MMC et al. in £5.8m round for Signal Media

The venture arms of corporate players Hearst and Reed Elsevier also took part in the round.

The fresh capital will enable the business to invest in international expansion – with a particular focus on the US market – and make appointments to its senior management team. Signal Media recently hired Brandon Mensinga, formerly vice-president at Swiftkey, as chief operating officer.

The news aggregation business primarily focuses on the financial services, legal and professional services sectors. The fresh funding will also enable it to expand its services into the healthcare, pharmaceutical and technology sectors, in addition to broadening its remit beyond news text analysis to include the monitoring of changes in tax regulation, risk and compliance.

The latest round of funding brings the total amount raised by Signal Media to £8.3m.

Previous funding
Frontline Ventures, Samos Investments, Reed Elsevier Ventures and a number of angel investors injected $1.85m into Signal Media in March 2015.

Company
Founded in 2013, London-headquartered Signal Media is an online news monitoring service. The business has a headcount of 50 and a client roster including Freshfields, Old Mutual Wealth and PageGroup.

People
MMC Ventures – Simon Menashy (investment director).
Hearst Ventures – Megumi Ikeda (partner).
Signal Media – David Benigson (founder, CEO).

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