AI analytics and insights firm Fractal Analytics just closed a $200 million financing round with Apax Partners for a “significant” minority stake, Fractal said in an announcement.
Fractal Analytics, established in 2000, aims at powering human choice in business operations and has received acclaim among its Fortune 500 client list. The firm has more than 1,200 consultants worldwide and has AI products across all fields including radiology, business administration, and strategic decision-making.
“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,” said Opening hoursPranay Agrawal, Co-founder and CEO of Fractal Analytics. “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.”
See also: SAP envisions future of AI and converged analytics in 2019
“The data and analytics sector is attractive and growing rapidly as companies increasingly see it as a core strategic function of their business,” said Rohan Haldea, Partner at Apax Partners. “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. [The Fractal team has] done an excellent job building a differentiated company with a clear vision. We look forward to working with them to scale the business further.”
Fractal has built several cutting-edge AI product startups within its ecosystem across industries, including:
● Qure.ai looks at 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 new qER solution for interpreting head CT scans has been shown 95% accuracy in identifying issues with patients.
● Cuddle.ai informs executives on how to make tactical and operational decisions. Cuddle automatically lets clients in on business insights and allows them to ask questions about their operations in natural language.
● Trial Run is a cloud-based experimentation platform that improves strategic and operational decisions. It lets enterprises across verticals test, measure and refine strategies before rollout.
This investment is Apax’s twelfth in the tech services space internationally, joining its partner stable of ThoughtWorks, GlobalLogic, Zensar and EVRY. The Fractal deal is expected to close in February 2019.
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