Altimetrik in Southfield Draws Majority Investment from TPG in San Francisco

Altimetrik, a pure-play digital business company in Southfield, today announced it has signed an agreement for San Francisco alternative asset firm TPG to make a majority investment in the company. Terms of the deal were not disclosed.
Southfield digital business company Altimetrik in has agreed to a majority investment from San Francisco alternative asset firm TPG. // Stock photo

Altimetrik, a pure-play digital business company in Southfield, today announced it has signed an agreement for San Francisco alternative asset firm TPG to make a majority investment in the company. Terms of the deal were not disclosed.

TPG’s investment, made through its TPG Asia private equity platform, is expected to enhance Altimetrik’s brand and support its goal of reaching $1 billion in annual revenue within the next three years.

“This partnership will propel Altimetrik in the next step of our journey to develop further innovations for digital business and deliver business outcomes for new and existing customers,” says Raj Sundaresan, CEO of Altimetrik.

“TPG has a long track record of investing in successful enterprise tech companies and their extensive capabilities that can enhance our expansion strategy as we build on the strength and visibility of our brand. With this partnership, we can focus on leading the digital business landscape and expand our reach worldwide.”

Altimetrik’s digital business methodology (DBM) is a tool for businesses that seek a holistic approach and solutions to platform modernization, cloud, data, and AI that provide revenue growth and cost reduction. Its customers are served by more than 6,000 employees in offices and development centers around the world.

The company will continue to be led by Sundaresan with support from a leadership team including Raj Vattikuti, founder and executive chairman, and Adam Caplan, president of digital business and AI.

“Altimetrik’s unique value proposition, combining a proven methodology with strong engineering capabilities and talent development initiatives, aligns perfectly with our investment strategy and portfolio,” says Puneet Bhatia, co-managing partner and country head, India at TPG Capital Asia. “The company has already demonstrated a strong growth trajectory, and this investment will empower Altimetrik to expand its reach. We look forward to partnering with the founder and management team to accelerate the company’s growth.”

Using TPG’s global operations capabilities and sector expertise, the partnership will support Altimetrik’s expansion into new markets and verticals and provide additional growth opportunities for employees, increasing its capacity to deliver digital business services and capabilities.

The company will look to expand into sectors including banking, health care, and insurance, where businesses are prioritizing bringing modern cloud and microservices architecture to legacy industry platforms with the goal of centralizing security and compliance to address emerging risks from hackers and data breaches.

“Digital Services is a key thematic focus area for TPG, and we’re excited to partner with a truly differentiated leader in the space, to grow the company’s outstanding customer franchise and continue enhancing its leadership in advanced data and digital engineering,” says Vivek Mohan, managing director at TPG.

Altimetrik has a blue-chip customer base through its approach to modernizing high-volume enterprise transaction platforms. By employing a rigorous engineering methodology, the company strives to deliver its clients market-leading reliability, scalability, continuous innovation, security, quality, and compliance; all without requiring change management or disruption of current business.

The Altimetrik DBM focuses on enterprise business growth and engages business stakeholders at their digital maturity level; prioritizing relevant use cases through a “bite-sized” approach to reduce risk. This approach is supported by a cloud-based Digital Business Platform (DBP) within the client environment, incorporating fully automated engineering environments, collaborative and end-end workflows, and a SSOT (single source of truth) for GenAI/AI.

With this methodology and platform driven approach, businesses are empowered to take ownership and create reusable data and innovation assets, as well as new internal and market-facing platforms to drive business operations optimization and innovation growth.

“Our business-led approach is recognized in the market and resonates with executives because they have struggled with complex digital transformation projects, keeping up with accelerated digitalization, and meeting the expectations of GenAI’s hype,” says Vattikuti.

“Altimetrik is well-positioned to bring the power of data and a secure, compliant, scalable approach to AI. In addition to our partnership with TPG and their portfolio of companies, we will continue to build on our partner network that includes companies such as, Snowflake, AWS, Azure, and additional innovators in the GenAI/AI space.”

TPG’s partnership comes as global spending on digital technologies and AI is projected to exceed $3.4 trillion by 2026. Many companies are experimenting with AI but often struggle to define the best use cases and develop a comprehensive data strategy to drive ROI.

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