Signal AI, a global decision augmentation company, transforming how business leaders make decisions, has 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.
