Signal, a London, UK-based market intelligence and information discovery platform, raised $1.8m in seed funding.
The round was led by Frontline Ventures with participation from Samos Investments, Reed Ventures, Jon Moulton, Jonathan Goodwin, Andrew Jennings, Andy Phillipps, Darren Shapland, Turi Munthe, Rahul Powar, and Robin Klein of Index Ventures. In conjunction with the funding, Frontline Ventures’ William McQuillan joined Signal’s board.
The company intends to use the funds to grow its team of data scientists, and further develop the platform ahead of a global launch.
Led by CEO David Benigson, Signal processes and analyzes text from millions of online sources including news sites, blogs, social media and research to enable any individual or business to access, analyse and monitor real-time information. The technology was developed in partnership with academics in text analytics, natural language processing and machine learning.
In addition to the funding news, the company also added Former Global Head of Product Management at Bloomberg Russel Levi to drive product, sales and content strategies, and CTO Wesley Hall, and Head of Research Dr Miguel Martinez.