Sigmoid, a San Francisco, CA startup helping firms in the U.S., UK, and Europe comb through their data and derive better insights from it, has raised $12 million in Series B funding following a strong year of growth.
The round was led by Sequoia Capital India. The investment giant, which unveiled $2.85 billion in funds earlier this year for India and Southeast Asia, has recently invested $19.3 million in Sigmoid, according to a statement.
Sigmoid has a team of over 500 people, aiming to double down in the next 12 to 18 months. About 80% of the startup’s current workforce is in India, with the rest spread over the U.S., the UK, and Europe.
Sigmoid intends to use the new funds to expand its offerings, build new capabilities, expand its delivery centers, and increase sales.
Currently, Sigmoid has its primary center in Bengaluru, along with in the U.S. — in the Bay Area, Dallas, New York — and Amsterdam. It is planning to open one center in the UK later this year and increase its headcount across all centers,
Company: Sigmoid, Inc.
Raised: $12.0M
Round: Series B
Funding Month: September 2022
Lead Investors: Sequoia Capital India
Additional Investors:
Company Website: https://www.sigmoid.com/
Software Category: Data engineering and AI solutions
About the Company: Founded in 2013 by IIT alumni Lokesh Anand, Mayur Rustagi, and Rahul Kumar Singh, Sigmoid is a leading data engineering and AI solutions company that helps enterprises gain a competitive advantage with effective data-driven decision-making. Sigmoid enables business transformation using data and analytics, leveraging real-time decisions through insights, by building modern data architectures using cloud and open-source technologies. The company generates actionable insights and translates them into successful business strategies. Its unique approach has positively influenced the business performance of our Fortune 500 clients across CPG, retail, banking, financial services, manufacturing, and other verticals.
Source: https://techcrunch.com/2022/09/14/sigmoid-sequoia-capital-india-series-b-funding/