Israel-based data analytics company Signals Group said it raised $15 million in series B funding. The round was led by Sequoia with participation from existing investor TPY Capital.
Shmil Levy, a partner at Sequoia Capital Israel, will join the Signals board.
With this new stage of funding, Signals intends to grow their US-offices and expanding their analytics portfolio to serve a wider range of clients.
Signals delivers intelligence and insights to Fortune 500 companies to support product development strategy. This is powered by an intelligence software platform that Signals developed to transform multiple external data and unstructured data sources into tangible insights on how to grow products and brands.
“There is tremendous potential for strategic insights to be derived from external big data – yet most data science remains in the proverbial lab and is not made actionable for decision makers,” said Gil Sadeh, co-founder and CEO of Signals.
“Our goal was to harness the power of external big data to produce high-level business insights that are immediately actionable for business leaders,” Sadeh added.
Shmil Levy, partner at Sequoia Capital Israel and new Signals board member said they have long recognized a huge market opportunity to use big data insights to augment existing business intelligence tools and to improve the quality of strategic decision-making. Levy expects Signals to make this vision a reality.