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Posted on October 22, 2019 by staff

London start-up raises $25m for AI-powered market insight

London start-up raises $25m for AI-powered market insight

Signal co-founders Dr Miguel Martinez-Alvarez (left), and David Benigson (right)
Signal co-founders Dr Miguel Martinez-Alvarez (left), and David Benigson (right)

Fast-growing Hoxton-based artificial intelligence platform Signal AI has announced the completion of its Series C funding round of $25 million.

Founded in 2013, it offers AI-powered business intelligence and media monitoring and providing insight into digital, print and broadcast media, news, and regulatory data.

Companies can train Signal AI’s machine learning to recognise key themes, risks or opportunities that exist in their market sectors, with the aim of helping executives to make more informed decisions.

The capital will be used to further branch out into new use cases, accelerate its rapid growth in the US and cement its recent launch in the APAC market.

The latest round brings its total funding to date to $43m, and was led by Redline Capital.

Also participating were existing investors including MMC Ventures, Hearst Ventures and GMG Ventures which has, since June backed AI firms Vizual.ai and Resemble AI.

The firm has seen revenue growth of over 130 per cent in the last 12 months, and has more than doubled its number of customers, which now include Monzo, the London Stock Exchange, Twitter, and Deloitte, in the same period.

It has more than 150 employees worldwide, including data scientists and engineers, and has expanded its global footprint with offices now in London, New York and Hong Kong.

Our vision at Signal AI is to transform business decision making through augmented intelligence,” said David Benigson, CEO and Co-Founder of Signal AI.

“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. The results give them absolute clarity about what’s happening outside their organization to make the most informed decisions.

“I am thrilled to have Redline join us in this latest round and appreciate the continued belief and support of our existing investors, which will allow us to continue scaling our business and advancing our work with some of the world’s biggest companies.”

Nicolas Giuli, Partner at Redline Capital added: “In this new digital era of news and content, having an adaptive platform to help the world’s leading organizations see around the corner is invaluable.”