Data Science Investment Counter —Funding raised by UK data science companies in 2018.
£ 5.640 Million

Mobile Network-Tracking Company OpenSignal Gets £5.6M in Series B

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OpenSignal gathers data from over 100 million people

OpenSignal— a London-based company that gauges mobile networks’ speed gathering data from 100 million smartphones—has raised a £5.6 million  ($8 million) Series B Round from Octopus Ventures, according to TechCrunch. 

The round was also backed by  Qualcomm Ventures, O’Reilly AlphaTech Ventures, and Passion Capital. The company had previously raised about £4 million between 2012 and 2014.

Founded in 2010, the company has raised to prominence thanks to its service showing mobile network performance in several countries ; its app has been downloaded more than 3 million times. More recently ,according to the report, OpenSignal has started to include its technology in tens of third-party apps in order to extend its reach— and thus access more data from users.

Even telephone companies and regulators, in more than 20 countries, reportedly rely on OpenSignal’s services to track speed for various types of mobile network — such as 2G, 3G and 4G.

The company—which has offices in London, California, Mexico and Singapore— is now looking to use the fresh injection of cash to grow its team and products.

“Our goal is to get brought in as a global standard for network experience or connectivity,” company CEO and cofounder Brendan Gill said. “We now have a lot of data and we see this round as helping us build out more analytics on top of the data. We are building a team to take that data and interpret it. Real world experience metrics matter.”

Gill also commented, against the backdrop of the outrage over the Facebook-Cambridge Analytica imbroglio, that the company has always “taken a strong stance on privacy”, anonymising their data and not sharing it with any third party organisation.

Image via bit.ly/2HVmwnW

 

 

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