Investment

Fracttal raises US$2M to boost international expansion

Chilean SaaS startup, Fracttal won Start-Up Chile‘s Demo Day in 2015, and has gone on to operate in 22 countries worldwide. This month, Fracttal raised US$2M in a round led by Scale Capital through the Emprendedor Amérigo Chile Early Stages & Growth Fund and Oliver Flögel, who as a result joined the company’s board.

Fracttal was founded in 2014 by Colombian and Venezuelan entrepreneurs who developed an all-in-one software system to manage the lifecycle and maintenance of assets. The company already has offices in Brazil and Colombia, and is planning to expand to Mexico with the new capital injection. Nonetheless, the software is in use in 22 countries and in 330 companies.

The software, which resides fully in the cloud, is said to increase asset productivity by 35% (by preventing failures) and reduce unplanned halts by 55% to help plan maintenance more effectively.

Investor Oliver Frögel has high hopes for Fracttal as a model for the region. He stated in the original article for PulsoSocial:

“Our bet on Fracttal is based the fact that they have all the elements to become an example for the asset management industry in the region, generating value through the Internet of Things, in combination with artificial intelligence.”

Fracttal’s sales are predicted to double this year and this new investment will certainly put the SaaS company on the path for success. Fracttal is now Amerigo’s sixth portfolio company.

Read more about Fracttal in the original article for PulsoSocial,  in Business News Americas, or on LAVCA.

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