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Fractal Analytics to get US$200M minority investment from Apax funds

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Fractal Analytics to get US$200M minority investment from Apax funds

Fractal Analytics Inc., which provides artificial intelligence and analytics services to global Fortune 500 companies, is poised to receive US$200 million from funds advised by Apax Partners LLP.

The funds will obtain a significant minority stake in exchange for the investment. The transaction, set to close by February, comprises a primary investment in Fractal and a secondary stake bought from existing stockholders.

Fractal said it will use the money to expedite its growth toward US$1 billion in revenue and to make additional investments in AI products and research. The company has more than 1,200 consultants across 15 locations, including the U.S., U.K. and India. It was behind AI product startups such as Qure.ai, Cuddle.ai and Trial Run.

Private equity advisory firm Apax, through its managed funds, targets investments in the technology, telecommunications, services, healthcare and consumer sectors.