Funds Advised by Apax Partners Invest USD 200 Million in Fractal Analytics

/ -- Investment will accelerate Fractal's path to a $1 billion-revenue company in the AI space
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Srikanth Velamakanni, Co-founder, Group Chief Executive and Executive Vice-Chairman of Fractal Analytics, said: "We are making progress on our goal to build a $1 billion-revenue company in the AI space, thanks to our relentless focus on serving Fortune 500 companies globally in enabling an AI-led digital transformation in their businesses. We have been fortunate to have the backing of supportive investors in Khazanah Nasional, TA Associates and Mr. Gulu Mirchandani in this journey. We are excited about our new partnership with Apax Partners, who have an enviable track record of building scaled new-age tech services companies."

Pranay Agrawal, Co-founder and CEO of Fractal Analytics, said, "The demand for AI is surging across the enterprise. Our AI solutions and globally-recognized team of experts empower these organizations to realize and maximize their full potential. The investment from the Apax Funds will accelerate our ability to scale and meet this rising demand globally. It also establishes Fractal Analytics as one of the world's most well-funded AI providers."
Rohan Haldea, Partner at Apax Partners, said, "The data and analytics sector is attractive and growing rapidly as companies increasingly see it as a core strategic function of their business. We are delighted to partner with Fractal Analytics who are extremely well-regarded in this space due to their cutting-edge advanced analytics and AI capabilities which help their blue-chip client base solve complex problems. Srikanth and Pranay have done an excellent job building a differentiated company with a clear vision. We look forward to working with them to scale the business further."

Shashank Singh, Partner at Apax Partners, said, "We are keen to partner with successful companies, like Fractal Analytics, that have become global leaders. Fractal's strong culture, which fosters employee engagement and innovation, has played a significant role in driving its success. Notably, its ability to attract high-quality data science and engineering talent has allowed the company to stay at the forefront of the rapidly-evolving analytics space."

Chinta Bhagat, Head of Khazanah in India and chairman of Fractal, said, "Khazanah is proud to have been Fractal's largest shareholder during a period in which it scaled up rapidly into a leading global analytics player. In addition to providing growth capital, Khazanah worked closely with Fractal on streamlining the board, supporting product innovations, and bringing Fractal's capabilities to Khazanah's portfolio companies. We wish everyone at Fractal the very best as it embarks on its next stage of growth, and look forward to being supportive partners over the coming years."

About Fractal Analytics
Fractal has built several cutting-edge AI product startups within its ecosystem across industries, including:
Qure.ai to transform how radiologists make diagnostics' decisions. Qure's qXR solution is the first AI-based Chest X-Ray interpretation tool to receive CE certification. Qure's recently-launched qER solution for interpreting head CT scans has been proven to have more than 95% accuracy in identifying abnormalities. Cuddle.ai to transform how executives make tactical and operational decisions. Cuddle automatically alerts users on what they need to know about their business and allows them to ask questions about their business in natural language. Trial Run to improve strategic and operational decisions. Trial Run is a cloud-based experimentation platform that enables companies across verticals to test, measure and refine strategies before rollout. Fractal has more than 1,200 consultants spread across 15 global locations including the United States, UK and India. Fractal has been featured as a leader in the Customer Analytics Service Providers Wave 2017 by Forrester Research, a 'Great Place to Work' by The Economic Times in partnership with the Great Place to Work Institute and recognized as a 'Cool Vendor' and a 'Vendor to Watch' by Gartner. For more information: http://www.fractalanalytics.com

About Apax Partners