Banking
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.
