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Quantexa plans to expand its portfolio by utilizing Aylien’s AI offerings in market insights and risk management.
Aylien, the Dublin-based start-up providing AI-powered services, has been acquired by analytics company Quantexa for an undisclosed amount.
Quantexa said the deal will immediately expand the portfolio of what the company can offer in multiple industries, by utilizing Aylien’s offerings in market insights and risk management.
The analytics company said the new joint offering will help customers create reliable streams of actionable insights across risk and compliance practices, while identifying new opportunities for growth.
Quantexa also plans to increase its R&D investments in the AI and natural language processing (NLP) sectors following this acquisition. The company said it is better positioned to find growth in the decision intelligence sector and is now entering the text analytics market.
“Aylien is a first-class organisation with an impressive team that continues to push the boundaries of what is possible in NLP,” said Quantexa CEO Vishal Marria.
“Their unique approach and commitment to combining research and commercial software development has allowed Aylien to deliver significant value to their customers using AI to extract intelligence for critical decision making.”
This marks Quantexa’s first acquisition since it raised $153m in Series D funding in 2021, to accelerate its regional market expansion plans and build out its product portfolio.
Founded in 2012 by CEO Parsa Ghaffari, Aylien’s products include a news API that lets customers access more than 80,000 global content sources, along with NLP “enrichments” to enhance searches.
The Dublin-based company also helps analysts identify and monitor news data to assess critical business risks and opportunities.
In 2017, Aylien received €2m in a funding round led by Atlantic Bridge University Fund. This was followed by €5m in Series A funding in 2019.
“For over a decade we have helped our customers become more efficient and resilient by using our cutting-edge AI to allow them to put their data in context and make confident decisions,” Ghaffari said.
“Quantexa is experiencing remarkable growth and I am confident that they will leverage Aylien’s offerings and bring their benefits to new solutions and customers.”
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