IPO-bound artificial intelligence firm Fractal Analytics has raised $150 million in a secondary transaction that values the company at $2.44 billion.
The funds were raised through the sale of a 6% stake by existing investor Apax Partners. The buyers include 22 investors and funds advised by Trust Investment Advisors, as well as funds managed by White Oak Capital Management, Gaja Capital and Neo Asset Management.
Fractal provides AI and analytics services to Fortune 500 companies across sectors such as retail, technology, media, healthcare and financial services. Its portfolio includes Asper.ai, Analytics Vidhya and Qure.ai. The company also develops AI products such as MarshallGoldsmith.ai, Vaidya.ai and Kalaido.ai, and has released the open-source reasoning model Fathom-R1-14B.
Saraf and Partners advised the investors in the transaction. Apax was advised by AZB & Partners and Kirkland & Ellis, while Fractal was represented by Shardul Amarchand Mangaldas & Co.
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