Mu Sigma – Success Story
Mu Sigma- an internationally renowned, data Analytics Company was founded by Dhiraj C. Rajaram in India. This may be a billion-dollar company but people from other work fields may not have heard this company’s name before since it is the most overlooked success story of an Indian startup.
It is now of the fastest-growing companies in the world and has raised a total amount of 238.3 million dollars funding over a span of 16 years. It is immensely popular globally as it is the only data analytics company to have secured the largest funding round ever.
So we know of its huge success now, but do you know the story behind it?
The journey towards success:
The founder of Mu Sigma was an ambitious man who believed in never-ending trials and errors and believed vividly in luck. So he went through cycles of new experimentations, trials, failures until it ultimately led to his success.
He was working for Booz Allen Hamilton, when he realized that his clients were in dire need of people who were skilled in applied mathematics, data science, and computing altogether. This is when he started building new plans and Mu Sigma was founded in the year 2004.
Growth of Mu Sigma:
He relied on the capital invested and his manpower for the growth of Mu Sigma. A large investment was made by him- which was 80% of all his savings, as he believed he would be able to make a profit out of it. And yes, he was absolutely right!
So he believed in his startup and started searching for appropriate manpower and was quite selective while choosing his team. For the first 4 years, he had to handle the business alone, and once it gained momentum, finding skilled people became easier than ever.
Mu Sigma had raised its first funding of 30 million USD in 2008. The second round of 25 million dollars came in the year 2011 and the third round was 108 million USD- the largest funding received by a data analytics company.
With an investment of 45 million in 2013, the company entered the big league with a valuation of $1 billion.
From that time, the company has gained a worldwide reputation and recently received funding from Venture Series. It has been evolving over time and has been making a lot of profit at present. It is currently a unicorn startup and it surely deserves more recognition in India as well.
So, are you an entrepreneur searching for inspiration to open your own company? Well, I am sure the story of this startup will be a source of motivation for your entrepreneurial advancements. If you have a business idea, we would love to hear from you in Happython 2020!
AAIWay brings to you a golden opportunity for having your business ideas funded in Happython 2020 which is a startup pitch competition to be held on13th December. Your business ideas can be related to data analytics, robotics, web development or any one among the many areas of innovation encouraged by Happython. To learn more about Happython 2020, visit http://aaiway.com/events/
Event date: 13th December
Last date for registration: 5th December
So, what are you waiting for?
Register for Happython 2020 today and see your dream project take off!