Reinsurance News

Fractal becomes QOMPLX, raises $78.6m Series A led by Cannae & Motive Partners

23rd July 2019 - Author: Steve Evans

Fractal Industries Inc., the financial technology firm with a focus on insurance, cyber security and quantitative finance has rebranded itself as QOMPLX™ and announced a $78.6 million Series A financing led by Cannae Holdings, Inc. and Motive Partners.

qomplx-logoQOMPLX, as it shall now be known, describes itself as an intelligent decision platform provider and expects to put the growth capital raised through its Series A to use in rapidly growing its business and accelerating growth.

The firm utilises advanced software techniques including artificial intelligence and machine learning to help organisations better manage data, understand it and as a result make better decisions, using their decision platforms.

Cannae Holdings, Inc. is a diversified holding company with over $1 billion in book value in assets, while Motive Partners is a specialist investor in fintech, with a specific focus on the companies that power the financial services industry of the future.

QOMPLX says that its platforms can help companies to integrate disparate data sources across the enterprise, bringing them together using a unified analytics infrastructure to empower them to make better decisions.

Highly relevant to insurance and reinsurance sector firms, where data sources are often disparate and unification of data has been a goal for many years.

In addition, the broader analytics infrastructure is provided though QOMPLX OS, an enterprise operating system that powers decision platforms targeting the cybersecurity, insurance underwriting, and quantitative finance sectors.

“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 William Foley II, Chairman of Cannae Holdings, Inc., who joins the QOMPLX’s Board of Directors with this investment. “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. 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.”

“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,” explained Rob Heyvaert, Managing Partner at Motive Partners. “We believe this is a highly complimentary investment to Motive Partners’ 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. We look forward to working with Jason and the management team to grow this extraordinary business within our partner ecosystem and beyond.”

“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,” Jason Crabtree, CEO, QOMPLX commented. “At QOMPLX 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.”

The company says that its new brand name QOMPLX symbolises the firm’s ability to solve complex real-world problems at scale.

As Fractal, the company recently announced the launch of a new managing general agency (MGA) to provide insureds with a single insurance policy for multiple perils, as well as its platform’s hosting of a range of Oasis powered catastrophe risk models.

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