Latest fundraise reflects AlphaSense’s leadership in AI-driven market intelligence and B2B search, enabling more confident decision-making for thousands of enterprise customers
NEW YORK, April 11, 2023 /PRNewswire/ — 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.
This investment will fuel 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, while also building its vast collection of top-tier, trustworthy business content. This makes generative AI capabilities a powerful addition for AlphaSense’s enterprise customer base, allowing 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.
“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. 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. 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.
“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,” said Jack Kokko, CEO and Founder of AlphaSense. “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.”
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. 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.
About AlphaSense
AlphaSense is a market intelligence and search platform used by the world’s leading companies and financial institutions. Since 2011, our AI-based technology has helped professionals make smarter business decisions by delivering insights from an extensive universe of public and private content—including equity research, company filings, event transcripts, expert calls, news, trade journals, and clients’ own research content. Headquartered in New York City, AlphaSense employs over 1,000 people across offices in the U.S., U.K., Finland, Germany, and India. For more information, please visit www.alpha-sense.com.
About CapitalG
CapitalG, Alphabet’s independent growth fund, invests in remarkable companies transforming the fields of enterprise infrastructure, security, and data; fintech; and consumer services and marketplaces. CapitalG partners with growth stage companies in their transition from startup to scale up through hands-on assistance from its in-house growth team and connections to Google’s engineering, product, marketing, sales and people operations experts worldwide. More than 3000 Googlers and Alphabet leaders have engaged with CapitalG portfolio companies, including Airbnb, CrowdStrike, Databricks, Duolingo, Freshworks, Gusto, Lyft, Stripe, UiPath and Zscaler, among others. Learn more at https://capitalg.com/.
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SOURCE AlphaSense
