Altimetrik gets ‘majority investment’ from San Francisco asset manager TPG

DETROIT–The IT services provider Altimetrik has disclosed a “majority investment” from TPG, Tarrant Capital IP LLC, a San Francisco money management firm with $224 billion in assets under management in more than 300 portfolio companies.

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

Altimetrik has established its digital business methodology as an invaluable 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 over 6,000 employees in offices and development centers around the world. Altimetrik will continue to be led by CEO Raj Sundaresan with support from a leadership team including founder and Executive Chairman Raj Vattikuti and President of Digital Business and AI Adam Caplan.

“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,” said Sundaresan. “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 unique value proposition, combining a proven methodology with strong engineering capabilities and talent development initiatives, aligns perfectly with our investment strategy and portfolio,” said Puneet Bhatia, co-managing partner and country head for India of 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.”

“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,” said Vivek Mohan, managing director at TPG.

Leveraging TPG’s global operations capabilities and deep 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, healthcare, 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.

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

“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. Altimetrik is well-positioned to bring the power of data and a secure, compliant, scalable approach to AI,” said Raj Vattikuti, executive chairman. “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 Salesforce.com, 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. Altimetrik’s trusted practitioners help customers realize the most value from their AI investments succeed at scale by bridging the gap between business and tech, ensuring secure, trustworthy AI solutions with responsible practices at the core.

Learn more about how Altimetrik has helped customers accelerate growth as digital businesses with greater consistency, speed, and scale.

TPG invests across a broadly diversified set of strategies, including private equity, impact, credit, real estate, and market solutions, and our unique strategy is driven by collaboration, innovation, and inclusion. Our teams combine deep product and sector experience with broad capabilities and expertise to develop differentiated insights and add value for our fund investors, portfolio companies, management teams, and communities. For more information, visit www.tpg.com.

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