Fractal, a Mumbai and New York-based AI startup that counts Google and Wells Fargo among its customers, raised $360 million from TPG in a new financing round and entered the unicorn club.
TPG invested in the startup through its TPG Capital Asia, its Asia-focused private equity platform. The new round, which brings the startup’s all-time raise to about $685 million, involves some secondary share purchases as well.
The investment from TPG will accelerate Fractal's ability to scale and meet this rising demand globally.
As part of the transaction, TPG’s Puneet Bhatia and Vivek Mohan will join Fractal’s board of directors. All current directors including Gavin Patterson, Rohan Haldea, Shashank Singh, and Gulu Mirchandani will continue to serve on the company’s board. Both TPG and APAX will be minority shareholders in the company.
Company: Fractal Analytics Inc.
Funding Month: January 2022
Lead Investors: TPG
Company Website: https://fractal.ai/
Software Category: AI and analytics solutions
About the Company: Fractal is one of the most prominent players in the Artificial Intelligence space. Fractal’s mission is to power every human decision in the enterprise and brings AI, engineering, and design to help the world’s most admired Fortune 500® companies. Fractal’s products include Qure.ai to assist radiologists in making better diagnostic decisions, Crux Intelligence to assist CEOs and senior executives make better tactical and strategic decisions, Theremin.ai to improve investment decisions, Eugenie.ai to find anomalies in high-velocity data, Samya.ai to drive next-generation Enterprise Revenue Growth Management, Senseforth.ai to automate customer interactions at scale to grow top-line and bottom-line and Analytics Vidhya is the largest Analytics and Data Science community offering industry-focused training programs. Fractal has more than 3500 employees across 16 global locations, including the United States, UK, Ukraine, India, Singapore, and Australia.
Source: https://techcrunch.com/2022/01/05/ai-startup-fractal-becomes-unicorn-with-360-million-investment-from-tpg/ https://fractal.ai/news/fractal-announces-us-360-million-investment-from-tpg/