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

Signal Media Closes £5.8M Series A Round

London-based news intelligence startup Signal Media has closed a £5.8 Series A Round backed by MMC Ventures, Hearst Ventures, Frontline Ventures, Reed Elsevier Ventures and LocalGlobe— and it is now looking to boost its Artificial Intelligence capabilities.

Founded in 2013 by CEO David Benigson, Signal uses AI to monitor the world’s media and extract relevant knowledge for its customers—which are mainly comprised of businesses and professionals in Britain’s financial, legal and tertiary sectors.

The company says it processes about two million articles every day from 90 countries.

“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,” Benigson said, commenting the round.

He explained that the new funding will enable the company to invest in AI and in new talents, besides helping it establish a presence in the US by 2017. In addition, Signal plans to broaden its current coverage to include more data and information sources, as new verticals focusing on Health, Pharma and Technology are slated to launch soon.

The round brings Signal Media’s total investment to £8.25 million.

Image via bit.ly/2hzL90v

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