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Quantifind

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Quantifind, Inc.
Company typePrivate
IndustryAnti-money laundering software
Founded2009; 15 years ago (2009)
Founders
  • Ari Tuchman
  • John Stockton
HeadquartersPalo Alto, California, U.S.
Key people
Ari Tuchman (CEO)
Websitequantifind.com

Quantifind, Inc. is a technology company that provides software as a service to discover, investigate, and report entity risk as an indicator of potential financial risk, financial crime, and money laundering. The software is used by financial institutions and government agencies.

The company's algorithms extract signals from multiple sources of public, unstructured data, including news and legal filings, sanctions lists and leaks databases. It performs analysis to assess the degree of risk associated with a particular person or organization.[1] It also provides web based investigation and reporting tools.

Quantifind's headquarters are located in Palo Alto, California, with additional offices in New York City, Boston and Washington, D.C.

History

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Quantifind was founded in 2009 by Ari Tuchman and John Stockton,[2] two quantum physicists from Stanford University and Caltech.[3][4] With early funding from the National Science Foundation,[5] Quantifind worked on pilots for technology and defense intelligence mapping, before a meeting with Disney led the company to focus its data science on helping marketers gain insights they can use to optimize sales.[6] The company then extended its data-driven strategy business into multiple verticals including retail, financial services, entertainment, consumer packaged goods, telecom, and QSR.

In 2016, Quantifind began working with financial institutions to fight money laundering and manage risk.[7] In 2019, the company announced partnerships with Acuris Risk Intelligence and Oracle to "transform anti-money laundering processes" using enrichment from public data sources.[8][9] In 2020, Quantifind announced partnerships with OpenCorporates, a provider of data on corporations, and Snowflake Inc., a cloud-computing-based data warehousing company.

In 2021, Quantifind announced[10] a contract with the United States Department of Defense to accelerate development of Quantifind's risk assessment capabilities beyond financial crimes. It also announced[11][12] Varo Money as a customer and Dow Jones & Company as a partner.[13]

Products

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Quantifind's products are described on its website as being software-as-a-service offerings based upon its Graphyte™ platform for intelligent financial crimes automation. According to a white paper,[14] the technology focuses on signal extraction across licensed or publicly available structured and unstructured data sets. Their entity-centric technology is able to link data sets using named-entity recognition and linking (NER/NEL) to identify which customers and organizations present a fraud, money laundering, or reputational risk to the bank. Its Graphyte webpage[15] describes APIs that respond to synchronous and batch queries with risk information on the subject entity of the query. It also describes GraphyteSearch, a web-based investigations application that analysts use to perform investigations and create reports based on their work.

Investors in Quantifind include Redpoint Ventures, U.S. Venture Partners, Comcast Ventures, Andreessen Horowitz,[16] Iris Capital, Cathay Innovation,[17] Jerry Yang’s AME Cloud Ventures,[18] Joseph Grundfest (Stanford Professor of Law and former SEC Commissioner), S&P Global,[19] Nomura Holdings.,[20] In-Q-Tel,[21] and Snowflake.[22]

References

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  1. ^ "The Graphyte™ Anti-Financial Crimes Automation Platform". Retrieved August 10, 2021.
  2. ^ Waters, Richard (December 9, 2012). "Push to exploit an ocean of information". Financial Times. Retrieved 2016-01-02.
  3. ^ Stockton, J. K.; et al. (2003). "Characterizing the entanglement of symmetric many-particle spin-1/2 systems" (PDF). Physical Review A. 67 (22112): 022112. arXiv:quant-ph/0210117. Bibcode:2003PhRvA..67b2112S. doi:10.1103/PhysRevA.67.022112.
  4. ^ Li, W.; Tuchman, A. K.; Chien, H. C.; Kasevich, M. A. (2007). "Extended Coherence Time with Atom-Number Squeezed States". Physical Review Letters. 98 (40402): 040402. arXiv:quant-ph/0609009. Bibcode:2007PhRvL..98d0402L. doi:10.1103/PhysRevLett.98.040402.
  5. ^ "Units-based numeric data extraction with knowledge of scientific context". National Science Foundation. August 11, 2011. Retrieved 2015-12-23.
  6. ^ Bartlett, Bryan (October 12, 2015). "How Marketers Can Get Past the Hype of Marketing Analytics Practical measurement advice". Adweek. Retrieved 2015-12-30.
  7. ^ "Introducing Quantifind for Financial Crimes Risk Management". September 30, 2018.
  8. ^ "Quantifind and Oracle Announce Strategic Collaboration to Transform Anti-Money Laundering Processes" (Press release). PR Newswire. September 23, 2019.
  9. ^ "Quantifind partners with Acuris Risk Intelligence to boost AML Investigations". CISOMAG. June 17, 2019.
  10. ^ "Quantifind Awarded Department of Defense Contract to Enhance Its AI-Powered Investigations Platform" (Press release). March 31, 2021.
  11. ^ "Quantifind's AI-Powered Platform Selected by Varo® Bank for Adverse Media Screening and Investigations Automation" (Press release). July 15, 2021.
  12. ^ "Quantifind Integrates Dow Jones Content to Deliver Advanced Financial Crimes Screening and Investigations Capabilities" (Press release). September 28, 2021.
  13. ^ "Best Sales and Marketing Companies to Work for in Palo Alto, CA 2024". Wellfound (formerly AngelList Talent). Retrieved 2024-02-26.
  14. ^ An Introduction to Name Science and Its Role in Fighting Financial Crimes; Understanding names is key to unlocking the potential of AI-driven AML and anti-fraud automation (Report). Quantifind.
  15. ^ "The Graphyte Platform". Retrieved October 4, 2021.
  16. ^ Swisher, Kara (July 12, 2010). "After Some Flashy Investing, Is Andreessen Horowitz's Next Move a Big New Fund?". Gartner. Retrieved 2015-08-23.
  17. ^ Clancy, Heather (February 24, 2016). "One Sign that Marketing Analytics Are Taking Off". Fortune. Retrieved 2016-05-23.
  18. ^ Ha, Anthony (July 22, 2014). "Quantifind Raises $12M To Translate Social Media Data Into Sales". TechCrunch. Retrieved 2016-01-04.
  19. ^ "Quantifind Secures $22 Million Financing Round" (Press release). January 21, 2021.
  20. ^ "Nomura Strategic Ventures Invests in Quantifind" (Press release). April 13, 2021.
  21. ^ "In-Q-Tel Portfolio". Retrieved October 4, 2021.
  22. ^ "Quantifind Secures $22 Million Financing Round" (Press release). January 21, 2021.
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