Market intelligence platform AlphaSense recently completed a successful funding round raising $150 million. This infusion of capital has propelled the company’s valuation to an impressive $2.5 billion, underscoring the robust demand for artificial intelligence (AI) startups in today’s market.
Alphasense Funding News: Raised $150 Million Valuation Hits $2.5 billion Marks
The series E financing round was spearheaded by technology investment firm BOND with participation from existing investors, including Alphabet’s CapitalG, Viking Global Investors and Goldman Sachs. Notably, major tech players like Amazon and Microsoft have been actively investing in AI startups, recognizing the transformative potential of this technology.
AlphaSense’s CEO, Jack Kokko indicated that the company is currently well-capitalized and doesn’t have immediate plans for an initial public offering. Instead, they are directing their resources towards new initiatives particularly in the realm of generative AI as they explore expanding their product offerings.
AlphaSense specializes in helping its clients extract valuable insights from a vast repository of both public and private content, such as equity research, earnings calls, company filings and news reports. This aligns with the growing trend of artificial intelligence tools that facilitate data-driven decision-making.
Furthermore, the funds raised will be used to enhance AlphaSense’s extensive collection of searchable business content and strategically acquire assets that broaden the capabilities of its platform.
BOND’s investment underscores AlphaSense’s remarkable revenue growth reinforcing its position as a prominent player in the market. In a previous funding round in April, the company raised $100 million with backing from Alphabet’s venture capital arm CapitalG which valued the firm at $1.8 billion.