AlphaSense – a leading market intelligence and search platform – recently announced its $150 million Series E financing round, led by BOND and joined by existing investors, including Alphabet’s CapitalG, Viking Global Investors, and Goldman Sachs. The funding round brings AlphaSense’s valuation to $2.5 billion.
The $150 million funding round comes just months after a $100 million Series D investment led by Alphabet’s CapitalG. This new funding round will be used for expanding AlphaSense’s enterprise solution, deploying its market-leading AI search capabilities, purpose-built market intelligence and financial LLMs, and GenAI capabilities — all within customers’ private clouds. And this expanded product offering empowers professionals to monitor and extract critical insights from internal and external content through secure, accurate, and best-in-class AI-powered search, summarization, and chat capabilities. BAM Elevate – the dedicated private investment team at Balyasny Asset Management, L.P. (BAM) – was a client of AlphaSense since 2015 and is a new investor in this round.
BOND’s investment reflects AlphaSense’s strong revenue growth and the rapid adoption of its innovative AI and search capabilities by over 4,000 enterprise customers, including the majority of the S&P 500, the world’s largest banks, investment firms, and consultancies, and leading companies spanning every sector of the economy. For more than a decade, AlphaSense has been transforming the research process for business and financial professionals with the latest AI and NLP technology innovations, amassing data to continuously train its language models while building its vast collection of top-tier, trustworthy business content.
The funding round will also be used to grow its extensive collection of searchable business content and make strategic acquisitions that expand its platform capabilities and increase the value it delivers to customers. And since its April 2023 announcement of a $100 million Series D addition led by CapitalG, AlphaSense won several industry awards, including being named a Market and Competitive Intelligence leader by Forrester, a top 50 AI company by Forbes, and a Best Workplace in 2023 by Inc.
KEY QUOTES:
“At BOND, we look for iconic technology companies that are shaping the future. With the ability to deliver the right insights and data to help businesses confidently make the everyday, strategic decisions that ultimately define their future, AlphaSense immediately struck us as a category creator emerging into one of those iconic companies that significantly advances how the business world works.”
- Jay Simons, General Partner at BOND
“I couldn’t be more excited about BOND’s investment in AlphaSense. The additional capital allows us to invest strategically, so we can continue to lead the generative AI revolution in our market, and deliver on our mission of helping businesses find the right data and insights to support more confident and agile decision-making. We are building the future of market intelligence, and we are proud to continue revolutionizing search for enterprise customers.”
- Jack Kokko, CEO and Founder of AlphaSense
“Today, we have over 150 investment professionals leveraging the AlphaSense platform to get insights and data points more rapidly and reliably. From our perspective, AlphaSense’s AI and search technology has been incredibly powerful at surfacing the right information to help enhance our investment process at BAM – which is also why we invested in this latest round. We wholeheartedly believe in AlphaSense’s growth and distinctive position in the industry and want to be an even greater part of its journey.”
- Norman Chen, Partner at BAM Elevate
