Sigmoid, a United States-based data engineering, analytics and artificial intelligence (AI) solutions company, announced Thursday that it has closed a Series B investment of $12 million, 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, Sigmoid said in a statement.

The new capital will 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, Chief Executive Officer and Co-Founder at Sigmoid.

According to the statement, many large enterprises in consumer packaged goods (CPG), retail, financial services, and other industries turn to Sigmoid to extract strategic business value from data and make smarter business decisions.

As an example, for a multinational CPG company, Sigmoid developed self-adapting Multi-Touch Attribution models to enable in-flight campaign optimization, which provided a 11 percent improvement on the return on marketing investments.

“The AI/machine learning (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 IIT alumni Lokesh Anand (Chief Executive Officer), Mayur Rustagi (Chief Technology Officer) and Rahul Kumar Singh (Chief Administrative Officer), Sigmoid helps enterprises organize and manage their data better, extract insights, build predictive systems, and extract the highest ROI from their data investments.

The firm combines data engineering and AI consulting to help enterprises gain competitive advantage through effective data-driven decision making. Some of the world’s largest data producers are engaging with Sigmoid to solve complex business problems.

Sigmoid’s team of 550+ data professionals provide deep expertise in data engineering, cloud data modernization, artificial intelligence, and DataOps.

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