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Signal Media, an AI-powered news monitoring platform, has raised a £5.8m Series A round.

The round, which drew support from MMC Ventures, Hearst Ventures, Frontline Ventures, Reed Elsevier Ventures and LocalGlobe, brings the firm’s total investment to £8.25m.

Signal Media uses AI to turn the volumes of worldwide news into accessible knowledge for businesses, claiming to analyse over 2 million articles each day across 90 countries.

The AI startup plans to use the new funding to develop its technology further, hire more developer talent and expand into the US in 2017.

Also enabling Signal Media to take the business into new industry verticals, the investment will be used to apply the tracking technology to areas such as tax and regulation, risk and compliance and business development.

David Benigson, CEO of Signal Media, commented: “High volumes of poor quality information is making it impossible for leaders to understand what is really happening in their world.

“Our revolutionary technology helps businesses track change and make smarter, faster decisions with certainty and clarity. This funding will fuel our global growth and drive product development,” he added.

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