Analytics services company Mu Sigma has closed a $108 million investment round led by General Atlantic. This is believed to be the biggest private-equity investment made to date in the emerging market for analytics services, and follows Mu Sigma’s April 2011 $25 million round led by Sequoia Capital. Sequoia also participated in the latest round.
Mu Sigma is already profitable and can finance its own operations. The company says it will use the investment funds to accelerate growth. A portion of the proceeds are being used to purchase shares held by existing shareholders, all of whom will continue to have stakes in the company.
Mu Sigma’s 2008-2010 revenue growth of 886 per cent earned Mu Sigma a spot in the Inc. 500 list of America’s fastest-growing private companies. The company was founded in 2004.