AlphaSense – a leading market intelligence and search platform – announced a $100 million addition to its $225 million Series D financing round. This funding round was based on a $1.8 billion valuation through new investments by CapitalG (Alphabet’s independent growth fund) and existing investors, including the Growth Equity business within Goldman Sachs Asset Management and Viking Global Investors.
The company pointed out that CapitalG’s investment reflected the rapidly growing adoption of AlphaSense and its AI and search capabilities across 4,000 enterprise customers, which now include the majority of the S&P 500, nearly all of the largest banks, investment firms, and consultancies, and many companies in wide-ranging industries such as life sciences, energy, industrials, consumer goods, and technology. Plus the company’s subscriber base has more than doubled in the past year.
AlphaSense’s platform and search technology utilizes proprietary AI and language models and helps professionals extract relevant insights from an extensive universe of public and private content, including equity research, earnings calls, company filings, news, trade journals, and expert interviews. And AlphaSense enables leading corporations and financial institutions to uncover valuable insights they can’t find anywhere else and make smarter decisions with confidence and speed.
Along with expanding value to customers through R&D, the new capital also furthers AlphaSense’s capacity to make strategic acquisitions that expand its platform capabilities and increase the value it delivers to customers. And recent examples include AlphaSense’s 2021 acquisition of Stream, the world’s broadest library of expert interview transcripts, and a 2022 acquisition of Sentieo, a financial intelligence platform.
What the funding will be used for: The funding will be used for further deployment of AlphaSense’s advanced AI capabilities, including generative AI that dramatically speeds up the research process for business and financial professionals. And AlphaSense has spent a decade building and refining its AI tech stack and amassing data to continuously train its language models while building its vast collection of top-tier and trustworthy business content. And this makes generative AI capabilities a powerful addition to AlphaSense’s enterprise customer base, enabling them to easily access summarized insights drawn from top-tier sources with built-in auditability so users can easily check the original content for context and validation.
KEY QUOTES:
“We are proud to support AlphaSense as it powers market intelligence and research for the business world. The AlphaSense platform is really powerful in how it leverages AI to transform and streamline the work of business and finance professionals globally, including investors like ourselves, as well as many happy users at companies like Google, Bank of America, and Merck. We’re excited to invest in and partner with a company that is augmenting how so many businesses make strategic decisions by enabling seamless access to high-quality, trustworthy business and market insights.”
– James Luo, Partner at CapitalG
“We’re honored to partner with CapitalG through this financing and to be recognized for our leadership in AI-driven search capabilities for the business world. Every company’s enterprise value is a cumulative sum of the decisions they make – and our mission is to improve strategic decision-making for businesses worldwide. With the big leaps we are taking with AI to deliver even more precise data and insights to our customers, I am more excited than ever by our product roadmap and business momentum. This financing and partnership will help accelerate that even further.”
– Jack Kokko, CEO and Founder of AlphaSense
