Strategic analytics platform Fractal Analytics has pulled in $200m in funding, as it looks to become a $1bn revenue company.
Apax Partners made the investment in return of a ‘significant’ minority stake in the company. The deal contains a secondary stake which will be acquired from existing shareholders, and a primary investment into the business.
Founded in 2000, the company offers Fortune 500 companies with AI-powered analytics tools to improve their decision making. Its services are used across the insurance, financial services, retail, healthcare and media industries.
Insurance companies can use the AI solution to improve operations across the value chain. It can automate the delivery of insights into a context-sensitive, personalised and real-time fashion. The technology can lower underwriting expenses, improve decision making lower claim fraud and lower payout costs.
Through the new burst of funding, Fractal Analytics hopes to accelerate its growth both organically and through M&A. It is also looking to boost investment into AI products and scale with global demand.
Apax Partners partner Rohan Haldea 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.”
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