Global AI solutions provider, Quantiphi, raises USD 20 million investment from Multiples Alternate Asset Management
Boston, Mumbai, December 20, 2019 – Quantiphi, a US and India based award winning Applied Artificial Intelligence and Big Data services company, today announced a Series A investment of USD 20 Million from Multiples Alternate Asset Management, India’s leading Private Equity platform with $1.5 Billion under management.
Quantiphi provides Applied AI and Big Data solutions to global Fortune 500 clients across sectors viz. CPG, Insurance, Healthcare, Retail, Media and Entertainment, Ed-tech, and Technology. Quantiphi’s solutions have helped these enterprises create tangible business value by building smarter products, achieving frictionless customer experiences, automating complex processes, and managing risks. This is backed by a Quantiphi’s deep-tech talent base, own IP repository, and industry-leading partnerships, thereby creating a track record of implementing production grade AI at scale. They are a premier AI partner to Google (GCP), Amazon (AWS), Nvidia and TensorFlow. They have been Google Global Machine Learning Partner of the Year for 2017 and 2018, awarded for groundbreaking Machine Learning work in the Google ecosystem, and demonstrated customer success. They are also recipients of Coke One North America Innovation Partner of the Year Award 2019 and Great Indian Workplace Award 2019.
Quantiphi was founded by four friends – Asif Hasan, Reghu Hariharan, Ritesh Patel and Vivek Khemani – over six years ago. They have more than 1,000 employees today, with offices in Boston, Princeton, Toronto, Mumbai and Bengaluru. Growing 2x year-on-year over the past few years, Multiples’ investment will fuel growth, as Quantiphi builds vertical expertise, strengthens its research and development, and scales its global team to deepen its presence in the North American and European Markets.
Renuka Ramnath, Founder and CEO of Multiples said “We are ecstatic to back Quantiphi, who is doing cutting-edge artificial intelligence work and having some of the world’s largest companies as their clients. This is the result of a powerful combination of four founders bringing in complimentary skills, a highly skilled and customer-obsessed team of 1,000+ engineers, and an impeccable client roster. This excited us to partner with Quantiphi, having chased the artificial intelligence thesis for the last two years.”
Quantiphi’s Founders said “We are elated to partner with Multiples on our journey to transform how businesses solve their toughest and most complex challenges using cutting-edge AI and big-data techniques. It has been a great experience working with the Multiples team. Multiples has a unique understanding of entrepreneurs and their attention to the people-factor in every business is rare to find.”
Quantiphi is an award-winning applied artificial intelligence and big data software and services company driven by a desire to solve transformational problems at the heart of business. Quantiphi’s unique approach combines deep industry experience, disciplined cloud and data-engineering practices, and cutting-edge machine-learning research to achieve quantifiable business impact. For more on Quantiphi’s capabilities, visit www.quantiphi.com.
About Multiples Alternate Asset Management:
Multiples is an independent, India-focused private equity firm founded in 2009 by Renuka Ramnath, and backed by global pension funds, sovereign funds, Development Finance Institutions, and other institutional investors. Multiples has investments ranging from minority growth stakes to buyouts, in financial services, technology, consumer, and healthcare and pharma. With close to $1.5 Billion under management and a portfolio of 21 companies, Multiples now has a stellar track record of wealth creation in partnership with entrepreneurs and investors. For more information, visit www.multiplesequity.com.