating a sustainable impact through activities that can be continued by the LBA and the lawyers after the finalization of the project.

This project is only one intervention that feeds into wider efforts by the government, development partners, and civil society to foster the rule of law. Already this year, a strategy for the LBA will be co-developed and launched, a network of committed lawyers will be established and engaged on various priorities, and the development of a programme for continuous learning will be initiated. These are just some initial steps that will be built upon in 2024 and 2025 to ensure a structural change that can generate a sustainable impact beyond the project itself.

Source: Lao News Agency

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Mekong ministers discuss preparations for 4th MRC Summit

Ministers from Mekong member countries met in Vientiane on Apr 4 to discuss preparations for the 4th Mekong River Commission (MRC) Summit and related meetings scheduled for Apr 5. The meeting was also attended by researchers, experts from the region and other parts of the world. “This ministerial meeting will review achievements made by Mekong River Commission since the adoption of Siem Reap Declaration in 2018 and present the results of the 4th MRC International Conference we have just held which was attended by several hundreds of experts from around the world to brainstorm ideas, innovative mechanisms and cooperation that can ensure secure and sustainable Mekong in the future,” said Minister of Natural Resources and Environment Bounkham Vorachit, who is also Member of MRC Council for the Lao PDR.

(KPL) Ministers from Mekong member countries met in Vientiane on Apr 4 to discuss preparations for the 4th Mekong River Commission (MRC) Summit and related meetings scheduled for Apr 5.

The meeting was also attended by researchers, experts from the region and other parts of the world.

“This ministerial meeting will review achievements made by Mekong River Commission since the adoption of Siem Reap Declaration in 2018 and present the results of the 4th MRC International Conference we have just held which was attended by several hundreds of experts from around the world to brainstorm ideas, innovative mechanisms and cooperation that can ensure secure and sustainable Mekong in the future,” said Minister of Natural Resources and Environment Bounkham Vorachit, who is also Member of MRC Council for the Lao PDR.

The minister noted that over the past 28 years, MRC has made major achievements including the adoption of a common vision for economic prosperity, just society, and healthy and resilient environment in the Mekong region, adding that such achievements resulted from collective efforts and cooperation built on mutual trust from all member countries.

4th MRC Summit is expected to provide the government leaders of MRC member countries the opportunity to reaffirm their top political commitment to cooperation in the Mekong region, the role of MRC and just and sustainable development of water and related resources in the Mekong region.

The Mekong River is one of the world’s great rivers. Covering a distance of nearly 5,000 km from its source on the Tibetan Plateau in China to the Mekong Delta, the river flows through six countries: China, Myanmar, Thailand, Lao PDR, Cambodia and Viet Nam.

The basin is home to one of the richest areas of biodiversity in the world, with more than 20,000 plant species and 850 fish species discovered to date. An estimated 80% of the nearly 65 million people living in the Lower Mekong River Basin depend on the river and its rich natural resources for their livelihoods, making sustainable development crucial for the environment and communities living in the basin

Source: Lao News Agency

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CertiK Launches Skynet for Community Web3 Due Diligence Tool

New York, April 03, 2023 (GLOBE NEWSWIRE) —  CertiK, the leading provider of blockchain security solutions, is excited to announce the launch of Skynet for Community, an all-in-one security, due diligence, and insights platform for the Web3 ecosystem. Skynet for Community empowers users, investors, and community members to make informed decisions about Web3 projects by providing a comprehensive set of tools for research, analysis, and monitoring.

With thousands of Web3 projects creating millions of points of data every day, it’s easy to get lost in the noise. Skynet for Community’s rich data-driven insights help users to discover new projects, conduct due diligence on projects of interest, and keep up to date on the latest news and developments in the Web3 space. The platform aggregates a vast amount of data into Web3’s most accessible due diligence tool.

Skynet for Community puts security front and center, with the Security Leaderboard ranking projects according to their Security Score and market performance. The Verified Teams (KYC) Leaderboard lists and ranks projects based on the status of their CertiK KYC Badge, which is awarded to project teams that undergo a rigorous background investigation.

Skynet for Community evaluates the security of Web3 projects through both manual and automated measures. The platform covers the majority of all Web3 projects using transparent metrics, regardless of their relationship with CertiK.

Manual Signal Scores are determined by CertiK’s research analysts and security experts, who evaluate factors such as the quality of whitepapers, documentation, and other fundamental aspects of the project. Automatic Signal Scores are calculated in real-time by the underlying software and monitoring systems, which evaluate website cybersecurity, security incidents, and other factors. The signals are weighted based on their severity or potential impact, and the aggregate of qualitative and quantitative insights makes up the project’s final Security Score.

Skynet for Community also includes tools such as Exchange Analyzer, which allows users to conduct due diligence on centralized exchanges by displaying their on-chain asset holdings; Skynet Alerts, a system that provides timely notifications on rugpulls and exploits in the cryptocurrency space; and Wallet Analyzer, which provides insights on wallet addresses and makes it easy to visualize and decipher on-chain transactions between wallets.

“Skynet for Community is a revolutionary product that leverages CertiK’s expertise in blockchain security to provide an independent, transparent, and comprehensive evaluation of Web3 projects,” said Professor Ronghui Gu, co-founder and CEO of CertiK. “We are excited to launch this product and offer the Web3 community a powerful tool that makes it easy to do your own research.”

The launch of Skynet for Community marks a new era of transparency and accountability for the Web3 world as it provides a comprehensive evaluation of projects’ security in real-time. With its uniquely comprehensive approach of combining manual and automated measures, CertiK’s Security Score provides an independent lens through which all Web3 projects can be evaluated.

To learn more about Skynet Community and to try out the suite of due diligence tools, visit skynet.certik.com or follow along on Twitter at @CertiK and @CertiKCommunity.

About CertiK

CertiK is a pioneer in blockchain security, leveraging best-in-class AI technology and expert manual review to protect and monitor blockchain protocols and smart contracts. Founded in 2018 by professors from Yale University and Columbia University, CertiK secures the Web3 world, by applying cutting-edge innovations from academia to enterprise, enabling mission-critical applications to scale with safety and correctness. CertiK has audited more than 3,900 Web3 projects and secured hundreds of billions of dollars of market capitalization.

Alnura Belyalova 
Director of PR, Luna PR
alnura@lunapr.io

GlobeNewswire Distribution ID 1000801965