TL;DR:
- Signal AI completes Series D funding round, securing $50 million, led by Highland Europe.
- Total funding reaches $100 million with participation from existing investors Redline Capital, MMC, Hearst, and GMG Ventures.
- Signal AI’s decision augmentation solution utilizes various data sources to provide context and knowledge for decision-makers.
- Clients include a G7 Government, Deloitte, a leading FMCG company, and a FAANG company.
- The new funding will support the expansion and enhancement of Signal AI’s decision augmentation platform.
- A recent report suggests that technology-driven decision-making could contribute over $4.26 trillion to the US economy annually.
- Decision Augmentation is projected to account for 44% of global AI-derived business value by 2030, according to Gartner.
- Notable additions to the Signal AI board and executive team, including Archie Norman and Sarah Wood.
Main AI News:
In a remarkable development, Signal AI, the global decision augmentation company, has successfully concluded its Series D funding round, securing an impressive $50 million. The funding round was spearheaded by Highland Europe, and this injection of capital has elevated Signal AI’s total funding to a substantial $100 million. Notable participants in this round include existing investors such as Redline Capital, MMC, Hearst, and GMG Ventures.
Signal AI’s pioneering decision augmentation solution is a game-changer in the business world. Leveraging a comprehensive array of data sources, including news, broadcast, blogs, and regulatory information, the company has devised a platform that delves deep into decision-makers’ contexts and extracts invaluable knowledge from these diverse sources.
This revolutionary technology is delivered through a user-friendly SaaS interface, real-time alerts, interactive dashboards, and a robust API suite, empowering decision-makers across various industries to make well-informed and confident choices. It’s no surprise that Signal AI’s insights currently serve over 40% of Fortune 500 companies.
Among the esteemed clientele benefiting from Signal AI’s services are a G7 Government, utilizing the platform to gain insights into vaccine hesitancy drivers; Deloitte, which relies on Signal AI for monitoring policy and regulation trends to better advise clients; one of the world’s largest FMCG companies, using the technology to track perceptions and risks associated with thousands of ingredients; and a prominent FAANG company, employing Signal AI to measure trust, perception, and emerging reputational risks.
The infusion of $50 million in fresh funding will further fortify Signal AI’s innovative decision augmentation solution. A recent report published by Signal AI, featuring input from more than 1000 C-suite executives at major US corporations, highlights that a staggering 85% of business leaders believe that technology-driven decision-making can potentially contribute over $4.26 trillion in additional revenue to the US economy annually.
David Benigson, CEO and founder of Signal AI, expressed his excitement, stating, “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, scale our AIQ platform, expand our international presence, and advance the utilization of our decision augmentation solution with some of the world’s most prominent companies.“
According to Gartner’s predictions, Decision Augmentation is set to surpass all other types of AI initiatives by 2030, accounting for a remarkable 44% of the global AI-derived business value. As the responsibilities of business leaders grow and the number of key stakeholders continues to increase, Signal AI’s innovative solution is poised to be a crucial asset in ensuring informed and confident decision-making.
“Signal AI is a standout category-defining business,” remarked Tony Zappalà, Partner at Highland Europe. “We are excited to be part of 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 immense.”
In addition to its funding success, Signal AI has recently welcomed prominent figures to its board and executive team. Archie Norman, the chairman of Marks and Spencer and former chairman of an FTSE 100 company and member of the UK parliament, now chairs the Signal AI Board. Furthermore, Sarah Wood, co-founder of Unruly, the global video advertising marketplace acquired by News Corp in 2015, has joined as a Non-Executive Director. The company has also made significant executive appointments, including Stephen Lucas as Chief Operations Officer, boasting an impressive pedigree from Planday (acquired by Xero), Micromuse (acquired by IBM), Grass Valley, Receipt Bank, C9 (acquired by InsideSales.com), and KPMG. Additionally, Clancy Childs has been appointed as Chief Product Officer, bringing extensive data and product experience from senior roles at both Dow Jones and Google.
Conclusion:
Signal AI’s substantial funding and innovative decision augmentation solution position it as a key player in the evolving landscape of AI-driven decision-making. With the growing demand for informed and confident decisions in the business world, Signal AI’s continued expansion and partnerships with industry leaders indicate a promising outlook for the market. Decision Augmentation is poised to play a pivotal role, contributing significantly to the future of AI-driven business value.
