Signals Group, a data analytics company that delivers intelligence and insights to Fortune 5,000 companies to support product development and growth, raised $10 million in a new funding round from Qumra Capital, an Israeli late-stage venture fund focused on investments in technology companies' rapid growth. Qumra Capital joins existing Signals Group investors, Sequoia Capital and TPY Capital, who led a $15-million Series B round less than a year ago. The new funding will be used to further accelerate Signals Group's rapid global expansion and plans to recruit employees in the United States, Europeand Israel.
Signals Group was founded in 2009 by Gil Sadeh, CEO, 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[1], 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. Signals Group has offices inNew York, Geneva and Netanya, Israel, and employs more than 100 people. Following the current funding, the company plans to expand its sales and marketing teams around the world.
"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."
Boaz Dinte, Managing Partner at Qumra Capital who will join Signals' Board of Directors says: "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."
Qumra Capital
Qumra Capital is a growth fund that focuses on investments in relatively mature companies with revenues of about $10-20 million. Qumra was founded by Erez Shachar and Boaz Dinte, who were joined by partner Sivan Shamri Dahan.
Signals Group
Signals Group is a data analytics company that delivers intelligence and insights to Fortune 5,000 companies to support product development and growth. Signals has the ability to support corporate decision-making by turning external 'big data' into actionable insights for strategic commercial decisions. This is powered by an intelligence software platform that Signals 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 has been called in Forbes "the app store for innovation," is a 2016 Gartner Cool Vendor, a Deloitte Fast 50 Technology company, and is proudly venture-backed by Qumra Capital, Sequoia Capital, and TPY Capital.
