The current round comes less than a year after the company raised $15 million, and will finance global expansion.
Israel data analytics startup Signals Group has raised $10 million. The round was led by late-stage venture fund Qumra Capital, which joins existing investors in the company Sequoia Capital and TPY Capital.
The current round comes less than a year after the company’s Series B round in which it raised $15 million. The company says that new funding will be used to further accelerate Signals Group’s rapid global expansion and plans to recruit employees to its offices in Netanya, Geneva and New York. Signals Group currently employs more than 100 people.
Signals Group was founded in 2009 by its CEO Gil Sadeh and Kobi Gershoni, Chief Research Officer and General Manager US. Sadeh and Gershoni built Signals Group’s platform based on military intelligence methods to analyze external data, connect faint signals, and provide valuable insights for new product development and other commercial purposes. Signals’ data analytics is powered by Signals Playbook, an intelligence software platform developed to quickly transform multiple external data and unstructured data sources covering consumers, markets, and technologies into tangible, constantly updated insights on how to grow products and brands.
Signals Group works with over 50 Fortune 5,000 companies, including Procter & Gamble, PepsiCo, Johnson & Johnson and Nestlé. The company, which was named a Gartner 2016 Cool Vendor in R&D for Manufacturers, operates in the life sciences, food and beverage, and consumer goods industries, is expected to expand into the automotive, finance and cosmetics industries in 2017.
“We are very excited about the opportunity to continue Signals’ growth and share our vision with a new partner,” Sadeh said, “In the world of decision-making our technology challenges the traditional consulting approach. Executives and decision-makers need a new source for commercial insights to keep pace with innovation, one that grants access to a more diverse set of data in real-time and shows tangible value compared to the large investment required of many big data projects.”
Qumra Capital managing partner Boaz Dinte said, “We believe that Signals is leading the way to disrupt the large $30-billion-dollar management consulting industry led by incumbent giants. We are pleased to be partnering with Signals to lead a revolution in a field that has not advanced for many years.”
Published by Globes [online], Israel business news – www.globes-online.com – on June 1, 2016
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