General Atlantic leads $108m round for analytics services company Mu Sigma

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Mu Sigma a Chicago-based provider of analytics and decision support services, has closed a $108m investment round led by General Atlantic. The deal 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 $25m round led by Sequoia Capital.

Mu Sigma is already profitable and can finance its own operations, but said it will use the investment funds to accelerate its growth in the burgeoning analytics services market. 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.

Earlier this year, global consulting firm McKinsey issued a research report estimating that the universe of digital information will increase another 20-fold by the year 2020.

“We are excited to partner with the clear market leader in the rapidly emerging field of analytics and decision sciences for large global enterprises,” said Bill Ford, CEO of GA, who will be joining the Mu Sigma board. “The Big Data phenomenon is creating huge challenges for corporations as they look to better harness information to accelerate and improve decision making.”

Since its founding in 1980, General Atlantic has been an investor in a number of business services companies globally. Current business services sector investments include TASC, QTS, exp, TriNet, Genpact and ServiceSource.

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