Fractal was founded in 2000 in Mumbai by Srikanth Velamakanni (vice-chairman and group chief executive), Pranay Agrawal (chief executive) Nirmal Palaparthi, Pradeep Suryanarayan and Ramakrishna Reddy.
“We hired close to 600 in 2020-21, 250 of them from the campuses. We will add 1,000 more to our headcount in FY22, as we’ve set a revenue growth target of at least 37 per cent (Rs 1,370-1,400 crore) this fiscal. We closed FY21 with a topline (revenue) of Rs 1,000 crore,” Velamakanni told.
He said their tools help companies understand customers by building better ties with, besides helping reduce inefficiencies by improving supply chains that help reduce wasting both resources, time and money.
They also help companies build better products by reducing innovation redundancies, he said adding that they do not have a single domestic client but serve only American, British and Australian companies with over USD 10 billion revenue.
When asked about profit, he refused to share a number but said, “We are highly profitable with gross margins of around 50 per cent.”
The promoters hold just about majority stake now and private equity fund Apax Partners is the single largest stakeholder with 40 per cent stake. Gullu Mirchandani of the Onida TV fame also owns some stake as an angle investor, he said adding that then some of the equity is held by employees by way of Espos.
Apax entered Fractal in 2019 investing USD 200 million and buying out TA Associates, which came on-board in 2015 with a USD 25 million. The Malaysian sovereign wealth fund Khazana had invested USD 100 million in 2016 and then exited.
It employs over 2,100 people now, of them 700 in the Mumbai office and the rest across other 15 global locations, including in five US cities, London, Sydney, Singapore and the Ukrainian capital Kieve apart from Gurugram, Pune and Bengaluru.
Founded in Mumbai and headquartered at the World Trade Centre, New York, Fractal today serves over 50 Fortune 500 companies is one of the leaders in the AI space globally.
Fractal helps large companies in the consumer packaged goods, insurance, healthcare, life sciences, retail and technology, and the financial sector, drive better business outcomes by embedding analytics in their decisions and processes through data and analytics.
With over two decades of service, Fractal is a leader in the AI space today and the Forbes magazine recently ranked it as the seventh best analytics company in the world.
Fractal’s AI products include those to assist radiologists in making better diagnostic decisions, to help CEOs and CXOs make better tactical and strategic decisions, those to improve investment decisions, and those to find anomalies in high-velocity data.