OpenSignal has successfully raised $8 million in Series B funding, with the investment led by Octopus Ventures.
This strategic funding round aims to propel the company’s growth by expanding its teams and enhancing its product offerings.
Founded in 2010, OpenSignal has pioneered the use of smartphone sensors to measure mobile network speeds globally. With more than 100 million devices contributing data, the company offers detailed analytics on network performance across over 200 countries.
This extensive data collection enables OpenSignal to provide services to telecom companies in over 20 countries, helping them assess average network speed and reliability across various technologies such as 2G, 3G, and 4G.
The Series B funding of $8 million marks another significant step in OpenSignal’s growth journey, backed by previous investments from Passion Capital, Qualcomm Ventures, and O’Reilly AlphaTech Ventures.
The company’s previous $4 million Series A funding round, reported to value the company at $15.5 million post-money, set a strong foundation for its continued expansion.
OpenSignal is headquartered in London but maintains a global footprint with offices in California, Mexico, and Singapore.
This international presence underscores the company’s commitment to providing comprehensive mobile network analytics worldwide.
OpenSignal’s ability to operate in these regions demonstrates its adaptability and ambition to lead in the global mobile analytics market.
OpenSignal has always maintained a strong stance on user privacy, ensuring that user identities remain anonymous, and no data is shared with third parties or tracking agencies.
“We don’t know who our users are, and we don’t share anything with third parties,” said CEO and co-founder Brendan Gill.
This commitment to privacy is a significant asset in gaining user trust and ensuring regulatory compliance.
By harnessing billions of data points, OpenSignal exemplifies the power of big data in transforming industries.
The company’s analytics enable telecom companies and regulators to make data-driven decisions to improve network quality and user experience.
As data generation continues to accelerate, OpenSignal’s role in the mobile industry becomes increasingly vital.
Looking ahead, the recent funding will enable OpenSignal to expand its analytics capabilities, providing even more detailed insights into mobile network performance.
The focus remains on enhancing product offerings to meet the growing demand for robust mobile network analysis tools.
This strategic direction aligns with OpenSignal’s vision to be at the forefront of mobile network intelligence.
The $8 million injection marks a pivotal moment in OpenSignal’s evolution, providing the capital needed to scale its operations globally.
As OpenSignal leverages this new funding, its enhanced capabilities and steadfast commitment to privacy will solidify its position as a leader in mobile network analytics.
Looking forward, the company is well-positioned to drive innovation and provide invaluable insights to the telecom industry.