The Platform does not:
An Interest Signal indicates only that a registered Investor has expressed a desire to learn more about a company. It carries no commitment to invest, no obligation to engage further, and does not constitute a binding expression of interest in any securities transaction.
All fees charged by Noise & Signal are fixed payments for defined platform, technology, and information services, regardless of whether any transaction is completed.
Users are solely responsible for compliance with all applicable securities laws, regulations, and requirements in their respective jurisdictions. Founders are responsible for ensuring that any fundraising activities conducted using the Platform comply with applicable securities laws. Investors are responsible for conducting their own independent due diligence on any company they choose to engage with.
To use the Platform, you must:
You may not create an account on behalf of another person without their explicit authorisation. Corporate accounts must be created by a duly authorised representative of the organisation.
We reserve the right to refuse registration, suspend, or terminate any account at our sole discretion, including for failure to meet eligibility requirements or violation of these Terms.
Founders are solely responsible for the accuracy, completeness, and currency of all information submitted to the Platform, including company descriptions, financial metrics, team information, and uploaded documents. You represent and warrant that all information you provide is accurate and does not omit any material fact.
You must not post information that is misleading, fraudulent, or that you do not have the right to share. Submitting materially false or misleading information may constitute securities fraud under applicable law.
By uploading documents to the Platform, you acknowledge that such documents constitute data submitted to the Platform and are subject to the data ownership provisions in Section 10. Noise & Signal will store, display, and transmit your documents to investors to whom you grant data room access. Your subscription gives you control over which investors access your documents during the term of your subscription.
There are no free tiers on Noise & Signal. Founder accounts are available on one paid tier: Raise ($990/year, billed as a single annual payment). Investor accounts are available on two paid tiers: Fund Pro ($2,400/year) and Fund Syndicate ($4,800/year). All tiers are billed annually as a single upfront payment. Features are described on the pricing page and may be updated from time to time with reasonable notice.
By registering as an Investor, you represent and warrant that:
Investors may register an investment mandate specifying their stage, sector, geography, and check size preferences. Mandate information is used to match Investors with relevant companies. Mandate information may be visible to Founders on paid tiers in blurred or summarised form.
An Interest Signal is a non-binding, platform-native expression of interest. Sending an Interest Signal does not create any contractual obligation, commitment to invest, or obligation to engage in further discussions. Founders on paid tiers will see your name, firm, and title when you signal interest.
The Platform uses an AI-powered vetting engine to analyse company profiles and generate a vetting score (0–100) across seven dimensions: Team & Founders, Market Size & Dynamics, Traction & Validation, Business Model, Competitive Position, Product & Technology, and Raise & Capital Efficiency.
Noise & Signal does not warrant the accuracy, completeness, or reliability of any AI Vetting Score or related report. The score is recalculated when a Founder updates their profile. Historical scores are retained for transparency.
By submitting a company profile for vetting, Founders consent to their profile data being processed by Anthropic's Claude API for the purpose of generating the vetting analysis.
The data room feature allows Founders to share confidential documents with Investors. Access to a Founder's data room requires the execution of the Platform's standard Mutual Non-Disclosure Agreement by both the Founder and the Investor.
The NDA is executed electronically by typed signature. By typing your full legal name and clicking to execute the NDA, you agree that your typed name constitutes a legally binding electronic signature under applicable law, including Panama's Ley 43 de 2001, the US ESIGN Act, and the EU eIDAS Regulation.
The Platform's NDA is a standardised agreement and is non-negotiable on the Platform. Users requiring bespoke confidentiality terms must negotiate those offline. The Platform is not a party to any NDA executed between users.
Documents shared through the data room are subject to the confidentiality obligations of the executed NDA. Breach of NDA obligations is a matter between the contracting parties. Noise & Signal is not responsible for enforcing NDA obligations but will cooperate with legal process as required by law.
The Term Sheet Inbox allows Investors to submit proposed investment terms to Founders through the Platform. The Platform may provide AI-assisted analysis of submitted term sheets for the Founder's convenience.
Term sheet submissions, AI analysis, and Founder responses are facilitation tools only. No binding agreement is created through the Platform's term sheet process. Any binding investment agreement must be separately negotiated, documented, and executed by the parties.
Noise & Signal makes no representation as to the legal sufficiency, enforceability, or completeness of any term sheet submitted through the Platform. All parties are strongly advised to engage qualified legal counsel before executing any investment agreement.
The founding cohort is limited to the first 100 founders and first 100 investors. Founding cohort members receive full platform access for 90 days at no charge. A valid credit card and a LinkedIn profile are required at registration. The card is verified but not charged during the free period. Reminder emails are sent on day 76 (15 days before billing) and day 86 (5 days before billing). On day 91, the card is charged at 50% of the applicable rate for the remaining 9 months of year 1, as a single payment. From year 2, standard annual pricing applies. If the member cancels before day 91, no charge is made. Cancellation after day 91 takes effect at the end of the paid period with no refund.
Paid subscriptions are billed annually as a single upfront payment via PayPal. By subscribing, you authorise Noise & Signal to charge your PayPal account for the full annual amount at the start of each subscription year. Founding cohort members are charged on day 91 of their free access period unless they cancel before that date.
You may cancel your subscription at any time from your account settings. Cancellation takes effect at the end of the current annual subscription period. No refunds are issued for the current subscription year or any unused portion thereof.
