Mu Sigma, a US–based provider of data analytics and decision-support services to large companies, has raised an undisclosed amount of strategic funding from credit card provider MasterCard.

Previously, Mu Sigma reportedly raised more than $130m from private equity and venture capital firms General Atlantic and Sequoia Capital.

As part of its equity stake purchase, MasterCard said its Advisors division’s aggregated and anonymous purchase service would partner with Mu Sigma to develop products.

As part of the strategic partnership MasterCard has acquired an equity stake in Mu Sigma. Additional terms of the deal were not disclosed.

According to research by Wikibon, the so-called big data analytics market stood at $5bn last year and is expected to grow at 58% per year by 2017.

Gary Kearns, executive vice-president of information services for MasterCard Advisors, said: “The data analytics market is rapidly growing as customers seek real time insight…

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