Mumbai based data analytics firm Fractal Analytics has raised $25 million from US based private equity firm TA Associates (via). Fractal Analytics offers predictive analytics and decision sciences to global Fortune 500 companies spanning across verticals like financial services, insurance, consumer goods, retail, technology, pharma and telecommunication.
The company will use the raised fund for global expansion, hiring and and build more products with intellectual property rights. It had posted revenues of about $20.5 million in last fiscal and eyeing for $35 million by the end of current fiscal. Founded in 2000 by former investment bankers Srikanth Velamakanni and Pranay Agrawal, Fractal Analytics currently has over 600 employees with offices in 7 cities across the globe.
TA Associates, which manages $18 billion fund-size globally, has been selective while making investment in India, and typically it does one-two investments every year. The PE firm sees big data as sweet spot for investment as it is being hailed as the next big thing in the IT world. According to Gartner, Big Data will drive $28 billion in IT spending in 2012 and in 2013, big data is expected to drive $34 billion of IT spending.
With exploding big data there is a broad scope of big data and analytics market, which includes data analytics, data distribution, data management and data visualization amongst others.Earlier in February this year MasterCard Advisors, a division of MasterCard acquired an equity stake in Mu Sigma and signed up the data analytics company to jointly develop analytics products for organizations in different verticals.
WeAreHolidays secures of angel investment
WAH Holidays Pvt Ltd, which owns WeAreHolidays has raised undisclosed amount of angel investment led by Mumbai Angels with participation from Blume Venture Capital, Sachin Bhatia (co founder, MakeMyTrip) and GSF India. The deal was first reported by StartupCentral via The EconomicTimes
The raised fund will be used for product development, holiday content and back end integrations. WeAreHolidays is an engaging online platform that helps users to research, plan, book and share their holidays and experiences.
Founded in 2011 by Deepak Wadhwa, Harkirat Singh, and Mohit Piplani – WeAreHolidays allows booking via web or phone across 261 locations across India and foreign geographies. The company also offers handy informations for traveller such as things to do, places to see, nearby eateries, shop, night-outs including others.