Many companies implement media monitoring, where news sources and other public information outlets are regularly scanned for mentions of certain organisations It is a well-established service that lets companies gain market intelligence and analyse sentiment around their businesses.
London-based Signal AI, which applies Artificial Intelligence (AI) to the public data to spot risks and opportunities is one of the companies that use media monitoring. The company uses the information to make better decisions and take its business to new markets.
Raises €22.5M funding
Signal AI just announced that it raised $25 million (nearly €22.5 million) Series C funding led by Redline Capital along with participation from previous VCs such as Gousto-backer MMC Ventures, Buzzfeed investor Hearst Ventures, and GMG Ventures. Though this takes the overall funding raised by the company to $43 million (nearly €39 million), there is no word regarding its valuation.
Founded in 2013 by Miguel Martinez-Alvarez and David Benigson, Signal AI recently opened offices in Hong Kong and New York. With roots in media monitoring and market intelligence, Signal AI will use this new capital to further branch out into new use cases, as well as accelerate its rapid growth in the US and cement its recent launch in the APAC market.
This funding comes after a period of explosive growth for Signal AI, growing revenue by over 130% in the last 12 months and more than doubling its number of customers in the same period. Signal AI has more than 150 employees worldwide, having expanded its global footprint with offices now in London, New York and Hong Kong. Numerous Global Fortune 1000 list clients include Deloitte, HSBC and MSL Group.
Signal AI is disrupting the established market intelligence players in the UK PR & Comms space, and now increasingly in the US. Their AI technology is also being leveraged by business leaders in other sectors to make informed decisions on the things that matter to them from a range of risk types concerning Reputation Risk, ESG, Tax, Compliance and Regulatory monitoring, right through to discovery applications relating to Deal Origination.
Signal AI’s proprietary artificial intelligence is unique!
Signal AI’s proprietary artificial intelligence is unique to the market in not only the data which it continually mines in real-time but also in the artificial intelligence layer that allows companies to train Signal AI to recognize key themes, risks or opportunities that exist in their market sectors. This enables knowledge workers and executives to make more informed decisions with the help of AI and machine learning.
The company was also previously called Signal Media and worked around the task of media monitoring tracking how companies were being monitored. It was later rebranded Signal AI. It sits in a new and yet-to-be-clearly defined area of business. With Artificial Intelligence and media monitoring, it helps companies stay on top of the news and data related to their industry. Notably, with clients including HSBC and Deloitte, the company has reported revenue growth of over 130% in 2018.
David Benigson, CEO and founder of Signal AI said, “We are building artificial intelligence and machine learning technologies that learn what an executive needs to know and investigate huge amounts of data to provide critical insights in real-time”.
Main image picture credits: Signal AI
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