We may change annual subscription prices with 60 days' notice before the renewal date. Continued use after the effective date of a price change constitutes acceptance of the new price.
The Signal (free) and Fund Access (free) tiers are available indefinitely at no charge. We reserve the right to modify or discontinue free tiers with 60 days' notice to affected users.
Subscription fees are exclusive of any applicable taxes. You are responsible for all taxes applicable to your use of the Platform under the laws of your jurisdiction.
The Platform, including its design, code, AI models, vetting methodology, ranking algorithms, and all content created by Noise & Signal, is owned by or licensed to Noise & Signal, Inc. and is protected by applicable intellectual property laws.
You may not copy, reproduce, distribute, modify, reverse engineer, or create derivative works from any part of the Platform without our prior written consent.
By submitting any data, information, or content to the Platform — including company profiles, financial metrics, team information, traction data, documents, pitch decks, cap tables, and any other materials — you irrevocably assign to Noise & Signal all rights, title, and interest in and to that data and any derivative works thereof.
Noise & Signal owns all company data submitted to the Platform and may use it for any lawful commercial purpose, including:
Your subscription fee is payment for access to the Platform's services — it does not constitute payment for, or establish any reversionary interest in, the data you submit. You represent and warrant that you have full authority to submit the data and that it does not infringe any third-party rights.
Noise & Signal will not publicly identify a specific company by name in commercial data products without that company's prior consent, except where the company is the subject of a completed transaction that is otherwise a matter of public record. Aggregated and anonymised data may be used without restriction.
The Noise & Signal name, logo, and brand marks are trademarks of Noise & Signal, Inc.. You may not use our trademarks without prior written permission.
Noise & Signal operates a proprietary database of vetted private companies. In addition to the Platform's fundraising services, Noise & Signal derives commercial value from this database through the following products and services, which form part of its business model:
Noise & Signal publishes an annual market intelligence report covering venture funding trends, sector activity, geographic distribution, and company formation data across LatAm and global markets. This report draws on aggregated and anonymised data submitted to the Platform. The report is made available to subscribers, investors, LPs, media, and institutional buyers at commercial rates determined by Noise & Signal.
Noise & Signal makes company profile data available to registered M&A mandate holders — including strategic acquirers, private equity firms, investment banks, and corporate development teams — for the purpose of identifying acquisition targets, screening deal flow, and matching companies against active acquisition mandates. This service is available via the Platform interface and via API access.
Noise & Signal provides programmatic API access to its private company database to authorised institutional users on commercial terms, including per-query and annual licence arrangements. API users may access company profiles, vetting scores, financial metrics, and other data points for the purposes of deal sourcing, research, and business intelligence. API access terms are governed by separate API licence agreements.
Company data submitted to the Platform is retained by Noise & Signal indefinitely, including after the expiry or cancellation of a company's subscription. A company that cancels its subscription will no longer have access to Platform features but its data will remain in the Noise & Signal database and may continue to be used for the commercial purposes described in this section and in Section 10. If you do not wish your data to be retained, you must contact us at [email protected] to request deletion, subject to our right to retain data that is necessary for legal compliance, dispute resolution, or ongoing commercial obligations.
You agree not to:
Violations may result in immediate account termination and may be reported to relevant authorities.
The Platform is provided "as is" and "as available" without warranties of any kind, express or implied, including warranties of merchantability, fitness for a particular purpose, or non-infringement.
Noise & Signal does not warrant that:
Use of the Platform and any reliance on information obtained through it is entirely at your own risk.
To the maximum extent permitted by applicable law, Noise & Signal and Noise & Signal, Inc. shall not be liable for any indirect, incidental, special, consequential, or punitive damages, including loss of profits, loss of data, loss of business opportunity, or damage to reputation, arising from your use of or inability to use the Platform.
Our total aggregate liability to you for any claim arising from your use of the Platform shall not exceed the total subscription fees paid by you in the twelve months preceding the claim.
Nothing in these Terms limits liability for fraud, gross negligence, or wilful misconduct, or for death or personal injury caused by our negligence, to the extent such limitation is not permitted by applicable law.
You agree to indemnify, defend, and hold harmless Noise & Signal, Noise & Signal, Inc., and their officers, directors, employees, and agents from and against any claims, damages, losses, costs, and expenses (including reasonable legal fees) arising from:
You may close your account at any time from your account settings. Upon closure, your profile will be removed from the investor feed within 30 days. Documents in your data room will be deleted subject to applicable legal retention requirements.
We may suspend or terminate your account immediately, with or without notice, if:
Upon termination, your right to access the Platform ceases immediately. Provisions of these Terms that by their nature should survive termination — including Sections 10, 12, 13, 14, and 16 — shall survive.
These Terms are governed by and construed in accordance with the laws of the Republic of Panama, without regard to its conflict of law principles.
Any dispute arising out of or in connection with these Terms or your use of the Platform shall first be subject to good-faith negotiation between the parties. If not resolved within 30 days, the dispute shall be submitted to binding arbitration administered by the Centro de Conciliación y Arbitraje de Panamá (CECAP) in accordance with its rules. The arbitration shall be conducted in Panama City, Panama, in the Spanish or English language.
Nothing in this clause prevents either party from seeking urgent injunctive or other equitable relief from a court of competent jurisdiction where necessary to prevent irreparable harm.
For questions about these Terms of Service: