Mu Sigma

Mu Sigma is an American data analytics firm providing big data services, decision sciences and helping enterprises in data-driven decision making. The company headquartered in Chicago, Illinois partners with over 140 Fortune 500 companies to enhance their analytical and decision-making capabilities. The firm's name is derived from the statistical terms "Mu (μ)" and "Sigma (σ)" which symbolize the mean and the standard deviation, respectively, of a probability distribution.

Mu Sigma Inc.
TypePrivately Owned
IndustryManagement consulting
Founded(2004)[1]
FounderDhiraj Rajaram
HeadquartersChicago,
Illinois
ServicesData analytics
Number of employees
3,500+ (2016)[2]
Websitewww.mu-sigma.com

History

Mu Sigma was founded by Dhiraj Rajaram, a former strategy consultant at Booz Allen Hamilton and PricewaterhouseCoopers, in 2004.[1] In 2008, Mu Sigma raised its first institutional investment round of $30 million from FTVentures (now FTV Capital).[3] In April 2011, the company raised an additional $25 million from Sequoia Capital.[4] In December 2011, the company announced a $108 million round of financing from Sequoia and growth equity investor General Atlantic.[5] In February 2013, Mu Sigma received an investment of $45 million from MasterCard, which placed the company over the $1 billion (Rs. 5,400 crore[lower-alpha 1]) milestone.[6]

In early 2016, the company was sued by Aon Corp founder Pat Ryan, who discussed that Mu Sigma lowballed its own growth prospects in order to buy back Ryan's stake in the company.[2]

In October 2016, after the divorce of Ambiga Subramanian, who was serving as CEO at the time, Dhiraj Rajaram assumed the role of CEO.[7][8]

Locations

Mu Sigma is headquartered in Chicago, Illinois and has a global delivery centre in Bangalore. It also has an office in Austin, Texas.

Recognition

Mu Sigma was ranked #907 on the 2012 Inc. 5000 list of America's fastest-growing private companies. In 2011 the company ranked #386, and in 2010, it ranked #204.[9]

References
  1. "Getting the numbers right". EMERGE Forum. NASSCOM. September 27, 2011. Archived from the original on May 25, 2012. Retrieved Jun 18, 2012.
  2. Mehrotra, Kartikay (10 March 2016). "Aon founder Pat Ryan sues Mu Sigma, claims lowball buyout". Chicago Tribune. Retrieved 21 December 2017.
  3. "FTVentures Commits $30 Million to Mu Sigma (press release)". FTVentures. September 24, 2008. Archived from the original on October 26, 2012. Retrieved June 18, 2012.
  4. "The Daily Start-Up: Sequoia Makes "Big Data" Move With Mu Sigma". Venture Capital Dispatch. The Wall Street Journal. June 6, 2011. Retrieved June 18, 2012.
  5. "Mu Sigma Lands Big Money for Big Data". The Wall Street Journal. December 29, 2011. Retrieved November 23, 2012.
  6. "Mu Sigma attracts a clutch of foreign investors, gets valued at billion, Dhiraj Rajaram is now king of data analysis,data science and predictions by". The Times Of India. February 20, 2013.
  7. "'Unicorn' Mu Sigma founder Dhiraj Rajaram takes control, including role of CEO,from estranged wife". 5 October 2016.
  8. "Mu Sigma's Ex-CEO Ambiga Subramanian To Roll Out Her Own Social Media Startup Hyphen.Social". Inc42 Media. 2017-11-10. Retrieved 2018-06-14.
  9. "Inc. 5000 Profile". Inc. September 2011. Retrieved June 18, 2012.

Notes
  1. At time of transaction
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