Summary:
IVIX raised $60M in Series B funding led by O.G. Venture Partners to combat financial crimes using AI.
The startup uses large language models and graph analytics to detect money laundering and tax evasion in public data.
It has helped governments uncover billions in illicit assets across the US, Europe, and Asia.
IVIX plans to double its team to 150 employees and enhance its software to address the $20 trillion shadow economy.
Founded in 2020 by experts, it leverages cryptocurrency and e-commerce data for more effective crime fighting.
IVIX's AI-Powered Platform Revolutionizes Financial Crime Detection
Israeli-founded startup IVIX has secured $60 million in a Series B funding round to enhance its artificial intelligence-driven software that helps governments and law enforcement agencies combat financial crimes like money laundering, sanctions evasion, and tax non-compliance. This investment, led by O.G. Venture Partners with participation from Insight Partners, Citi Ventures, and others, brings IVIX's total funding to $85 million.
Founded in 2020 by security experts Mattan Fattal and Doron Passov, IVIX leverages large language models (LLMs) and advanced graph analytics to scan publicly available data, cryptocurrency networks, and global e-commerce marketplaces. The platform identifies anomalies and hidden connections that traditional methods often miss, having already helped agencies in the US, Europe, and Asia uncover billions in illicit assets.
Team at AI fintech startup IVIX. (Courtesy)
CEO Mattan Fattal emphasized the complexity of the technology, stating, "This is the most complex technology I've ever worked on." IVIX plans to use the funds to advance research and expand its workforce from 60 to 150 employees within a year, aiming to tackle the global $20 trillion shadow economy that operates beyond traditional investigative reach.
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