Financial crime detection platform Ivix raises $60 million

Finextra

a day ago

IVIX, the first AI-powered platform designed to help governments around the world combat financial crime at scale using LLMs, advanced graph analytics and publicly available data, today announced the close of its $60 million Series B funding round, bringing the total amount raised to $85 million.
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The round follows five consecutive years of rapid growth and customer acquisition, as IVIX has helped customers identify billions of dollars in offshore assets and illicit financial activity.
The round was led by O.G. Venture Partners (OGVP) with participation from Insight Partners, Citi Ventures, Team8, Disruptive AI, Cardumen Capital, and Cerca. IVIX will use this growth capital to accelerate its research and development capabilities and widespread adoption of its AI-powered solution to illuminate and combat financial crime at scale. IVIX has already been deployed by government authorities in the U.S., Europe, and Asia.
'For decades, publicly available data has been underutilized in combating complex financial crime due to its scattered, opaque nature and challenges in deriving actionable insights. At IVIX, we've embraced this mission. By assembling top-tier tech talent, investing in focused research, and leveraging the new era of LLMs combined with modern graph algorithms, we deliver impactful results to our customers. This is the most complex technology I've ever worked on, and it's a true pleasure,' said IVIX Co-founder and CEO Mattan Fattal. 'Our Series B success positions us to advance our capabilities and help more authorities around the world stay ahead of the rapidly evolving shadow economy. Together with our investors and partners, we're committed to delivering innovative solutions that create meaningful impact at scale and serve the greater public good.'
Law enforcement agencies have long faced the challenges of traditional methods of evasion, such as shell companies, offshore accounts, and layered money laundering schemes. Today, these challenges are compounded by modern innovations such as sophisticated cryptocurrency networks, high-speed micro-transactions, anonymity and pseudonymity in blockchain, and the explosion of global e-commerce. Illicit activity in these industries and many others has resulted in a $20 trillion global shadow economy that operates largely beyond the reach of traditional investigative methods.
IVIX is the first AI-powered technology that combats this global problem at scale by utilizing publicly available business data and graph analytics to index the internet from a financial perspective, giving authorities full visibility into financial crime and criminal networks that traditional methods often miss. In short, IVIX is the intelligence layer that makes hidden financial networks visible—using its OSINT-driven AI and graph analytics to uncover the unseen connections that power financial crimes.
'IVIX is at the cutting edge of transformative AI technology, delivering breakthrough solutions that address some of today's most complex challenges,' said Ziv Kop, a Managing Partner at OGVP (EMEA). 'The innovative ability of their technology to unearth illicit financial activities is not just impressive, it's critical for governments in the digital age. OGVP is excited to lead this new financing round, its third in the B2G digital space, and to partner with IVIX in this period of rapid growth as they expand their impact and help governments deliver better services and stronger security for their citizens.'
Founded in 2020 by security experts and tech industry veterans Mattan Fattal and Doron Passov, IVIX is headquartered in New York, with offices and employees in Europe, the U.S., South America and Asia to serve governments around the world.