IVIX raises $60 million Series B to combat financial crime with AI | CTech

IVIX, a platform that helps governments worldwide combat large-scale financial crime, has raised $60 million in a Series B funding round. The investment brings the company’s total funding since its founding to $85 million.

The round was led by O.G. Venture Partners, with participation from Insight Partners, Citi Ventures, Team8, Disruptive AI, Cardumen Capital, and Cerca. All of the funds will go directly into the company’s operations.

Founded in 2020 by CEO Mattan Fattal and CPO Doron Passov, both with backgrounds in mathematics, IVIX has quickly established itself in the fight against financial crime. Fattal, also a co-founder of Silverfort, previously served as its CEO and president. Passov, a graduate of Unit 81, brings extensive experience in product management, development, and cybersecurity. The company employs about 60 people, most of them in Israel, with the rest in the U.S., Europe, South America, and Asia. IVIX is now expanding and recruiting developers, product experts, and other roles.

“We will invest the funding mainly in development,” Fattal told Calcalist. “We index the Internet from a financial perspective, which requires intensive algorithmic work. Our technology is used by government organizations, including financial, security, criminal, and civil enforcement authorities, in North America, Asia, and Europe. We help authorities combat money laundering, human trafficking, and tax evasion. We started with tax authorities, then expanded into criminal, security, and civil areas, searching for anomalies in money transfers using open data. Today, we have major contracts in taxation and have also grown into areas like human trafficking, terrorist financing, and sanctions enforcement, ensuring organizations are not trading with prohibited countries. We plan to reach 150 employees by mid-2026. Our ambitions in development are significant, and achieving them requires scale.”

Authorities worldwide have long struggled with hidden capital flows facilitated by shell companies, offshore accounts, and money laundering chains. These challenges are magnified by advanced technologies used by criminals, such as crypto networks, high-speed microtransactions that fragment money flows, blockchain anonymity, and the rise of global e-commerce. Collectively, these factors contribute to a shadow economy estimated at around $20 trillion, beyond the reach of traditional investigative tools.

IVIX’s platform addresses these gaps by creating a comprehensive mapping and indexing of financial movements on the Internet. It generates insights that expose hidden networks engaged in money laundering, sanctions evasion, and tax fraud, networks that legacy tools fail to uncover.