Fractal, a global provider of analytics and artificial intelligence, has announced the acquisition of Samya.ai for an undisclosed amount.
The acquisition will help Fractal strengthen its Revenue Growth Management (RGM) services to help its clients drive sustainable growth and make informed business decisions. Fractal’s ecosystem comprises eight software solution platforms and five AI companies, including Samya.
Samya leverages machine learning to help CPG companies realise their revenue growth potential. Analytics India Magazine caught up with the leadership of both companies to get more insight into this deal.
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While Fractal is looking to take advantage of Samya’s product to cater to its strong CPG customer base, Samya’s plan is to leverage Fractal’s large ecosystem to scale faster.
“If you want to take client-centricity to the next level, you have to invent on behalf of the client, anticipate their next need, and be ready for them before they are asking,” said Srikanth Velamakanni, Co-founder and CEO, Fractal, “We felt that the way Samya is growing the RGM engine, this would be very useful for our clients.”
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“The way I think of it is that the market is moving very fast and there are too many companies in the market. Hence, scaling the company alone could be much slower than scaling with a larger ecosystem,” said Shailendra Singh, Chief Executive Officer at Samya.ai.
“For us, it was important that we get a larger ecosystem because the kind of people that you need to scale this company is very hard to find. Going into Fractal, which has the largest CPG customers in their portfolio and large teams in AI/ML, we can take the solution and scale very fast.”
Not just a product acquisition
There is more to the deal than meets the eye.“We are also bringing in some organisational level changes so that we can leverage some of the teams at Samya to build Fractal to the next level,” said Velamakanni.
“The acquisition is dual purpose. One is to see if Shailendra and I can help with the larger purpose of Fractal and make it into the next billion-dollar company,” said Pavan Palety, Chief Customer Officer at Samya.
“Samya can grow under the experience of Fractal. Currently, we have one product that we have built. We need to expand that to a whole Revenue Growth suite of products,” he added.
Fractal aims to give Samya the independence it needs when it comes to its operations.
“We definitely expect that the product companies from Fractal have an independent go-to-market and they should independently be able to raise money,” said Velamakanni.
“Fractal’s commitment to independent Enterprise AI product and SaaS businesses is commendable. It is a great contribution to the start-up ecosystem in India.” said Deepinder Dhingra, Chief Product Officer at Samya,
“Their ability to appreciate and embrace Samya’s Revenue Growth AI, vision & product and commitment to building and scaling it further was a key aspect in the decision to join hands with Fractal,” he added.
A runaway success
Samya.ai was founded in January 2020. “Samya has achieved milestones both on the product and customer side much faster than typical Enterprise AI SaaS startups, especially for this high-value problem space in CPG,” said Dhingra.
“Part of our early success has to do with the connections Shailendra and I had when we started Samya. We have been fast to market that way as compared to typical SaaS companies.” said Palety, “ We also have worked to get a variety of good advisors on board.”
In a short span of time, Samya built a product addressing a real need in the market.
“What we usually see that eight to ten years old companies are a right strategy-fit for us as that is the time that people have got a certain runway and they are thinking what next,” said Velamakanni.
“But a young company like Samya has a great vision and built a product that has already been validated by clients. For them as well, it felt that this was the right home because of Fractal’s CPG expertise overall,” he added.