Mu Sigma helps big companies across several industries — including many Fortune 500 companies — manage their overwhelming amount of online data by translating it into analytics and digestible observations. The new funding is one of the largest raised by a big data startup. The company claims its already profitable — with revenue between 2008 and 2010 growing 886 percent.
The new capital will be used to buy shares back from existing shareholders, acquire new customers and develop more services for current customers.
Founded in 2008, the Chicago-based startup previously received $25 million in funding in April 2011 from Sequoia Capital. The new round of funding was led by growth equity firm General Atlantic with additional participation from Sequoia. Mu Sigma has raised a total of $133 million to date.
Copyright 2011, VentureBeat