Published Date : Jun 28, 2018
Artificial Intelligence (AI) is one of the top technology trends making waves sweeping across diverse industry verticals, fueled increasingly by the growing number of use cases. One of the application areas gathering steam is reputation management platform for online as well as print media contents. Startups in developed nations such as the U.K. and the U.S. are leveraging on the potential of funding through several rounds to tap into promising avenues. Signal Media, a reputation management platform based out of London, has recently announced in June 2018 that it has closed a funding round worth $16 million with an aim to fuel AI-powered approaches for media monitoring and insights generation.
The funding round was led by GMG Ventures LLP, an early stage independent venture capital fund with the major share of investment coming from MMC Ventures. Of note, the Series A funding round was announced in 2016. Other notable investors are LocalGlobe, Reed Elsevier Ventures, Hearts Ventures, and Frontline.
Focus on providing Reputation Management to PR and Communications Industries
Signal Media uses its platform largely to provide reputation management and decision support to companies and provide real-time insights, with the key focus being public relations (PR) and communications industries. Its platform drills down millions of sources—online, radio, TV, print, and regulatory—to generate alerts for news and conversation and churn out customized information.
Funds to be committed toward expanding AI-based Tools for Clients
The startup will use the fresh fund injection to build on various AI tools for reputation management platforms. Specifically, the funds will be used to broaden its push to cover risk management and business development for financial and legal services.
Using the AI for online media such as websites and social networks seems to be a natural application, but leveraging its potential for print media and broadcaster is a different game altogether. Signal Media pulls this up by using the traditional technology of OCR scanning followed by machine learning technology. This helps it generate pertinent insights from a vast volumes of data collected globally.
The current funding round will give the company the scale to expand its reach to the U.S., with B2B market intelligence becoming its core approach.