AlphaSense, a New York-based market intelligence and search platform, has just raised $150 million in Series E funding. The investment round was led by BOND, and joined by existing investors, including Alphabet’s CapitalG (that backed Whatnot and Lummo), Viking Global Investors, and Goldman Sachs. With this round, AlphaSense’s valuation accounts for $2.5 billion, which is higher than its valuation in 2022 post its $225 million Series D funding.
The new capital will be used to expand AlphaSense’s enterprise solution, deploying its AI search capabilities, purpose-built market intelligence and financial LLMs, and GenAI capabilities within customers’ private clouds.
The funds 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.
“At BOND, we look for iconic technology companies that are shaping the future,” said Jay Simons, General Partner at BOND. “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.”
“I couldn’t be more excited about BOND’s investment in AlphaSense,” said Jack Kokko, CEO and Founder of 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 revolutionising search for enterprise customers.”
Norman Chen, Partner at BAM Elevate, commented, “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.”
AI-powered market intelligence
AlphaSense was founded Jack Kokko & Raj Neervannan in 2011 in New York. leveraging proprietary search technology powered by AI and NLP (Natural Language Processing) to help professionals make smarter business decisions by delivering insights drawn from an extensive universe of public and private content including news, event transcripts, company filings, expert call transcripts, trade journals, and equity research.
While consumer-centric generative AI models such as OpenAI’s ChatGPT and Bard are designed to serve general purpose audiences, AlphaSense’s models combine strategic data points from both public and private analytics with a machine learning pipeline. This allows AlphaSense’s platform to offer deep insights into business and finance analytics and provide actionable intelligence. This way, professionals can better make critical decisions with confidence and speed, and improves business performance and outcomes.
Currently, AlphaSense employs over 1,000 people across offices in the US, the UK, Finland, Germany, and India.