Founded in 2000, Fractal Analytics is one of the leading providers of artificial intelligence (AI), design and engineering services. While it started operations in Mumbai, the company later shifted base to United States. It is currently headquartered in New York and has two more offices in Chicago and Bellevue.
In India, Fractal has its registered office in Mumbai and regional offices in Gurugram, Bengaluru and Chennai. It has operations in several countries such as Canada, China, Australia, UK and Ukraine. Fractal Analytics focuses on providing its services to Fortune 500 companies across various industry segments such as financial services, insurance, technology, media, telecom, retail, healthcare and consumer packaged goods.
Around the start of 21st century, a lot of websites were emerging and gaining popularity. The founders felt that there was an opportunity to help companies understand their target audience better through the use of analytics. The idea eventually led to the launch of Fractal Analytics. Initial years were pretty tough, as most companies were not aware of the power of analytics. Most companies did not seem interested to buy analytics as a service in those days. The founders had to make great efforts to educate companies and make them visualize the benefits they can get through analytics.
Their first success came when they created a 30-minute loan product for ICICI Bank. Another success followed with HDFC bank, for which, Fractal built advanced mathematical risk models with the help of AI and analytics. With these successes, the founders felt that they could do much better in developed countries like USA that had a strong portfolio of large multinational companies. That’s when it was decided to shift base to USA.
Fractal has received investments worth $685 million via five rounds of funding. Some of the key investors include TA Associates, Khazanah Nasional, Apax Partners and TPG Capital Asia. In January 2022, Fractal received investment worth $360 million from TPG Capital. With this funding, Fractal valuation crossed $1 billion. It took the company around 21 years to become a unicorn. This is quite long, as compared to other startups that have achieved unicorn status much faster. However, Fractal could be better, as it is one of the few startups that are profitable.
To strengthen its business profile, Fractal has made a number of acquisitions over the years. It includes Mobius Innovations, Imagna Analytics, 4i, Inc., FinalMile, Zerogons, Samya and Neal Analytics.
Fractal competes with other companies such as Mu Sigma, LatentView Analytics, Tredence Inc., TCS, Wipro, Tableau Software, Absolutdata, BRIDGEi2i and Toluna.
About the Founders
Fractal was founded by five professionals, IIM Ahmedabad alumni Srikanth Velamakanni and Pranay Agrawal, along with Ramakrishna Reddy, Pradeep Suryanarayan and Nirmal Palaparthi. As of now, only Srikanth Velamakanni and Pranay Agrawal are with the company. Co-founder Srikanth Velamakanni currently serves as the group chief executive and executive vice chairman of Fractal. Pranay currently serves as the CEO of Fractal.