Indian CEO Srikanth Velamakanni has successfully steered his company, Fractal Analytics, through an unprecedented crisis, keeping it afloat for 13 years and generating substantial revenue since its early days. Founded in 2000 by Velamakanni and four peers from IIM Ahmedabad, the company achieved a remarkable milestone of reaching a billion-dollar valuation after two decades of hard work, starting from a small apartment in Mumbai.
Velamakanni, an alumnus of the prestigious IIT Delhi and IIM Ahmedabad, initially worked for ANZ Investment Bank and later joined ICICI Bank, where he met his co-founder Pranay Agarwal. After gaining early success in India, serving clients like ICICI Bank and HDFC Bank, they expanded their business to the US in 2005. However, they faced a major setback the following year.
Born in 1974, Srikanth Velamakanni and the other co-founders worked together equally in the company’s early days. As the company grew, investors advised them to appoint a single CEO to scale the business. Velamakanni was chosen for the role, but disagreements among the co-founders led to three of them resigning in 2007. Reflecting on those challenging times, Velamakanni expressed his regret in an interview with MoneyControl, wishing he could have been a better CEO to prevent his co-founders from leaving.
While many startups nowadays can become unicorns within a few months, Fractal Analytics took its time and achieved this feat 21 years after its inception. With a valuation of over $1 billion (over Rs 8,200 crore), the company secured funding of $360 million. Now, the Group CEO has set his sights on a $2.5 billion IPO as the next significant milestone for Fractal. The company primarily generates revenue from the US, Australian, and Europe markets. Velamakanni’s ultimate mission is to build Fractal Analytics into a stable and enduring entity that lasts for the next 100 years.