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Analytics firm Fractal raises $360-M from TPG; turns unicorn

Press Release   TechCrunch  

Fractal, a Mumbai- and New York, USA-based analytics startup that leverages artificial intelligence (AI), has raised USD 360 million (about INR 2,700 crore) from Private Equity investor TPG Capital Asia. The transaction includes a secondary share purchase from existing PE investor Apax Partners. Post deal, both TPG and Apax will be minority shareholders in the company. The fresh funding round valued the 21-year-old startup at over USD 1 billion, making it a unicorn. 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. The deal is likely to close in the first quarter of 2022. The company is expected to go public in the next two years.

From the Venture Intelligence PE-VC Deal Database: Fractal had previously attracted USD 325 million from Apax Partners (Jan-2019), Khazanah (May-2016) and TA Associates (Jun-2013).