The Ontario Teachers’ Pension Plan’s venture growth arm is leading a US$175 million Series F investment round for artificial intelligence, data and analytics software company Quantexa.
The latest funding round, which gives the U.K.-based company a valuation of $2.6 billion, also includes existing investor British Patient Capital. Ara Yeromian, managing director at the Teachers’ Venture Growth, will join the company’s board of directors as part of the transaction.
“Businesses today need to build trusted data foundations to enable AI-enhanced decision-making, to drive real world impact,” said Avid Larizadeh Duggan, senior managing director and head of TVG in Europe, the Middle East and Africa, in a press release. “Quantexa is revolutionizing how they do this.”
In other news, the Ontario Teachers’ is selling Amica Senior Lifestyles and some of its assets to Welltower Inc. for C$4.6 billion.
The investment organization first invested in the Canadian senior residence firm in 2010. In a press release, Terry Woodward, senior managing director of private capital at the Ontario Teachers’, said the organization has supported Amica’s management team as they have grown the platform.
“We are excited to watch the Company reach new heights in the future and wish Amica, the management team, and Welltower continued success in their next stage of growth.”