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Mu Sigma raises $25 Million from Sequoia Capital
By siliconindia
Santa Clara: Chicago-based Mu Sigma, a leading provider of decision sciences and analytics services, raises series C funding of $25 million from Sequoia Capital. With more than 1,200 analysts, uses them to crunch numbers and help corporate teams use data in various decision-making processes. FTV is among other investors.
The company has more than 50 Fortune 500 companies, including Microsoft and Dell as their clientele. It helps its clients to make better business decisions through the use of applied math, business and technology. It has its main delivery center in Bangalore, India.
Shailendra Singh, Managing Director at Sequoia Capital, said, "Mu Sigma is the most impressive analytics services company we have met in years and the only one of its kind to deliver business analytics at scale for many Fortune 500 clients using a global delivery model. The big-data phenomenon presents a massive opportunity for large corporations that can use analytics to make the right business decisions quickly and drive improvements to their top and bottom line. Mu Sigma is an enabler for that. Most importantly, Dhiraj and the management team have the vision and execution capability to build an enterprise for the very long term and we are delighted to partner with them in their mission of building the world's largest analytics services company."
According to a research report recently issued by global consulting firm McKinsy, in order for businesses to handle an explosion of big data, another 140,000-190,000 deep analytical talent positions need to be created in the coming years. Mu Sigma is trying to bridge this gap. Dhiraj Rajaram, Founder and CEO, Mu Sigma, said, "Companies today have vast amounts of data that they have collected over the last few decades. To understand all this data, Decision Sciences is going to play a much bigger role in the coming years. Through our work with many market leading Fortune 500 companies such as Microsoft and Dell, we have enabled them to chart, implement and execute through a roadmap in decision sciences and analytics."
