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“Quantiphi, a globally renowned AI solutions provider, has secured a substantial $20 million investment in a Series A funding round from Multiples Alternate Asset Management, a leading Private Equity platform in India managing $1.5 billion in assets.
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This investment, announced on December 20, 2019, marks a significant milestone for Quantiphi, a company known for its expertise in Applied Artificial Intelligence and Big Data services with operations in the US and India.
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Quantiphi serves Fortune 500 clients across diverse sectors, including CPG, Insurance, Healthcare, Retail, Media and Entertainment, Ed-tech, and Technology, offering them innovative AI and Big Data solutions.
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Their contributions have led to tangible business improvements, such as the development of smarter products, seamless customer experiences, process automation, and risk management. This success is underpinned by Quantiphi’s deep-tech talent pool, proprietary intellectual property, and strategic industry partnerships, showcasing their track record of implementing scalable AI solutions.
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The company is a valued partner of tech giants like Google (GCP), Amazon (AWS), Nvidia, and TensorFlow. They have earned recognition as Google’s Global Machine Learning Partner of the Year for 2017 and 2018, acknowledging their groundbreaking work within the Google ecosystem.
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Quantiphi has also received accolades, including the Coke One North America Innovation Partner of the Year Award 2019 and the Great Indian Workplace Award 2019.
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Founded over six years ago by four friends—Asif Hasan, Reghu Hariharan, Ritesh Patel, and Vivek Khemani—Quantiphi has grown into a company with over 1,000 employees and offices in Boston, Princeton, Toronto, Mumbai, and Bengaluru.
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With consistent annual growth of 2x over recent years, the investment from Multiples will facilitate further expansion. Quantiphi plans to enhance vertical expertise, bolster research and development efforts, and expand its global team to establish a stronger presence in North American and European markets.
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Renuka Ramnath, Founder and CEO of Multiples, expressed enthusiasm about the partnership with Quantiphi, praising their cutting-edge AI work and impressive client base, which includes some of the world’s largest companies.
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She highlighted the synergy between the founders’ complementary skills, the highly skilled team of over 1,000 engineers, and the outstanding client roster as key factors driving the investment decision.
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The founders of Quantiphi shared their excitement about collaborating with Multiples to revolutionize how businesses address their most complex challenges using advanced AI and big-data techniques. They commended the Multiples team for their unique understanding of entrepreneurs and their focus on the human aspect of every business, making this partnership particularly compelling.”