Skip to content

Mobile network tracker OpenSignal gains $8m to expand team

OpenSignal, a mobile network measuring service, has secured $8m (£5.6m) in funding to expand its team and products.

The Series B funding was provided by Octopus Ventures, as reported in TechCrunch.

The London-based startup was also backed by Qualcomm Ventures, O’Reilly AlphaTech Ventures and Passion Capital.

OpenSignal was founded in 2010 to crowdsource data on network speeds and coverage across the world. It does so by tapping sensors from a network of smartphones from 100 million people.

Since its launch, the mobile app has been downloaded over 3 million times and billions of data points have been collected in over 200 countries.

On privacy, CEO and co-founder Bredan Gill told TechCrunch: “We now have a lot of data and we see this round as helping us build out more analytics on top of the data.

“The good thing for us is that we’ve taken a strong stance on privacy. We don’t know who our users are, and we don’t share anything with third parties or tracking organizations,” he added.

OpenSignal  raised around $5.3m at a $15.46m post-money valuation, according to PitchBook

Telephone companies in more than 20 countries reportedly use OpenSignal’s services to track real world average speed and reliability across all network types such as 2G, 3G, and 4G. This includes regulators, financial and industry analysts.

Whilst its HQ is based in London, OpenSignal also has offices in California, Mexico and Singapore.

Check out our UK tech investment tracker for the latest industry deals.