AlphaSense has successfully raised $311.3 million over five funding rounds, achieving a valuation of $1.7 billion. The platform leverages AI technology to provide business insights, helping professionals make smarter decisions.
Keep reading to explore the intricacies of AlphaSense's fundraising journey and the investors backing this innovative platform.
What Is AlphaSense?
AlphaSense, founded in 2011 by Jack Kokko, is a market intelligence and search platform that leverages AI technology to provide business insights. The company is headquartered in New York City and has additional locations in Boston, Chicago, Los Angeles, and several other cities.
AlphaSense's platform integrates various types of content, including company filings, broker research, expert calls, regulatory documents, and news. This helps professionals make smarter business decisions by delivering insights from an extensive universe of public and private content.
With a team of 201-500 employees, AlphaSense continues to grow, offering job opportunities in multiple locations such as Mumbai, Pune, Chicago, London, and New York City, as well as remote roles.
How Much Funding Has AlphaSense Raised?
- Series D
- Amount Raised: $225,000,000
- Date: June 2022
- Lead Investors: Goldman Sachs Asset Management, Viking Global Investors
- Valuation at Round: $1.7 billion
- Motivation Behind the Round: To address gaps in enterprise search and support the company's growth and market opportunity.
- Series C
- Amount Raised: $180,000,000
- Date: 2021
- Valuation at Round: Approximately $850 million
- Motivation Behind the Round: To support growth and expansion.
- Series B
- Amount Raised: $50,000,000
- Date: July 2019
- Lead Investors: Innovation Endeavors, Soros Fund Management
- Motivation Behind the Round: To expand the customer base and enhance the product offering.
- Unknown Round
- Amount Raised: $33,000,000
- Date: March 2016
- Motivation Behind the Round: For product development and market expansion.
- Unknown Round
- Amount Raised: $1,816,853
- Date: September 2015
- Motivation Behind the Round: For initial product development and market entry.
- Seed Round
- Amount Raised: $1,500,000
- Date: January 2013
- Motivation Behind the Round: For product development, market research, and building the initial team.
AlphaSense has raised a total of $491,316,853 and is currently valued at $1.7 billion.
Key Investors
- Goldman Sachs Asset Management
- Details: Goldman Sachs Asset Management is a leading global investment manager. The firm provides investment and advisory services to institutional and individual clients worldwide.
- Investment Focus Areas: Financial services, technology, enterprise solutions
- Notable Investments: Various high-growth companies across multiple sectors
- Viking Global Investors
- Details: Viking Global Investors is a global investment firm managing capital for institutions and individuals. The firm focuses on both public and private equity markets.
- Investment Focus Areas: Technology, healthcare, consumer sectors
- Notable Investments: Investments in high-growth companies across various sectors
- BlackRock
- Details: BlackRock is a global asset management firm. It offers a range of investment solutions and services to institutional and retail clients.
- Investment Focus Areas: Equities, fixed income, alternatives, multi-asset strategies
- Notable Investments: Technology companies, financial services, infrastructure projects
- Innovation Endeavors
- Details: Innovation Endeavors is a venture capital firm founded by Eric Schmidt, former CEO of Google. The firm invests in transformative technology companies.
- Investment Focus Areas: AI, machine learning, advanced technologies
- Notable Investments: Companies at the forefront of technological innovation
- Soros Fund Management
- Details: Soros Fund Management is a private investment management firm founded by George Soros. It manages a diverse portfolio across various sectors.
- Investment Focus Areas: Technology, healthcare, financial services
- Notable Investments: Diverse investments across multiple sectors
What's Next for AlphaSense?
AlphaSense is poised to capitalize on significant opportunities in the market intelligence sector. With plans to expand into internal company search, the company aims to help businesses better organize and access their own data. This move could open up a vast market, given the increasing demand for AI-driven solutions that structure unstructured information. The company's customer base, which includes 75% of S&P 100 companies, underscores the potential scale of this opportunity.
Future fundraising seems likely as AlphaSense continues to grow. The recent $225 million Series D round, co-led by Goldman Sachs Asset Management and Viking Global Investors, highlights investor confidence. Additional funding could support further product development and international expansion, ensuring AlphaSense remains competitive in a rapidly evolving industry.
However, challenges lie ahead. Achieving profitability while scaling operations and competing with established players like Elastic and Algolia will be crucial. Ensuring the accuracy and relevance of search results in a dynamic market environment will also be a significant hurdle. Nonetheless, AlphaSense's strong foundation and strategic vision position it well for future success.
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