TA invests $25m in India-based data analytics provider
TA Associates has acquired a minority stake in Mumbai-based data analytics provider Fractal Analytics for $25 million. It is the latest in a string of investments in India’s big data space, driven by the synergies between existing business process outsourcing (BPO) providers and the nascent but fast-growing data services industry.
"We believe that the big data space represents a very significant opportunity as companies have understood the power of data driven decision making but are struggling to operationalize and institutionalize analytics inside their organizations," said Naveen Wadhera, director and country head at TA, who will join the Fractal board.
Fractal processes and analyzes consumer-related statistics with a view to helping clients better understand their customer bases and develop strategies to build loyalty. Its flagship product, Customer Genomics, allows marketers to learn complex consumer behavior at an individual level through pattern recognition and machine learning algorithms focused on every transaction and customer interaction.
The company works with a number of Fortune 500 companies, operating out of offices San Francisco, New York, London, Mumbai, New Delhi, Singapore and Dubai. Revenues have almost tripled in size over the last two years.
The standout transaction in India's big data space remains Mu Sigma's $108 million Series D round, led by General Atlantic and Sequoia Capital last year. There have also been numerous smaller deals, such as the Fidelity Growth Partners-led $4 million Series B round for Cloudbyte, a company that provides cloud-storage solutions for online applications, which was announced last week.
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