Global provider of artificial intelligence and advanced analytics solutions Fractal has secured $360m in funding from TPG.
TPG is investing through TPG Capital Asia, the firm’s Asia-focused private equity platform, in a transaction that includes a combination of primary investment and secondary share purchase from Funds advised by Apax, who will remain a major shareholder following the transaction. The transaction is expected to close by the first quarter of 2022. Additional terms were not disclosed.
Fractal’s mission is to power every human decision in an enterprise, as well as bring AI, engineering, and design capabilities to Fortune 500 companies.
Srikanth Velamakanni, co-founder and group CEO at Fractal, said: “We continue to see great momentum in how clients are leveraging AI to accelerate digital transformation. Fractal is building a great workplace and an innovative culture that’s driving significant client outcomes through our ‘user focused, decision-backwards’ approach to solving problems.”
Pranay Agrawal, co-founder and CEO of Fractal, added that the investment from TPG will enable the company to meet a rising demand for AI solutions and products.
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.
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