General Atlantic and an investor group including Sequoia Capital have invested $108 million in decision sciences and analytics services company Mu Sigma.
The transaction marks Sequoia’s second investment in Mu Sigma, having invested a total of $25 million from its India and US growth funds in June 2011. Mu Sigma advises businesses on decisions in the areas of marketing, supply chain and risk analytics. The company is based in Chicago but has its main delivery centre in Bangalore, India, where 1,300 of its 1,500 total employees are based, a spokesperson for the company told Private Equity International.
General Atlantic chief executive officer Bill Ford said in a statement that the analytics and decision sciences sector is a “rapidly emerging field” due to the “big data phenomenon…creating huge challenges for corporations as they look to better harness information to accelerate and improve decision making”.
Mu Sigma generated revenue growth of 886 percent between 2008 and 2010, according to a statement, placing it on the Inc. 500 list of America’s fastest growing companies.
General Atlantic was an active investor in 2011, completing 15 deals in more geographically diverse regions than ever before, according to a spokesperson for the firm. General Atlantic invested nearly $2 billion last year in countries including Brazil, China and India.
The firm has a number of existing investments in the business services sector, including third-party administrative services company TASC, human resources and outsourcing company TriNet and business process management company Genpact.
General Atlantic’s team of 75 investment professionals invest from a renewable evergreen structure and manage $17 billion in capital.