Takeaways by Saasverse AI
- IVIX | Series B | $60 Million | AI-Driven Financial Crime Detection.
- Led by O.G. Venture Partners, with participation from Insight Partners, Citi Ventures, Team8, Disruptive AI, Cardumen Capital, and Cerca.
- Funding supports product development and expansion of IVIX's AI platform for combating large-scale financial crimes globally.
IVIX, an AI-driven financial technology innovator, has announced the successful closure of a $60 million Series B funding round. Spearheaded by O.G. Venture Partners and joined by prominent investors such as Insight Partners and Citi Ventures, this round brings IVIX's total funding to $85 million. Founded in 2020 by security and tech veterans Mattan Fattal and Doron Passov, the New York-based company is revolutionizing how governments worldwide combat financial crimes, leveraging cutting-edge AI and graph analysis technologies.
IVIX has positioned itself as the first platform combining large language models (LLM) with graph analysis to tackle the complexities of financial crime. The company’s AI platform, powered by open-source intelligence (OSINT), transforms publicly available business data into actionable insights. By deploying advanced web crawling technology, the platform collects data from diverse sources, including blockchain networks, e-commerce platforms, short-term rental services, and more, to uncover hidden financial activities and streamline investigative processes.
A standout feature of the IVIX platform is its ability to link seemingly unrelated transactions using graph data structures. By analyzing attributes such as transaction frequency, volume, and timing, the platform identifies anomalous financial flows and suspicious entities with unparalleled accuracy—boasting a detection rate of 99%. This technological edge is critical in addressing the challenges posed by modern financial crimes, such as cryptocurrency anonymity, high-frequency micro-transactions, and blockchain obfuscation. To date, IVIX claims to have uncovered billions of dollars in offshore assets and illegal financial activities for its clients, including government agencies in the U.S., Europe, and Asia.
“ The platform addresses a long-standing gap in leveraging fragmented public data for combating sophisticated financial crimes. With this fresh capital infusion, IVIX aims to accelerate product development and expand its market presence, ensuring its innovative solutions can support more governments and organizations worldwide “ IVIX co-founder and CEO Mattan Fattal said.
Saasverse Insights
This funding round underscores the growing demand for AI-driven solutions in the fight against financial crime, a sector plagued by inefficiencies in traditional investigative methods. The estimated $20 trillion underground economy highlights the urgent need for scalable, tech-enabled approaches to disrupt illicit financial activities. IVIX’s focus on combining LLMs and graph analysis places it at the forefront of this transformation, offering a template for addressing emerging threats like cryptocurrency-enabled crimes and anonymous blockchain transactions.
Saasverse anticipates that IVIX’s advancements will not only solidify its market position but also set a precedent for how AI can be deployed to safeguard global financial systems. For investors and enterprise leaders alike, this signals a broader trend toward integrating AI and OSINT to unlock value in untapped data sources. The potential ripple effects across the AI, SaaS, and Cloud ecosystems could include new partnerships, regulatory collaborations, and innovations in data intelligence platforms designed for compliance and security.