Market intelligence startup, AlphaSense has successfully raised $150 million in its latest funding round, propelling its valuation to an impressive $2.5 billion.
Market intelligence startup, AlphaSense has successfully raised $150 million in its latest funding round, propelling its valuation to an impressive $2.5 billion. This accomplishment underscores the robust demand for artificial intelligence (AI) startups.
The series E funding round was spearheaded by technology investment firm BOND, with participation from existing investors such as Alphabet’s CapitalG, Viking Global Investors, and Goldman Sachs, announced AlphaSense on Thursday.
Tech behemoths like Amazon and Microsoft have been making substantial investments to forge alliances with AI startups, recognizing their transformative potential within the industry.
In response to inquiries about a potential initial public offering (IPO), CEO Jack Kokko conveyed to Reuters that the company currently boasts “more capital than we could hope for.”
AlphaSense startup is keen on channeling resources into fresh initiatives, particularly in the realm of generative AI, as part of their exploration into broadening their product portfolio, Kokko emphasized in an interview.
AlphaSense’s core mission is assisting clients in extracting pertinent insights from a vast array of both public and private content, including equity research, earnings calls, company filings, and news reports.
Mary Meeker, General Partner at BOND, commented, “Artificial intelligence tools that help you discover insights from data are scaling rapidly.”
The capital infusion will also be allocated towards augmenting the platform’s extensive repository of searchable business content and executing strategic acquisitions aimed at enhancing its platform capabilities, as per the company’s statement.
The investment by BOND is a testament to AlphaSense’s robust revenue growth, further substantiated by the market intelligence company.
In April, AlphaSense successfully raised $100 million in a funding round backed by Alphabet’s venture capital arm, CapitalG, thereby valuing the company at $1.8 billion.
This recent injection of capital is poised to fuel AlphaSense’s continued innovation and expansion, solidifying its position as a leading player in the dynamic landscape of AI-driven market intelligence.