Quantexa is considering a multibillion-dollar stock market listing in Britain or the United States.
The London-headquartered artificial intelligence company, which builds software to help organisations analyse large volumes of data for uses including fraud detection and financial-crime prevention, said it has been "IPO-ready" since January but gave no timing for a float.
"We can list in the UK or the U.S., or both," Vishal Marria said.
Marria said a U.S. listing would tap a deeper pool of capital and could secure a higher valuation than a London float.
Minority shareholder Warburg Pincus is working with adviser Citigroup to explore options for its 9% to 10% stake, including a possible sale, two people with knowledge of the matter told Reuters, and the process could move to an auction later this year though a deal is not guaranteed.
Quantexa was valued at about $2.6 billion last year when it raised $175 million in a Series F led by Teachers' Venture Growth, and earlier this year it won a £175 million contract with Britain's revenue and customs agency to combine internal and external data to improve fraud and error detection.
The company is also competing for the NHS's planned single patient record programme, and Marria said Quantexa's software works with existing systems to reduce the risk of vendor lock-in.
