Alphasense, the leading market intelligence and search platform, today announced a $100 million addition to its $225 million Series D financing round at 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 (Goldman Sachs) and Viking Global Investors.
CapitalG’s investment reflects the rapidly growing adoption of AlphaSense and its innovative AI and search capabilities across 4,000 enterprise customers, which now include the majority of the S&P 500, nearly all of the world’s largest banks, investment firms, and consultancies, and leading companies in wide-ranging industries such as life sciences, energy, industrials, consumer goods, and technology.
The company’s subscriber base has more than doubled in the past year, reflecting the business and financial world’s heightened need for market intelligence to navigate through the current economic environment.
Key benefits investments will bring in:
- This investment will fuel the continued deployment of AlphaSense’s advanced AI capabilities, including generative AI that dramatically speeds up the research process for business and financial professionals.
- AlphaSense has spent a decade building and refining its AI tech stack and amassing data to continuously train its language models. This will make generative AI capabilities a powerful addition to AlphaSense’s enterprise customer base, allowing them to easily access summarized insights drawn from top-tier sources, with built-in audibility so users can easily check the original content for context and validation.
- In addition to 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.
“We are proud to support AlphaSense as it powers market intelligence and research for the business world,” said James Luo, Partner at CapitalG. “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.
Read our blogs: https://smeventure.com/non-banking-financial-companies-nbfcs-growing-importance-in-economic-growth-of-india/
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.
”AlphaSense’s platform and search technology leverages 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.
The company enables leading corporations and financial institutions to uncover valuable insights they can’t find anywhere else and make smarter decisions with confidence and speed.
Jack Kokko, CEO and Founder of AlphaSense said “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.”
(Image courtesy: www.techfunnel.com)