MMC lead $16 million series B funding round into Signal Media
A.I.-powered reputation management and decision support platform, Signal Media, has announced a $16 million series B funding round. The funding round was led and priced by GMG Ventures LP. MMC Ventures was the largest investor in the round, which included a debt facility from Kreos Capital. Other investors include Frontline, Hearst Ventures, Reed Elsevier Ventures and LocalGlobe.
Focusing initially on reputation management for PR and communications, Signal directly challenges large incumbent providers such as WPP’s Kantar, Cision and Isentia in a market worth over $2.2bn, expected to grow to $4.2bn by 2022. Signal is now expanding into risk management for tax and compliance, as well as business development in financial and legal services.
The $16m investment will be used to expand further into the US and accelerate Signal’s mission to uncover the ‘unknown unknowns’ facing businesses today, highlighting the risks and opportunities so leaders can take effective action.
David Benigson, founder and CEO of Signal said:
“We have a system that’s constantly evolving and getting smarter and more intuitive for our customers as they use it. Most businesses above a certain size already have a business intelligence tool that enables them to analyse their internal data in considerable depth. Our objective is to provide senior leaders with as much clarity and transparency about what’s happening outside of their organisation as they have inside it.”