Multinational company Fractal Analytics, which uses artificial intelligence for data analytics, said it has acquired revenue growth management firm Samya.ai for an undisclosed amount to strengthen offerings and expand reach across industries.
The New York headquartered company said Samya's offerings leverages deep learning, reinforcement learning, and other advanced probabilistic methods to deliver an advantage of 10 times over traditional approaches.
“Supporting our mission to power every human decision in the enterprise, this acquisition will expand our footprint and enable us to create greater value for our clients across industries,” Pranay Agrawal, co-founder and CEO of Fractal, said.
In January 2019, private equity firm Apax Partners acquired a significant minority stake in Fractal for $200 million through a mix of primary and secondary share purchases.
In April 2016, Khazanah invested $100 million (Rs 667 crore) in the company for a 36% stake through a combination of a fresh issue and a secondary transfer of shares. TA Associates sold a 7% stake in the company to Khazanah at the time, earning an estimated three-fold return from the partial exit. Also, Fractal’s valuation tripled from the previous round of funding.
In 2014, Canadian loyalty management firm Aimia Inc picked up a 3% stake in Fractal.
Founded in 2000, Fractal provides business analytics services through big data. It offers marketing analytics, forecasting, pricing and promotions optimisation services and consumer insights. Fractal caters to retail, insurance, technology, financial services and consumer goods sectors.
It has a global footprint with more than 1,000 employees across 13 locations, including the US, the UK and India. Fractal counts as clients many Fortune 500 companies such as Procter & Gamble, Microsoft and Philips.