TA associates, a US based private equity firm is investing in a Mumbai based data analytic providing company, Fractal Analytics, as per the company reports. TA Associates will invest a total of INR 150 crore against a minority stake in the company.
According to Naveen Wadhera, director and country head in India for TA Associates, Fractal Analytics fits well into their global strategy of backing promoters as the company has built itself as a niche business services company to a scale, with global ambitions.
TA associates has been very selective in investing in India and have been investing in just one-two companies every year, added Naveen.
Fractal Analytics, with its effective analytic solutions managed to clock over USD 20 million in 2012-12 and expects to touch USD 30 million this year. The company has plans to expand to other countries, grow its sales team and to build more products with the received funding.
“We chose to partner with TA Associates because of their excellent track record in helping profitable companies become outstanding businesses,” said Srikanth Velamakanni, Co-Founder & CEO of Fractal Analytics. “We are passionate about helping companies leverage advanced analytics to better understand consumers, optimize pricing & marketing and compete more effectively in the marketplace. Our partnership with TA will help us fuel this passion further.”
Huge amount of in-house data generation has recently forced several companies to manage the data effectively, which in return helps companies to increase their productivity and ROI. According to a survey report, 72 per cent of Indian organizations are now considering, planning or running ‘Big Data’ projects; making big data market in India worth around USD 1 billion by 2015.
However, the global big data market which worth USD 6.3 billion in 2012 is expected to reach USD 48.3 billion by 2018, at a CAGR of 40.5% from 2012 to 2018.