Signal Media, a reputation management platform that uses artificial intelligence (AI) to scour myriad news and data sources to derive insights, has closed a $16 million round of funding led by GMG Ventures, which was recently launched by the parent company of the U.K.’s Guardian newspaper. Other investors include MMC Ventures, Frontline, Hearts Ventures, Reed Elsevier Ventures, and LocalGlobe.
Founded out of London in 2013, Signal Media applies machine learning to nearly 3 million information sources — including social media, print media, television, and radio — and serves up alerts to those who want to follow news, online conversations, and other tidbits relevant to them. The company is positioning itself as a competitor to industry heavyweights such as Cision, WPP’s Kantar, and Isentia.
Though the platform could serve a number of use cases, its purpose for now is as a “reputation management and decision support” tool, according to a statement issued by the company, and its current focus lies squarely in the PR and communications industries.
Signal Media’s raison d’etre is tackling information overload, allowing decision makers to keep tabs on all the things they need to know, with any insights made available in more than 100 languages globally.
Monitoring websites and social networks is one thing, but how exactly does Signal Media track print publications and broadcasters? Well, that’s where good old-fashioned optical character recognition (OCR) and machine learning come into play.
“We acquire the print from providers globally, and we extract the text through OCR scanning,…