(Reuters) – Market intelligence platform AlphaSense has secured $150 million in a new funding round, increasing its valuation to $2.5 billion. This highlights the high demand for artificial intelligence (AI) startups. The series E financing round was led by BOND, a technology investment firm, and included participation from existing investors such as CapitalG (a subsidiary of Alphabet), Viking Global Investors, and Goldman Sachs. Big Tech companies like Amazon and Microsoft are investing billions in AI startups as they reshape the industry.
When asked about the possibility of an initial public offering, AlphaSense CEO Jack Kokko stated that the company currently has “plenty of capital more than we could hope for.” The company is also focusing on investing in new initiatives, specifically in generative AI, as well as expanding its product offerings.
AlphaSense helps its customers extract relevant information from various sources, including equity research, earnings calls, company filings, and news. The company aims to provide scalable artificial intelligence tools that enable users to discover insights from data.
BOND General Partner Mary Meeker commented on the investment, stating that artificial intelligence tools that aid in data insight discovery are rapidly scaling. AlphaSense plans to use the funds to expand its collection of searchable business content and make strategic acquisitions that enhance its platform capabilities. The company attributed BOND’s investment to its strong revenue growth.
In April, AlphaSense raised $100 million in a funding round backed by CapitalG, valuing the firm at $1.8 billion. AlphaSense CEO Kokko mentioned that the company currently has abundant capital and does not have an immediate need for an IPO. Nevertheless, the company plans to further explore investment opportunities and expand its reach in the AI industry.
AlphaSense CEO Kokko expressed excitement about the future of AI and the company’s role in it. With this new funding, AlphaSense aims to continue innovating and providing valuable AI-driven solutions to its customers.
(Reuters) – Market intelligence platform AlphaSense has raised $150 million in a fresh round of funding that boosted its valuation to $2.5 billion, underscoring strong demand for artificial intelligence (AI) startups.
The series E financing round was led by technology investment firm BOND and joined by existing investors including Alphabet’s CapitalG, Viking Global Investors, and Goldman Sachs, AlphaSense said on Thursday.
Big Tech companies including Amazon and Microsoft have been pouring billions into securing ties with AI startups that are reshaping their industry.
When asked if AlphaSense has any plans for an initial public offering, CEO Jack Kokko told Reuters the company has “plenty of capital more than we could hope for” right now.
Investing in new initiatives, especially in generative AI, is a focus too as the company explores expanding its product offering, Kokko said in an interview.
AlphaSense helps its customers extract relevant information from a trove of public and private content such as equity research, earnings calls, company filings and news.
“Artificial intelligence tools that help you discover insights from data are scaling rapidly,” said Mary Meeker, General Partner at BOND.
The fundraise will also be used to grow the firm’s extensive collection of searchable business content and make strategic acquisitions that expand its platform capabilities, the company said.
BOND’s investment reflects AlphaSense’s strong revenue growth, the market intelligence company added in its statement.
In April, AlphaSense raised $100 million in a funding round backed by Alphabet’s venture capital arm CapitalG, valuing the firm at $1.8 billion.
(Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Devika Syamnath)
Credit: The Star : Tech Feed
