AlphaSense, an AI firm, raised $150M in a Series E funding round at a valuation of $2.5B.

AlphaSense, an AI firm, raised $150M in a Series E funding round at a valuation of $2.5B.

AlphaSense Secures $150 Million in Series E Funding to Boost AI Capabilities

AlphaSense, a leading artificial intelligence (AI) company, has recently announced the successful closure of its Series E funding round, raising $150 million and reaching a total valuation of approximately $2.5 billion. The funding round was led by global technology investment firm Bond, with notable participation from CapitalG (backed by Alphabet Inc), Viking Global Investors, and Goldman Sachs. This latest funding will further enhance AlphaSense’s generative AI capabilities for its enterprise customers.

With its years of experience in AI development, AlphaSense has become a key player in the industry, serving a vast array of clients including a majority of S&P 500 companies. The company’s expanded AI product suite allows professional customers to monitor and extract crucial insights from both internal and external content through a secure AI-powered database. This innovative approach enables businesses to confidently make strategic decisions, propelling them towards future success.

Jay Simons, General Partner at Bond, expressed his excitement about AlphaSense, stating, “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 advance how the business world works.”

This Series E funding round follows a successful Series D round which raised around $100 million, led by Alphabet’s CapitalG. Over the past decade, AlphaSense has continuously developed and strengthened its AI capabilities, including the collection of essential data used to train language models.

AlphaSense and the AI Market Outlook

AlphaSense’s application of artificial intelligence in its services has attracted key players in various industries. Currently, the company serves 75 percent of the top asset management firms, 80 percent of the top consultancies, and 20 percent of the largest pharmaceutical companies. This impressive list of clientele is a testament to the value AlphaSense provides, offering valuable insights in a matter of seconds, facilitating seamless workflows without blind spots.

The company’s ability to generate substantial revenue, along with its promising growth potential, has attracted significant investor interest. BAM Elevate, a private investment team at Balyasny Asset Management, has been a loyal AlphaSense customer since 2015 and also participated in the Series E funding round.

AlphaSense’s AI products are currently utilized by approximately 4,000 enterprise customers. With the recent acquisition of more valuable searchable data, the company expects to attract even more customers in the future. Jack Kokko, the CEO and founder of AlphaSense, believes that the funding round’s success will help the company maintain its competitiveness against other AI-powered search platforms such as FactSet and Bloomberg.

In conclusion, AlphaSense’s recent Series E funding round has reaffirmed its position as a major player in the AI industry. The funds raised will further enhance its generative AI capabilities, providing valuable insights and empowering businesses to make informed decisions rapidly. With a growing client base and a strong outlook, AlphaSense is well-positioned to shape the future of AI-powered search platforms while strengthening its market presence.