Executive Summary

  • Company Name: IVIX Tech, Inc.
  • URL: https://www.ivix.ai
  • Description: IVIX provides an AI-powered platform for government and law enforcement agencies to identify financial crime and tax evasion.
  • Key Metrics: 62 employees, $85M total funding.
  • Value Proposition: To illuminate the "shadow economy" by making it easy for government agencies to find and address financial crime.

Company Overview

  • Business Model: B2G (Business-to-Government) SaaS provider.
  • Target Market: Government authorities and law enforcement agencies worldwide.
  • Product/Service: An AI-powered platform for open-source intelligence (OSINT) to detect financial non-compliance.
  • Geographic Presence: Offices in the U.S. (New York), Europe, and Asia, with a significant presence in Israel.

Performance Metrics

  • Employee Count: 62, with a 37.78% year-over-year growth.
  • Funding History:
    • Series B (August 2025): $60M led by O.G. Venture Partners, with participation from Insight Partners, Citi Ventures, and others.
    • Series A (August 2023): $12.5M led by Insight Partners.
    • Seed (July 2021): $13M led by Team8 Capital.
  • Key Performance Indicators:
    • Monthly website visits: 4,300 (up 170.9% month-over-month).
    • Growth: IVIX has experienced five consecutive years of rapid growth, with expanding customer adoption across government agencies.
    • Product: The platform has helped identify and recover billions of dollars in evaded taxes, offshore assets, and illicit financial activity
    • Client case study: Achieved 99% accuracy in identifying non-compliant cases with a US state tax agency.
  • Social Media: 4,184 LinkedIn followers (31.22% year-over-year growth).

Leadership Team

  • Founders:
    • Matan Fattal (Co-Founder & CEO): Former Co-Founder of Silverfort (cybersecurity). Background in algorithmic research at Intucell and the Israel Defense Forces. Holds a Master's in Mathematics.
    • Doron Passov (Co-Founder & CPO): Former product manager at Claroty and Gita Technologies. Also served in the Israel Defense Forces. Holds a degree in Applied Mathematics.
  • Key Executives:
    • Don Fort (Chief Business Officer): Former IRS Chief of Criminal Investigation.
    • Andrey Shomer (Chief Technology Officer)
  • Team Composition: Strong representation from both the tech/cybersecurity sector and former government/tax enforcement agencies.

Competitive Landscape

  • Direct Competitors: Quantexa, Verafin, Palantir, BAE Systems, and other providers of financial crime detection platforms.
  • Market Positioning: IVIX differentiates itself by focusing specifically on the government sector and leveraging OSINT to uncover tax evasion in the digital economy (e.g., eCommerce, cryptocurrency).
  • Competitive Advantages:
    • Deep domain expertise from former tax enforcement officials.
    • A specific focus on the "shadow economy," which may be a niche that larger, more generalist competitors overlook.

Recent Developments

  • Funding (August 18, 2025): Closed a $60M Series B round led by O.G. Venture Partners. This brings the company's total funding to $85M.
  • Product: Recent blog posts and webinars indicate a focus on crypto-related tax evasion and eCommerce sales tax compliance.
  • Partnerships: The company is actively involved with organizations like the Federation of Tax Administrators (FTA).
  • Hiring: Recent key hires include a VP of Marketing and a Chief Revenue Officer, indicating a focus on scaling go-to-market efforts.

Key Insights

  • Strengths & Opportunities:
    • Strong founding team with relevant experience in both technology and the problem domain.
    • The increasing complexity of the digital economy creates a growing need for their solution.
    • Backed by reputable investors (O.G. Venture Partners, Insight Partners, Team8).
  • Risks & Challenges:
    • Long sales cycles are typical in the government sector.
    • The company's success is tied to government budgets and priorities.
    • Data privacy and security are critical concerns when dealing with sensitive government data.
  • Market Positioning: IVIX is well-positioned as a specialized tool for a clear and underserved market segment.
  • Growth Trajectory: The significant new Series B funding and key executive hires suggest that the company is poised for accelerated growth and product development.
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