BNY Mellon has completed a strategic investment in Quantexa Technology, to close its series D led by private equity firm Warburg Pincus.
As part of the investment, Joseph Sieczkowski, chief information officer of engineering and architecture at BNY Mellon, will join the Quantexa board, while Eric Hirschhorn, the bank’s chief data officer, will bring his expertise to its advisory board.
BNY Mellon has invested in Quantexa, a data management and analytics fintech based in the UK, after using its solution for 12 months. Their expanded relationship will focus on data fabric innovation at the global bank.
Sieczkowski comments: “After leveraging Quantexa’s technology, the synergies for BNY Mellon became obvious, and we participated in its series D round of funding. We’re excited to collaborate on a number of new data and analytics technology innovations, which will directly benefit our customers and support Quantexa’s technology as we set new standards across banking, data management, and risk and compliance together.”
Vishal Marria, chief executive officer at Quantexa, adds: “We feel exceptionally fortunate to have found not only a great client in BNY Mellon expanding our footprint in North America, but also an innovative collaborator. We’re thrilled with the opportunity to work alongside Joe and Eric whose experience and expertise will be invaluable as we scale to meet increasing demand in enterprise IT and data environments.”
Prior to confirmation of BNY Mellon’s participation, Quantexa revealed the value of its series D funding round, led by Warburg Pincus and involving a growing group of blue-chip investors, to be $153 million.