AlphaSense Raises $100 Million Led By Alphabet's CapitalG 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
By Teena Jose
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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. 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. 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're honoured 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," said Jack Kokko, CEO and founder of AlphaSense.
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. 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, claimed by the company in a statement.
"We are proud to support AlphaSense as it powers market intelligence and research for the business world. 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," said James Luo, partner at CapitalG.
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.
