Many businesses are finding it hard to track news cycles, monitor markets and manage change in a world where there is so much information available and also many fake or unreliable news sources. British AI-powered information intelligence company Signal Media just announced that it has raised a further €6.9 million in funding. It will expand further to help monitor news media.
Signal Media is an AI-powered information intelligence company that transforms the world’s information into accessible, actionable business knowledge. Knowledge workers, communications teams and research executives use Signal’s AI to monitor the world’s news media. Signal principally targets the financial services, legal and professional services sectors. Its technology analyses more than two million articles per day across 90 countries to curate real-time, accessible, actionable knowledge on everything from competitor activity to reputational threats and market movement. Signal is used by UK’s financial, legal and professional services businesses such as Freshfields, Old Mutual Wealth and PageGroup.
David Benigson, CEO of Signal: “High volumes of poor quality information is making it impossible for leaders to understand what is really happening in their world. Our technology helps businesses track change and make smarter, faster decisions with certainty and clarity. This funding will fuel our global growth and drive product development.”
The fresh capital will enable Signal to deepen its news coverage in markets, where it has grown its client base from 10 to 100 in just 12 months and also expand to new verticals including Health, Pharma and Technology. It will also fuel Signal’s growth in the US. The investment will also be used to further bolster Signal’s senior team.
The current announcement on funding brings total investment in this startup company to €9.9 million. The business has tripled its headcount since seed investment, and currently employs 50 people worldwide, having achieved over 500% YoY revenue growth during 2015-16.