A London artificial intelligence (AI) startup has today closed a $25m (£19.2m) funding round to help businesses better track their competition.
Signal AI’s series C round was led by Redline Ventures, and supported by the venture arm of publishing giant Hearst. Other investors included Gousto backer MMC Ventures, and GMG Ventures which counts the owner of the Guardian news organisation among its limited partners.
The startup uses AI to offer firms a media monitoring and market intelligence system that will help them stay on top of key news and data related to their sector.
“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,” said David Benigson, chief executive and founder of Signal AI.
“The results give them absolute clarity about what’s happening outside their organisation to make the most informed decisions.”
Having recently opened offices in New York and Hong Kong, Signal AI said it will put the capital towards finding new uses cases for its product as well as cementing its international expansion.
With clients such as Deloitte and HSBC, Signal reported revenue growth of more than 130 per cent in the last year.
“In this new digital era of news and content, having an adaptive platform to help the world’s leading organisations see around the corner is invaluable,” said Nicolas Giuli, partner at Redline Capital.
“Signal AI’s team of data scientists and engineers have been at the forefront of the AI revolution and we are excited to take this journey with them as they continue to scale across the world.”
Image credit: Signal AI