Analytics firm Mu Sigma raises $108 million in investment from GA
29 Dec 2011
In one of the largest private equity deals for a business analytics firm, seven year old start-up firm Mu Sigma has landed $108 million in an investment round led by General Atlantic (GA).
The deal underscores MU Sigma founder Dhiraj Rajaram's early bet on analytics as the next big outsourcing segment from India.
Rajaram set up Mu Sigma's Bangalore-based development centre in 2004.
The deal marks the fourth round of fund raising for Mu Sigma and includes participation from existing investor Sequoia Capital with current investments totalling $50 million in the company.
According to Rajaram, the latest round of capital would go towards share buyback from some of the company's earlier investors including Erasmic Ventures who have exited the firm.
The firm expects to close 2011 with revenues of $75 million. The existing investors in the firm are GA, Sequoia and FTV Capital.
