Big data and business intelligence platform Signals reeled in a $10 million Series B investment, the company announced Wednesday, preparing to expand its resources in Israel, Switzerland and New York
Building off years of applying the same analytics methods in Israeli intelligence to connect faint signals and index data, founders CEO Gil Sadeh and CRO Kobi Gershoni target Fortune 5,000 companies as customers.
“We are very excited about the opportunity to continue Signals’ growth and share our vision with a new partner,” says Gil Sadeh, CEO and founder of Signals Group. “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.”
Their signature product is the Signals Playbook that organizes unstructured (i.e., most text) and external data from multiple consumer and technology sources, then spits back insights and recommendations.
The round was led by Israel-based Qumra Capital with input from prevalent venture investors Sequoia Capital and TPY Capital, those two having participated in the company’s previous $15 million round last year. That means more hires and expansion to Europe.
They claim big name clientele like Procter & Gamble, PepsiCo, Johnson & Johnson and Nestlé, according to their press release. The deal brings Qumra’s Boaz Dinte to the board of directors, who also works closely with portfolio companies Pontis, Qualisystems, eASIC and Notal.
“We believe that Signals is leading the way to disrupt the large $30 billion management consulting industry led by incumbent giants,” said Dinte in a press release. “We are pleased to be partnering with Signals to lead a revolution in a field that has not advanced for many years.”
Signals was founded in 2009 and currently employs 100 people. They maintain offices in Netanya, Israel; Geneva, Switzerland and New York City.