User:Truecost/sandbox
 | |
| Company type | Private |
|---|---|
| Industry | financial services
wealth management asset management fintech business intelligence |
| Founded | 2009 |
| Headquarters | Atlanta, Georgia |
Key people | Raj Udeshi, Founder; Praveen Ghanta, Founder |
| Products | Business Intelligence Platform for Wealth Management
Investment Proposal Generation Risk Analytics Macro Economic Research |
Number of employees | 24 |
| Website | http://www.hiddenlevers.com/ |
Fraction (previously known as fraction.work) is a technology services provider that specializes in helping companies hire software developers, product managers, and others on a fractional (long-term, part-time) basis, enabling employers to tap into talent that would otherwise be unavailable in the job market.[1] The firm focuses on connecting businesses with experienced employees based solely in the United States. Fraction uses a subscription-based monthly pricing model similar to SaaS companies.[2]
Business model and services
[edit]Consultants working with Fraction often have full-time employment, but have spare time in which to engage on either a quarter-time or half-time basis with a client. While unemployment in the Information Technology sector is below 2% as of July 2023, the vast majority of professionals engaged in remote work are open to additional fractional work.[3] Fraction has similarly found that 50% of software developers and those in software product roles are interested in the fractional work concept.
Fraction currently works with software technologists across a range of roles:
- Senior Software Developers
Fraction has achieved growth in its business by successfully matching fractional technologists with clients, enabling it to reach profitability within its first year of operations.[4]
Key personnel
[edit]Praveen Ghanta, Founder and Chief Executive Officer
Praveen Ghanta started working on the concept for Fraction in mid-2022. He was previously Executive Vice President for Risk at Orion, having sold his prior firm HiddenLevers to Orion in March 2021.
In 2020, Wealth Management magazine named him one of its annual "Ten to Watch."[5]
Jeffrey Baker, Co-Founder
Jeffrey Baker manages business development for Fraction, and previously managed business development at HiddenLevers. Prior to HiddenLevers, Jeffrey Baker was employed as an investment analyst at Atlanta Consulting Group.
Alyssia Maluda, Co-Founder
Alyssia Maluda manages operations and client delivery for Fraction, and previously managed customer success at HiddenLevers. Alyssia provided software project management support for the World Bank and its projects in Malaysia prior to joining the Fraction founding team.
History
[edit]Fraction was founded in July 2022, and experienced rapid growth thereafter, crossing an annual revenue run rate of $1M in January 2023.
Fraction continued to grow rapidly, crossing a $2M annual revenue run rate by April 2023, three months after reaching $1M.[6]
Fraction joined the Atlanta Tech Village in November 2022, and shortly thereafter launched the Emerging Founders by Fraction program to help support under-represented entrepreneurs in Atlanta.[7][8]
- ^ Travers, Kevin (2023-04-08). "How ChatGPT is changing the job hiring process, from the HR department to coders". CNBC. Retrieved 2023-08-21.
- ^ "Fraction Pricing - Hire Software Developers". hirefraction.com. Retrieved 2023-08-21.
- ^ "How many remote workers have two jobs?". www.hcamag.com. Retrieved 2023-08-21.
- ^ Ehlinger, Maija (2023-04-28). "7 Startup Execs Share Their Tips On Reaching Profitability". Hypepotamus. Retrieved 2023-08-22.
- ^ "Ten to Watch in 2020: Praveen Ghanta". Wealth Management. 2019-10-30. Retrieved 2023-08-22.
- ^ "Fraction Rides ChatGPT Wave and Hits $2 Million ARR". Yahoo Finance. 2023-04-21. Retrieved 2023-08-21.
- ^ Armstrong, Zach (2023-02-09). "Atlanta founder self-funds office space for diverse founders". www.bizjournals.com. Retrieved 2023-08-22.
- ^ White, Martha C. (2023-05-12). "Once an Evangelist for Airbnbs, She Now Crusades for Affordable Housing". The New York Times. ISSN 0362-4331. Retrieved 2023-08-22.