
MMC, Frontline, LocalGlobe in £16m round for Signal Media
MMC Ventures, Frontline Ventures and LocalGlobe have taken part in a ТЃ16m series-B funding round for UK-based media monitoring software company Signal Media.
The Guardian Media Group's GMG Ventures led the round, although MMC contributed the largest amount of capital. The series-B also saw participation from the venture arms of Hearst and Reed Elsevier, while Kreos Capital provided a debt facility to support the transaction.
Signal Media will look to expand further into the US market and invest in product development following the round.
According to a statement, the business has doubled its headcount and quadrupled its turnover since its series-A funding round.
Previous funding
MMC, Frontline, LocalGlobe, Hearst and Reed took part in a £5.8m funding round for Signal Media in 2016.
Company
Founded in 2013, London-headquartered Signal Media develops software that monitors and curates media coverage related to its customers, and provides access to premium content at a fixed monthly price. It monitors 2.8 million sources across online, print, television, radio and regulatory sources, according to the statement. Its clients include Allen & Overy, Amnesty International, British Airways, E.ON, TalkTalk, Thomas Cook and Whitbread. Signal Media has a headcount of around 100.
People
GMG Ventures – Alan Hudson (founder, managing partner).
MMC Ventures – Simon Menashy (partner).
Signal Media – David Benigson (founder, CEO).
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