Highlights:

  • AlphaSense, headquartered in New York, provides a market intelligence platform tailored for asset management firms, aiding them in identifying potential investment opportunities.
  • AlphaSense leverages artificial intelligence features to assist users in swiftly sifting through its platform’s vast amount of data.

AlphaSense Inc., the creator of a market intelligence platform utilized by over 4,000 enterprises and investors, recently revealed a successful funding round, securing USD 150 million.

BOND, a prominent technology investment firm, spearheaded the Series E round. Alphabet Inc.’s CapitalG venture fund, Viking Global Investors, and Goldman Sachs were key participants in this funding round. AlphaSense’s valuation has surged to USD 2.5 billion following this funding round, marking a substantial increase of USD 700 million from its previous valuation after the funding round in April.

AlphaSense, headquartered in New York, provides a market intelligence platform tailored for asset management firms, aiding them in identifying potential investment opportunities. The company facilitates access to financial data, including news articles, earnings reports, and equity research notes, using an intuitive search bar akin to Google’s interface. Through AlphaSense’s platform, asset managers can effortlessly aggregate essential data points, aiding them in evaluating and deciding on the viability of potential investment opportunities.

AlphaSense accounts for an extensive clientele, with over 75% of the globe’s largest asset management firms and an impressive enterprise installation base encompassing over 85% of the S&P 500 companies. Enterprises rely on AlphaSense for identifying investment opportunities and various tasks, including competitor tracking and analysis.

In addition to document-based data, AlphaSense’s platform provides access to an expert network. The network encompasses over one million executives and various experts who can provide detailed briefings to investors regarding the developments in a particular market of interest. For instance, a fund manager contemplating the purchase of shares in a chipmaker can connect with semiconductor industry executives who can delve into the chipmaker’s long-term growth prospects and provide valuable insights.

AlphaSense leverages artificial intelligence features to assist users in swiftly sifting through its platform’s vast data. The company states that its AI features can automatically summarize the business commentary offered by participants in the expert network. Furthermore, the software can extract critical details from earnings reports and other financial documents.

The company plans to enhance its AI capabilities following the recent funding round. In particular, AlphaSense is developing large language models to assist users in deriving insights from vast amounts of financial data. According to the company, these models will be capable of analyzing publicly available data sources such as earnings reports and a company’s internal information.

Jack Kokko, the founder and CEO of AlphaSense, said, “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.”

The software maker plans to utilize the recently secured funding in other strategic initiatives. AlphaSense is set to enrich its platform by increasing the breadth of business data, refining search capabilities, and engaging in strategic acquisitions leveraging freshly acquired funds. Previously, AlphaSense made strategic acquisitions, including expert network operator Stream and Sentieo, a software developer specializing in financial data analysis.