IVIX, a New York-based startup specializing in AI-powered financial crime detection, has successfully closed a $60 million Series B funding round, bringing its total capital raised to $85 million. The round was led by O.G. Venture Partners and included participation from Insight Partners, Citi Ventures, Team8, Disruptive AI, Cardumen Capital, and Cerca. The company plans to use the funding to enhance its software, strengthen research and development, and expand its operations into new markets.
Founded in 2020, IVIX has developed a platform that leverages large language models, advanced graph analytics, and publicly available data to assist government authorities worldwide in combating large-scale financial crimes such as money laundering, sanctions evasion, and tax non-compliance. The platform has been instrumental in helping clients identify billions of dollars in illicit financial activity and offshore assets.It organizes large datasets and provides investigators with prioritized case information, allowing teams to allocate resources efficiently without manual review of routine data.
Matan Fattal, IVIX’s CEO and co-founder, said, “Our platform enables agencies to process information at a scale that manual methods cannot match.” He added that governments are increasingly willing to collaborate with startups, which has contributed to growing interest from investors.
The financial crime detection market includes several established players. Palantir Technologies offers broad data analytics platforms for both government and commercial clients. ComplyAdvantage focuses on transaction monitoring and regulatory compliance for financial institutions. ThetaRay provides anomaly detection across payment networks. IVIX differentiates itself by concentrating specifically on investigative support for law enforcement agencies. Its platform combines automated pattern recognition with workflow tools to help teams prioritize cases and allocate resources more effectively.
Don Fort, the company’s Chief Business Officer and former Chief of the IRS Criminal Investigation Division, emphasized the value of digital traces in financial investigations. “Our software captures and organizes digital evidence to provide investigators with relevant information,” he said. He further noted, “Our platform is designed to assist investigators rather than replace them.”
The platform is already deployed with U.S. law enforcement agencies and is being introduced in additional regions to support cross-border investigations. With the Series B funding, IVIX intends to expand its research and engineering teams and refine its analytical models to enhance detection capabilities. Data security is a core component of the platform. Access is restricted to authorized personnel, audit trails are maintained, and the system complies with regulatory standards. These measures ensure that sensitive financial information is handled responsibly and remains available for oversight when necessary.
Training and support are integral parts of IVIX’s approach. Fort explained, “Training programs help investigators understand the software’s capabilities and apply its outputs effectively.” Feedback from client agencies is incorporated into ongoing platform improvements, allowing IVIX to adapt to evolving financial crime patterns. Combining software with structured training, the platform complements investigative workflows rather than introducing unnecessary complexity.
Financial crime detection continues to present significant challenges. Transactions are increasingly complex and often cross multiple jurisdictions, and the global shadow economy involves trillions of dollars in unrecorded financial activity. Traditional investigative methods can struggle to identify suspicious patterns efficiently. IVIX’s platform provides a structured approach for analyzing large datasets, highlighting anomalies, and offering actionable insights that assist investigative teams in focusing on high-priority cases.
Public procurement records show that the company has secured contracts with multiple U.S. federal, state, and local agencies, confirming formal adoption of its platform in official investigations. In addition, international agreements in select jurisdictions are documented, demonstrating that IVIX’s tools are being used to support multi-jurisdictional financial oversight.
Independent assessments of the platform’s analytical models have been conducted by third-party reviewers.Documentation of these assessments is included in internal client reports and procurement submissions, allowing agencies to confirm compliance with operational standards.
IVIX maintains detailed records of investigations supported by its platform, including the number of cases analyzed, irregular activities detected, and methods applied. Third-party assessments have verified the accuracy of its analytical models and the effectiveness of case prioritization. Client agencies receive structured reports as part of standard operational procedures, ensuring transparency and accountability in investigative outcomes. These documented processes and validated results confirm IVIX’s measurable contribution to financial oversight and its active role in supporting law enforcement and regulatory agencies across multiple jurisdictions.
