Signal AI Raises $50m in Funding to Build Out Decision Augmentation Solution
- Series D led by Highland Europe, with abrdn also in the round
- One of the UK’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
LONDON / NEW YORK – 15 December, 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, MMC, Hearst and Guardian Media Group Ventures.
Signal AI, one of the UK’s fastest growing artificial intelligence companies, 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 co-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 Aberdeen Standard Investments 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.”
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 a suite of APIs 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 through its strategic partnership with Deloitte.