Fractal Analytics, an India-based analytics provider backed by loyalty and marketing analytics firm Aimia, agreed an investment of up to $100m from Malaysia’s sovereign wealth fund, Khazanah Nasional Berhad, on Tuesday.
Founded in 2000, Fractal Analytics supplies analytics services to major companies, providing business intelligence that covers customers, marketing, pricing and global data. It can operate as an aid to an existing analytics team, as a consultant or as a researcher itself.
The company received $25m in funding from private equity firm TA Associates in 2013 and an undisclosed amount from Canada-based Aimia the following year as part of a strategic partnership agreement.
Pranay Agrawal, co-founder and chief commercial officer of Fractal Analytics, said: “This is an exciting phase of our growth. Our success has been on account of the trust and partnership we have enjoyed from large global corporations.
“The unmet need for artificial intelligence and sophisticated analytics in these organisations will propel our future growth. We are excited to partner with Khazanah on this journey.”