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.