Mu Sigma

Mu Sigma is an Indian decision sciences firm that primarily offers data analytics services. 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 is headquartered in Chicago, Illinois and has a global delivery center in Bangalore.

Mu Sigma Inc.
TypeIndian Privately 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 Dhiraj Rajaram took over the role of CEO from his estranged wife, Ambiga Subramanian, who was currently serving as CEO at the time. The couple split in 2016, post which Dhiraj became the CEO.[7][8]

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]

Controversies

The company was accused of circumventing US visa regulations by bringing in employees on a B1 visitor visa and misrepresenting the nature of their intended business. "Visa Fraud". Inc. September 2019. Retrieved September 21, 2019.

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. http://www.financialexpress.com/industry/unicorn-mu-sigma-founder-dhiraj-rajaram-takes-control-including-role-of-ceofrom-estranged-wife/406130/
  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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