AlphaSense, the market intelligence platform, has successfully raised $100 million in Series E funding to further enhance its business content and artificial intelligence (AI) capabilities. The funding round was led by BOND, a technology investment firm, and included participation from existing investors like Alphabet’s CapitalG, Viking Global Investors, and Goldman Sachs.
The capital raised will be utilized to expand AlphaSense’s vast collection of searchable business content and pursue strategic acquisitions to enhance its platform capabilities. The company aims to offer its users even more comprehensive and relevant data by leveraging its advanced AI technologies.
CEO Jack Kokko expressed his satisfaction with the funding, stating that AlphaSense currently has more than enough capital to support its growth plans. When asked about any potential plans for an initial public offering (IPO), Kokko remained tight-lipped but assured that the company is well-funded.
AlphaSense specializes in extracting pertinent information from a wide range of public and private content, including equity research, earnings calls, company filings, and news. By harnessing the power of AI, the platform enables its users to uncover valuable insights and make informed business decisions.
Mary Meeker, General Partner at BOND, acknowledged the significance of AI tools in facilitating data analysis and insights discovery, emphasizing their rapid scalability. AlphaSense intends to invest in new initiatives, particularly in generative AI, to expand its product offerings and stay at the forefront of innovation within the industry.
According to AlphaSense, BOND’s investment reflects the company’s impressive revenue growth. In April, the platform successfully secured $100 million in funding, which was backed by Alphabet’s venture capital arm CapitalG and resulted in a valuation of $1.8 billion.
For individuals seeking to stay updated with the latest financial insights, AlphaSense announced that its Mint service is now available on WhatsApp Channels. Interested readers can subscribe through the provided link to access the exciting range of financial content.
With its ambitious expansion plans and continued focus on AI advancements, AlphaSense is solidifying its position as a leading provider of market intelligence solutions. The company’s strong financial backing and dedication to enhancing its capabilities ensure that clients will benefit from an increasingly robust and comprehensive platform.
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