Analytics service provider Fractal Analytics announced that it has received a $200 million investment from Apax Partners that will come in the form of a primary cash infusion and a secondary acquisition of equity interest from several investors, among them the Malaysian government investment fund, Ta Associates, and others.
Kyle Wiggers tells us more about Fractal Analytics in VentureBeat:
The financing rockets the startup toward the top of the list of the world’s most well-funded artificial intelligence (AI) providers, with $325 million raised to date, building on a $100 million private equity round in May 2016 and a $25 million venture round in June 2013. And it puts Fractal in a position of strength as it looks to make strategic mergers and acquisitions and expand its workforce of 1,200 employees across 16 offices.
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Consultancy makes up the bulk of Fractal’s business. It works with brands in the consumer packaged goods, financial services, health care and life sciences, retail, technology and media, and insurance sectors to build bespoke machine learning-driven solutions to enterprise problems. It’s optimized a client’s marketing spend by feeding AI systems point-of-sales data, worked with a health care provider to determine algorithmically the likelihood a person would visit the emergency room, and created an AI framework for a retailer that improved digital sales by 25 percent.
Beyond bespoke solutions, Fractal incubates a small but growing number of internal AI startups — a group to which it plans to devote $30 million over the next few years.
