Sigmoid Raises $12 Million In Series B Investment
The fund raised will be used to fuel the company's plan to evolve its market offerings, expand delivery centers and cater to new industries
Sigmoid, a data engineering, analytics and AI solutions company, has raised $12 million in a Series B investment, in a mix of primary and secondary funding from Sequoia Capital India. This takes Sequoia Capital India's total investment in Sigmoid to $19.3 million. The fund raised will be used to fuel the company's plan to evolve its market offerings, expand delivery centers and cater to new industries.
"The last 12 months have been an inflexion point in our growth story. As we gear towards our next phase of growth, we are happy to see Sequoia Capital India continue to believe in us. This will help us to rapidly expand our capabilities in terms of solutions and talent to meet the ever-growing customer demand," said Lokesh Anand, CEO and co-founder, Sigmoid.
Sigmoid is a team of more than 500 data professionals, providing deep expertise in data engineering, cloud data modernization, artificial intelligence, and DataOps. For a leading F500 FMCG company, Sigmoid developed self-adapting multi-touch attribution models to enable in-flight campaign optimization, generating faster bi-weekly insights in a cost effective manner. This resulted in an 11 per cent improvement on the return on marketing investment, claimed by the company in a statement.
"The AI/ML market continues to grow year-on-year and alongside, the need for solutions to help enterprises adopt and harness this power is growing exponentially. The team at Sigmoid, which stands out for its data and AI engineering excellence, are well-positioned to capture this opportunity. As long term partners, we are excited to double-down on their goal to be the premier engineered data solutions and AI provider for accelerating digital transformation for enterprises across industries," said Anandamoy Roychowdhary, principal, Sequoia Southeast Asia.
Founded in 2013 by Lokesh Anand (CEO), Mayur Rustagi (CTO) and Rahul Kumar Singh (CAO), Sigmoid is rightly positioned to accelerate digital transformation for enterprises across industries, with data. Sigmoid builds reliable, scalable data pipelines and accelerators which empower organizations with faster access to business insights.