Wayne-based AI company QuantaVerse lands Wired profile - Technical.ly Philly

Business

Jul. 14, 2017 12:59 pm

Wayne-based AI company QuantaVerse lands Wired profile

The company, which helps banks track money laundering and other mischief, has attracted local investments to the tune of $2.4 million so far.
QuantaVerse uses AI to help banks spot shady moolah schemes.

QuantaVerse uses AI to help banks spot shady moolah schemes.

(Video by YouTube user Imagine Hafakot, used under a Creative Commons license)

Wayne-based artificial intelligence company QuantaVerse, founded by Navy vet David McLaughlin, was the star of a Wired article last week on how banks are using AI to fight money laundering, terrorism and other criminal activity.

“It’s a surgical approach to finding a needle in a haystack,” QuantaVerse’s Dan Stitt told the publication. Stitt is the director of financial crime analysis for the company, and relies on his DEA background to advise the firm.

Using proprietary data science algorithms to sift through internal and external data, QuantaVerse sells its services to the banking industry. It has a staff of nine posted up at 435 Devon Dr., in the same building as investor Pete Musser’s firm, The Musser Group.

Read the full story

According to two SEC filings, the company has attracted $1.5 million in venture funds since 2016. Additionally, the firm landed $300,000 during at IMPACT conference, when it impressed judges of the Lion’s Den pitch competition. All told, including follow-up founding from initial investors, the company has raised $2.4 million as part of an ongoing Series A raise.

(Don’t confuse Dave McLaughlin with WeWork’s David McLaughlin. No relation there.)

-30-
BECOME A CONTRIBUTOR TO THE JOURNALISM FUND TO COMMENT
Already a contributor? Sign in here
Connect with companies from the Technical.ly community
New call-to-action

Advertisement

The future of image recognition technology is deep learning

Escape the August heat with cool AI tech

How Guru is growing fast by taking it slow

SPONSORED

Philly

7 biz resources we learned about at Super Meetup Philly 2019

Philadelphia, PA

PromptWorks

Senior Software Engineer

Apply Now

Chesterrbrook, PA

Deacom

Software Quality Analyst

Apply Now

Philadelphia

Inspire

Manager, People Operations

Apply Now

These adoptable floofs at Morris Animal Refuge have AI-generated names

How AI can help humans, not replace them

Why diversity in artificial intelligence development matters

SPONSORED

Philly

Paid family leave adds to the perks at Chariot Solutions

Philadelphia, PA - Center City

Odessa

Sr. Project Manager

Apply Now

Philadelphia

Vistar Media

Sr. Software Engineer

Apply Now

Philadelphia

Vistar Media

Front End Engineer

Apply Now

Sign-up for daily news updates from Technical.ly Philadelphia

Do NOT follow this link or you will be banned from the site!