Quantiphi, which calls itself an AI-first digital engineering company, was founded in 2013 by former Philips Healthcare senior executive Asif Hasan, former
executive Vivek Khemani, and former Capgemini senior executives Reghu Hariharan and Ritesh Patel. It has more than 1,000 employees with offices in , Princeton, Toronto, Mumbai and Bengaluru.
The new investment will be in the form of primary infusion of funds.
Existing investor Renuka Ramnath-led Multiples Alternate Asset Management will dilute about 5% stake. Multiples had acquired about 15% stake in 2019, with an investment of $20 million. It had previously raised an estimated $3.5 million in angel funding. Mails sent to Quantiphi, Warburg Pincus, Baring PE Asia, Carlyle did not elicit any responses, while Goldman Sachs spokesperson declined to comment.
Quantiphi provides services to global Fortune 500 clients across sectors — CPG, insurance, healthcare, retail, media and entertainment, edtech, and technology. It is a premier AI partner to Google (GCP), Amazon (AWS), Nvidia and TensorFlow.
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The company posted a revenue of $200 million in FY22, added sources. In May, the company entered a definitive agreement to acquire the business assets of Accreon Inc, a US and Canada-based healthtech organisation, to strengthen its healthcare and life sciences division and related solution areas for an undisclosed sum.