In a groundbreaking development, AlphaSense, an AI-powered market intelligence company, has successfully raised a substantial $150 million in a Series E funding round.
This funding round, led by Bond and joined by CapitalG, Viking Global Investors, Goldman Sachs, and newcomer BAM Elevate, propels AlphaSense’s valuation to an impressive $2.5 billion.
Market intelligence, which involves gathering crucial information about various industries, trends, and businesses, has emerged as a pivotal industry, projected to reach nearly $84 billion in revenue this year.
In this dynamic landscape, AlphaSense has distinguished itself by offering a unique platform that combines data crawling and insights extraction.
AlphaSense’s platform is a treasure trove of information, covering a vast array of sources, both public and private.
This encompasses content from research firms, government bodies, competitors, and other businesses.
The company’s particular focus on financial insights has been fortified through strategic acquisitions, including Stream, which specializes in transcribing and cataloging earnings calls, and Sentieo, a financial intelligence platform catering to investment managers.
Jack Kokko, the founder and CEO of AlphaSense, explained their distinctive approach, saying, “We focus on the search for unstructured information, and we provide structure to it.” Unlike web search engines that thrive on billions of searches, AlphaSense had to create its own machine learning and natural language processing technology to navigate private information effectively.
AlphaSense continues to lead the charge in redefining market intelligence, this latest funding round positions them as a formidable force in shaping the future of business decision-making.