Signal AI Raises $50m in Funding to Build Out Decision Augmentation Solution
David Benigson, Founder & CEO Signal AI and Dr Miguel Martinez, Co-founder and Chief Data Scientist Signal AI
- Series D led by Highland Europe, with abrdn also in the round
- One of the world’s fastest growing AI companies will use funds to further build out state of the art decision augmentation solution
- Total funding now at $100 million
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LONDON / NEW YORK – December 15, 2021 – Signal AI, a leading global decision augmentation company, transforming how business leaders make decisions, today announced the successful completion of its Series D funding round of $50 million led by Highland Europe, bringing its total funding to date to $100M. Other investors in this round include abrdn existing investors include Redline Capital , MMC, Hearst and GMG Ventures.
Signal AI’s decision augmentation solution uses the world’s news, broadcast, blog and regulatory data to understand a decision maker’s context and extract knowledge from these diverse sources. Signal AI then delivers relevant knowledge through a SaaS interface, real-time alerts, interactive dashboards and an API suite to help decision makers across a range of industries make informed and confident decisions. Signal AI’s insights are currently delivered to over 40% of the Fortune 500.
Clients include a G7 Government who uses Signal AI to understand drivers for vaccine hesitancy, Deloitte who use Signal AI to monitor changing policy and regulation trends to better advise clients, one of the world's largest FMCG who uses the technology to track the perception and risks in thousands of ingredients, and one of the FAANG who uses Signal AI to measure trust, perception and emerging reputational risk.
Signal AI will use this new funding to further build out their innovative decision augmentation solution. A recent report released by Signal AI, with input from over 1000 C-suite executives at large US corporations, showed that 85% of business leaders believe that technology for decision making can bring in upwards of $4.26 trillion in additional revenue to the U.S. economy a year.
David Benigson, CEO and founder of Signal AI, said: “Our vision at Signal AI is to transform business decision making through augmented intelligence. We are thrilled to have Highland Europe and abrdn join us in this latest round and appreciate the continued belief and support of our existing investors. The investment will allow us to continue to attract the best in class ML and AI product engineering talent, to scale our AIQ platform, grow our international hubs and advance the use of our decision augmentation solution with some of the world’s biggest companies.”
Gartner predicts that by 2030, Decision Augmentation will surpass all other types of AI initiatives to account for 44% of the global AI-derived business value. As the responsibilities of business leaders continue to increase, and the number of key stakeholders continues to grow, business leaders need all the help they can get to make informed and confident decisions.
“Signal AI is a stand out category defining business” said Tony Zappalà, Partner at Highland Europe. “We are excited to be involved with the next chapter of the company’s innovative growth. David and the leadership team have a clear vision for the decision augmentation category they are helping to define and as Gartner’s research has shown, the opportunity is huge.”
The company has recently brought on notable business talent appointing Archie Norman who is the only person to have been chairman of an FTSE 100 company and member of UK parliament at the same time and is currently chairman of Marks and Spencer to chairman of the Signal AI Board, and Sarah Wood, co founder of Unruly the global video advertising marketplace acquired by News Corp in 2015 as an NED. The company has also made significant executive hires in Stephen Lucas to Chief Operations Officer whose pedigree stems from Planday (acquired by Xero), Micromuse (acquired by IBM), Grass Valley, Receipt Bank, C9 (acquired by InsideSales.com) & KPMG, and Clancy Childs to Chief Product Officer who brings a wealth of leading data and product experience to Signal AI from his senior roles at both Dow Jones and Google.
About Signal AI
Signal AI is a leading global decision augmentation company, turning the world’s data into knowledge and empowering business leaders across a range of industries to make informed and confident decisions. 40% of the Fortune 500 including Deloitte, Bank of America and Google use the Signal AI decision augmentation solution for real-time market and media intelligence to uncover trends, risks and opportunities and support critical decision-making. Signal AI’s brain, named AIQ, comes to understand a decision maker’s context, monitors the world’s data and extracts knowledge from over 5 million news, blog, broadcast and regulatory documents each day and can surface the relationships between companies, people, products and topics as well as other concepts. Trained over time, Signal AI helps businesses and the people who work within them make more informed and confident decisions. https://www.signal-ai.com/
At abrdn, we enable our clients to plan, save and invest for their futures. We structure our business into three areas – and together they reflect our focus on enabling our clients to be better investors: Investments: We work with clients to create solutions across asset classes, regions and markets globally – combining multi-layered research and market insights with technology and diverse thinking. Adviser: We offer market-leading platform technology and tools that enable UK wealth managers and financial advisers to create more opportunity for their business and their clients. Personal: We help people throughout the UK plan for their financial futures – through our financial planning business and our digital investing services. Across our investments, adviser and personal businesses we manage and administer £532 billion of assets for our clients, and abrdn plc has over 1 million shareholders. (Figures as at 30 June 2021). Our investments are built on an insight strength that comes from multi-layered research and a large global footprint. Our teams collaborate across multiple capabilities, to create forward-thinking solutions that aim to meet our clients’ needs and deliver more sustainable outcomes. Our investments business manages £456.6 billion on behalf of individuals, governments, pension funds, insurers, companies, charities and foundations (as at 30 June 2021) – with support and expertise from 800 investment specialists in over 30 locations. abrdn is the single global brand for all areas of our business. In July 2021 our plc listing became abrdn plc. In September our investments business, formerly Aberdeen Standard Investments, became abrdn. abrdn.com
About Highland Europe
Highland Europe invests in exceptional growth-stage software and internet companies. Active in Europe since 2003 as Highland Capital Partners and formally launched in 2012, Highland Europe has raised over €1.8 billion and has invested in companies such as ActiveFence, Adjust, AMCS, Camunda, ContentSquare, Featurespace, GetYourGuide, Huel, Jellysmack, Malwarebytes, MatchesFashion, NewVoiceMedia, Nexthink, Plentific, Spot, Supermetrics, WeTransfer, Wolt and Zwift. Highland’s collective history of investments across the US, Europe and China includes 50 IPOs and 40 billion-dollar-plus companies.
Georgie Weedon, Head of Communications, Signal AI