NEW YORK: Signal AI has raised $25 million in a Series C funding round led by Redline Capital to support its growth.
The latest round, which included existing investors MMC Ventures, GMG Ventures and Hearst Ventures, brings the company’s total funding to $43 million, according to a statement from Signal AI.
Signal AI, which is known for market intelligence and media monitoring, will use the proceeds to branch into new use cases, according to a statement. The company’s AI technology is used by executives for decision-making on issues such as reputation risk; environmental, social and governance; tax; compliance; and regulatory monitoring, the company said in a statement.
Signal AI is also planning to accelerate growth in the U.S., where it launched last year, and "cement" its presence in Asia-Pacific, where it launched this year.
Over the last year, Signal AI’s revenue has grown by more than 130% and it has more than doubled its number of customers, the company said in a statement. It has 150 employees worldwide with offices in London, New York and Hong Kong. Its clients include Deloitte, HSBC and MSLGroup.