Mu Sigma, a provider of analytics and data-driven decision support services for enterprise customers, has raised $108 million in funding in a round led by growth equity firm General Atlantic.
The financing comes about half a year after Mu Sigma raised $25 million from Sequoia Capital, which also participated in this round.
Headquartered in Chicago with most of its 1,500+ employees working out of Bangalore, India, Mu Sigma is a professional services firm that helps companies analyze ‘big data’ to “institutionalize decision support”.
In a statement, Mu Sigma says it is already profitable and able to finance its operations on its own, but that it raised more venture capital to ‘accelerate growth’.
A portion of the new capital will be used to purchase shares held by existing shareholders, but the company did not disclose which shareholders and how much of the $108 million injection will be reserved for the buybacks.
Mu Sigma did say all current shareholders will retain stakes in the company.
More in this Wall Street Journal article.
Mu Sigma, one of the world’s largest Decision Sciences and analytics firms, helps companies institutionalize data-driven decision making and harness Big Data Analytics and data-driven decision making have been well recognized as a distinctive competitive advantage in a world of Big Data and increasing business complexity. However, organizations are challenged with scaling the use of analytics and making it an integral part of all business decisions. Mu Sigma addresses this critical need and enables organizations to institutionalize analytics and Decision...
General Atlantic is a leading global growth equity firm providing capital and strategic support for growth companies. They combine a collaborative global approach, sector-specific expertise, and a deep understanding of growth drivers to partner with great management and build exceptional businesses worldwide. As a growth investor for over three decades, GA consistently generates long-term, superior returns by investing in and working with strong management to build outstanding companies. The unique evergreen capital structures affords us the flexibility to function...
Sequoia Capital is a venture capital firm founded by Don Valentine in 1972. The Wall Street Journal has called Sequoia Capital “one of the highest-caliber venture firms” and noted that it is “one of Silicon Valley’s most influential venture-capital firms”. It invests between $100,000 and $1 million in seed stage, between $1 million and $10 million in early stage, and between $10 million and $100 million in growth stage. The firm has offices in the U.S., China, India and...
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