Analytics and insurance software provider Qomplx (formerly Fractal Industries) today announced that it has secured $78.6 million in a series A funding round led by Cannae Holdings and Motive Partners, bringing its total raised to over $100 million. CEO Jason Crabtree, who cofounded the Reston, Virginia-based company with Andrew Sellers (a Truman scholar and Air Force Academy graduate) in 2015, says the capital infusion will be used to expand Qomplx’s workforce of over 100 people and accelerate growth.
“This investment strengthens our ability to work with enterprises that are struggling to integrate too many point solutions into something that allows them to make better decisions,” said Crabtree, a Rhodes Scholar who majored in engineering at West Point and the University of Oxford prior to leading U.S. Army troops in Afghanistan. “At Qcomplx, we are really focused on offering the advantages of a better integrated and more unified analytics infrastructure that does data collection, ingestion, schematization, normalization, semantification, storage, analysis, and even simulation modeling.”
Motive Partners’ Rob Heyvaert added: “Enterprises are struggling with enormous volumes of data, in a myriad of different formats from an ever-increasing number of sources. Qomplx’s analysis tools are designed to deliver a leading decision-making capability. We believe this is a highly complementary investment to [our] portfolio, backing Qomplx’s technology ecosystem and integration layer and the firm’s focus on providing customers with a true data-driven experience and better decision-making.”
Qomplx develops the eponymous Qomplx OS, which the company describes as an analytics-as-a-service platform with modeling, deep learning, and AI capabilities designed to address challenges in financial services, insurance, cybersecurity, and operational risk management. Qomplx OS builds knowledge graphs that map systems and piece together snapshots of those systems from actual data flows, letting customers explore hypothetical futures and outcomes through simulations.
Qomplx OS first collects, ingests, extracts, and cleans enterprise data from disparate sources before combining it with proprietary corpora and storing it in a datatype-agnostic, hybridized time-series format. Then, it dynamically performs work orchestration and model tuning, laying the foundation for digital replicas of real-world systems and virtual response and strategies testing.
With a library of customizable modules, including web scrapers, continuous workflow monitors, event series data stores, planning engines, chatbots, model managers, 3D renderers, geospatial indexing and rendering services, and more, Qomplx OS enables users to optimize workflows and select the conditions that trigger automatic actions and recommendations. Furthermore, it lets them choose how connected systems respond to unanticipated disruptions and new information, all while reusing approximately 90% of the same code and distributed systems infrastructure.
Qomplx isn’t currently volunteering client names but claims it has $1 billion in book value.
“Qomplx is well positioned for rapid growth as a mission-critical technology infrastructure company, and I look forward to working with them in my new role,” said Cannae Holdings chair William Foley II, who intends to join Qomplx’s board of directors. “The company’s leadership has a longterm vision to help organizations see data and disparate systems not as a negative but as an opportunity to build competitive advantage. We believe this investment will strengthen and solidify Qomplx’s market position as a committed partner to customers and leading provider in the rapidly growing data and analytics market.”
Source: VentureBeat
