MMC and Hearst Ventures lead £5.8m funding round into Signal Media
MMC recently participated in a Series A funding round for AI startup, Signal Media, alongside Hearst Ventures, Frontline Ventures, Reed Elsevier Ventures and Local Globe. The media monitoring platform helps clients including Old Mutual Wealth and Freshfields to monitor markets and acquire actionable business insights from the world’s media. The information is sourced from over 2.7m websites, 67,000 print feeds and 300 broadcast channels, and can be auto-translated from over 40 languages.
Following 500% YoY growth through 2015-16, the business now employs more than 50 people worldwide. This new funding will be used to serve customers across new verticals, expand to the US, and strengthen the existing product. MMC investment director and deal lead Simon Menashy commented:
“Signal is one of the most promising companies in UK tech, and David and Miguel’s drive and vision has attracted some of the top AI talent in Europe. The company has grown incredibly quickly by solving real business problems using cutting-edge technology. Its impressive list of clients demonstrates the value of Signal’s product and we think the team can build the next big global information business.”