Sequoia India injects $12m into US data engineering firm

Sigmoid, a US-based data engineering company, has raised US$12 million from Sequoia Capital India in a series B funding round. So far, Sequoia Capital India’s has invested a total of US$19.3 million in Sigmoid.

From left: Sigmoid co-founders Lokesh Anand, Rahul Singh, and Mayur Rustagi / Photo credit: Sigmoid

Founded in 2013, Sigmoid aims to help organizations accelerate digitalization through better data and analytics governance and faster access to business insights. The company’s team consists of over 500 data professionals trained in data engineering, cloud data modernization, AI, and data operations.

The company said it had served large enterprises in consumer goods, retail, financial services, and other industries. “The last 12 months have been an inflection point in our growth story,” Sigmoid CEO and co-founder Lokesh Anand said in a statement.

Sigmoid has developed self-adapting multitouch attribution models to enable in-flight campaign optimization for a fast-moving consumer goods company, improved the trade surveillance infrastructure of an investment bank, and built a centralized data lake for a food manufacturer.

The fresh funds will help Sigmoid expand its market offerings and delivery centers and cater to new industries.

Sequoia Capital India and Sequoia Capital Southeast Asia have backed a wide range of companies, including GoTo, Kopi Kenangan, Freshworks, Polygon, and Zomato.

See also: Exclusive: Sequoia leads $1.2m raise in ex-Airbus exec’s greentech firm