Fractal Joins Unicorn Club with $360m Investment

Artificial intelligence and advanced analytics specialist Fractal Analytics has raised $360m, valuing the business at more than $1 billion.

Fractal offers a range of products including Crux Intelligence, which helps CEOs and senior executives make tactical and strategic decisions; Theremin.ai to improve investment decisions; Eugenie.ai to find anomalies in data; and revenue growth management tool Samya.ai. In 2015, the firm acquired personalized customer intelligence specialist Mobius Innovations and AI start-up Imagna Analytics. It now has more than 3,500 employees across sixteen global locations, including the US, UK, Ukraine, India, Singapore and Australia.

New funding comes from private equity firm TPG Capital Asia, in a deal that includes a combination of primary investment and secondary share purchase from funds advised by Apax, which will remain a major shareholder in Fractal. Fractal's co-founder and Group CEO Srikanth Velamakanni (pictured) comments: 'TPG's capabilities across all our markets and their proven success in building and supporting top AI providers is the perfect complement to the partnership we've enjoyed with Apax, whose insight and expertise have been instrumental in accelerating our growth'.

Web site: www.fractal.ai .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.