FTVentures Commits $30 Million to Mu Sigma
Investment Will Fuel Expansion of Pure-Play Data Analytics Outsourcing Firm
CHICAGO, IL – September 24, 2008 – Mu Sigma, the leading independent provider of high quality analytical decision support services, today announced that FTVentures, a growth capital investor with over $1 billion in assets under management, has committed $30 million to the Company. The funding will support the further expansion of Mu Sigma’s high end analytics capabilities delivered from its Bangalore, India delivery center.
“Mu Sigma is at the forefront of helping corporate clients cost-effectively deliver analytics within their firms,” said Brad Bernstein, FTVentures Partner and new member of the Mu Sigma board of directors. “The company recruits and trains the best and brightest mathematicians in India and provides cutting edge analytics and a client partnership approach to business decision support. Mu Sigma’s capabilities have been vetted by some of the most successful companies in the world and are in high demand by FTVentures’ strategic limited partners, who are seeking a long-term partner to help more efficiently analyze and leverage the massive amounts of data being generated by their organizations. Mu Sigma integrates quantitative analytics and deep domain expertise to provide more than a dozen fortune 500 clients, such as Microsoft, Wal-Mart, and Pfizer, insightful and actionable results.”
“FTVentures brings highly relevant expertise and an extensive network in the financial services industry, as well as a successful track record in helping to grow offshore outsourcing companies,” said Dhiraj Rajaram, Chief Executive Officer at Mu Sigma. “Analytics is the next significant frontier in outsourcing; at Mu Sigma, we are leveraging the exceptional talent available in India and offering a convincing value proposition to leading global corporations. The investment by FTVentures will help Mu Sigma continue its momentum in penetrating the financial services, health care, retail/consumer packaged goods, and technology verticals. Mu Sigma currently employs 400 highly educated and well trained analysts and we are looking to more than double in size over the next two years.”
About Mu Sigma
Mu Sigma is a knowledge process outsourcing firm that provides high quality analytical decision support services to its clients in a cost effective manner. Mu Sigma is headquartered in Chicago, IL, with an offshore delivery center in Bangalore, India. Mu Sigma helps clients institutionalize analytics in their organizations through a global delivery model, augmenting a client’s internal decision-making leadership with an onshore team of domain experts and business professionals and a dedicated offshore team of mathematicians and scientific practitioners. Mu Sigma recruits from the best universities in India (IITs, IIMs, ISI) providing their clients access to world class quantitative talent cost effectively. The Company leverages best-in-class processes and domain expertise in statistics, econometrics and operations research to provide advanced analytics and business intelligence specializing in areas like marketing, risk and supply chain. For more information, please visit www.mu-sigma.com.
About FTV Ventures
FTVentures provides growth capital to companies seeking to finance organic expansion, recapitalizations, build-ups and buyouts. The firm invests in business services and software companies that derive value from its unmatched Global Partner Network, which includes the world’s leading financial institutions. FTVentures’ Global Partner Network provides the firm with a unique vantage point into the business driven and operating challenges of the global enterprise. Founded in 1998, FTVentures currently has over $1 billion under management with offices in San Francisco and New York. For more information, please visit www.ftventures.com.
Karen Derr Gilbert