IVIX, a startup founded in 2020, has raised $60 million in Series B funding to enhance its AI-driven solutions against financial crime. The total funding received by the company now stands at $85.5 million. It utilizes large language models and graph analytics to help governments globally in uncovering illicit financial activities, including billions in offshore assets. The company aims to strengthen R&D and increase the adoption of its technology, particularly against the expansive $20 trillion global shadow economy, which presents new financial crime challenges.
"With the new era of LLMs and graph algorithms, we're able to unlock insights from scattered and opaque data sources that were previously out of reach," said Mattan Fattal, IVIX Co-founder and CEO. "This funding will allow us to strengthen our R&D and expand adoption of our technology to help governments stay ahead of a rapidly evolving shadow economy."
"IVIX is pioneering transformative AI that addresses one of the world's most pressing challenges," said Ziv Kop, Managing Partner at OGVP (EMEA). "Its ability to uncover illicit financial activity is critical in the digital age, and we're proud to support the company's growth as it expands its global impact."
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