Fractal Analytics, the New York-headquartered artificial intelligence (AI) and analytics company, is gearing to expand its team by about 1,000. Last year, it had added almost 600 to its workforce, including 250 freshers from campuses. In FY22, the Company is looking to add more software engineers and graduates from the humanities stream.
The Company, founded by Srikanth Velamakanni, Pranay Agrawal, Nirmal Palaparthi, Pradeep Suryanarayan and Ramakrishna Reddy almost two decades ago, posted a revenue of Rs 1,000 crore and a growth of 16 per cent over 2019-20, at the close of financial year 2021. It now aims to post a minimum of 37 per cent growth in FY 22, that is, Rs 1,370 to Rs 1,400 crore.
The firm offers tools that help companies understand customers and reduce inefficiencies by strengthening their supply chains. These tools help bring down wastage of time, money and resources. Companies rely on Fractal Analysis to build better products by decreasing innovation redundancies. Their clients are primarily based in the US, UK and Australia.
While the majority stake is held by the promoters, Apax Partners is the single largest stakeholder, with 40 per cent stake.
With a 2,100-strong workforce at present, about 700 employees work out of its Mumbai office while the remaining are spread across 15 global locations, including Sydney, Singapore, London, five cities in the US, Kieve (in Ukraine) and the Indian cities of Pune, Gurugram and Bengaluru. Founded in Mumbai, Fractal Analysis’ clients comprise more than 50 Fortune 500 companies.
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