A whole new ballgame is beginning for Reston-based Fractal Industries.
The analytics and insurance software provider today announced it closed its Series A funding round totaling $78.6 million, led by Cannae Holdings and Motive Partners. Coinciding with the fresh round, the company changed its name to QOMPLX.
The tech firm will use the capital to expand its headcount – currently at about 100 – and accelerate growth, according to a release.
Qomplx makes software that allows organizations to integrate disparate data sources across the enterprise into a unified analytics infrastructure to make better decisions.
Its business revolves around the Qomplx OS platform, which the company describes as analytics-as-a-service with modeling, deep learning and AI capabilities designed for financial services, insurance and cybersecurity. The platform maps operational systems pieced together from clients' data flows, allowing them to analyze potential outcomes through simulations.
The company was co-founded in 2015 by CEO Jason Crabtree and Andrew Sellers, a Truman scholar and Air Force Academy graduate. Cannae Holdings Chairman William Foley II joined Qomplx's board as part of the investment deal, which brings its total funding to more than $100 million.
“QOMPLX is well positioned for rapid growth as a mission-critical technology infrastructure company,” Foley said in a statement. “The company’s leadership has a long-term vision to help organizations see data and disparate systems not as a negative but as an opportunity to build competitive advantage."
RBC Capital Markets served as financial advisor to Qomplx for the deal, along with Morrison & Foerster as its legal advisor.
