General Atlantic invests $108m in Mu Sigma

Existing investor Sequoia Capital also increased its stake in the Chicago-based company, which provides analytics and decision support services for global enterprises from its main delivery center in Bangalore, India.

Mu Sigma, which employs 1,500 analytics professionals, will use some of the new capital to buy shares held by existing shareholders. The company was founded by current CEO Dhiraj Rajaram in 2004 and generated revenue growth of 886% between 2008-2010.

In 2011, consulting firm McKinsey reported that it expects digital information to increase 20-fold by the year 2020. It also predicts that another 140,000-190,000 deep analytical jobs need to be created in the coming years in order for businesses to handle extra data sets too big for current database technology.

"We have long known and admired Mu Sigma for the strength of its management team and its innovative service offerings. The Big Data phenomenon is creating huge challenges for corporations as they look to better harness information to accelerate and improve decision making," said Bill Ford, CEO of GA, who joins the Mu Sigma board.

Shailendra Singh, managing director at Sequoia, added: "Mu Sigma has world-class analytics capabilities, a unique operating model and a refreshing and unconventional culture that continues to create tremendous client impact."

This investment com after Sequoia led a $25 million round for the firm last April.

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• Topics
• South Asia
• Expansion
• Support services
• India
• Growth capital
• General Atlantic
• Sequoia Capital