Media monitoring — where news sources and other public information outlets are scanned regularly for mentions of specific organizations — is a well established service used by companies for market intelligence and to measure sentiment around their businesses.
Today, London-based Signal AI, which has built a substantial operation in the area, has raised $25 million funding to expand to newer frontiers: applying AI to that public data to also spot themes, risks and opportunities to make better decisions; and continuing to take that business to new markets.
“When we started six years ago, it was by aggregating news data and tapping the repository of global, traditional media,” Benigson said.
“We have since broadened into social media, broadcast and radio, and regulatory information and started to apply more machine learning to structure that data.” The company also, in addition to selling services directly, now partners with third parties to build analytics around more targeted subjects such as a changing regulatory climate in a specific area, which in turn sold on by the third parties to other clients.
The company, for example, works with Deloitte’s tax division to monitor how tax codes are evolving and likely to move over time: the firm used to keep its own clients up to date verbally on these details, and now it sends alerts automatically with insights — a switch that Benigson said has saved the company $100 million a year in human and overhead costs.