Quantiphi, an Indo-US based Applied Artificial Intelligence and Big Data services company, has announced a series A investment worth $20 million from Multiples Alternate Asset Management, a private equity platform with $1.5 billion under management. It was founded by Asif Hasan, Reghu Hariharan, Ritesh Patel and Vivek Khemani in 2013.
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 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 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. 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 have more than 1,000 employees today, with offices in Boston, Princeton, Toronto, Mumbai, and Bengaluru.
