DeepTech Unicorn Fractal acquires US-based Neal Analytics to strengthen its presence in the US, Canada

Fractal AI

Neal Analytics, a US-based company has been acquired by AI and advanced analytics startup Fractal, in order to strengthen its AI engineering capabilities and cloud-based offerings on Microsoft’s multi-cloud ecosystem. The acquisition will not only aid Fractal in enhancing its AI-based services but also strengthen its presence in Pacific Northwest, Canada, and India.

Founded in the year 2000 by IIM-Ahmedabad graduates Srikanth Velamakanni, Pranay Agrawal, Nirmal Palaparthi, Pradeep Suryanarayan and Ramakrishna Reddy, Fractal provides artificial intelligence and advanced analytics solutions to Fortune 500 companies in various sectors like retail, insurance, technology, financial services and consumer goods and has more than 3,500 employees working across 16 global locations, including the United States, UK, Ukraine, India, Singapore, and Australia.

Neal Analytics, founded in 2011 is a Microsoft Gold Consulting Partner, having tie-ups with various companies such as PepsiCo, Microsoft, Intel, Nvidia and Databricks and has over 200 employees working across the US, Canada, and India with its headquarters in Bellevue (Washington). The company has great experience working on the Azure stack across multiple domains such as AI, Machine Learning and the Internet of Things.

The deal between the two companies will eventually aid Fractal in improving its business performance and enable business transformation via the cloud over the coming decade. This is Fractal’s seventh acquisition to date, its other acquisitions include Mobius Innovations, Imagna Analytics, 41 Inc., Samya.AI, Zerogons, and FinalMile.

Srikanth Velamakanni, Co-founder of Fractal and Group Chief Executive said, “This partnership will accelerate our ability to power data-driven decisions end-to-end for our Fortune-500 sized clients.”

Dylan Dias, CEO at Neal Analytics, said, ”This is an exciting opportunity to empower our people and work alongside like-minded practitioners to transform businesses with cloud, data, and AI. It will enable Neal Analytics and Fractal to grow and achieve more together.”

The acquisition comes on the heels of private equity firm TPG investing $360 Mn in Fractal, making it the first Indian company to earn a unicorn status in 2022. Fractal’s customers include Google, Wells Fargo and Reckitt Benckiser and it has raised close to $685 Mn to date. Fractal competes against the likes of Tata Consultancy Services, Wipro, Tredence, LatentView, and Mu Sigma.

According to Valuates Report, the global big data and business analytics segment could be worth over $684 Bn by 2030, Hence the projected increase in the revenue of the company is 37% to $160 Mn by the end of the fiscal year March 2022.

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