Earlier this year, AlphaSense closed a Series D funding round with $100 million.
AlphaSense, an artificial intelligence (AI) company with years of experience in developing products that are used by the majority of S&P 500 companies, has announced the closure of a Series E funding round with $150 million secured at a total valuation of about $2.5 billion. According to the announcement, AlphaSense’s series E funding round was led by Bond, a global technology investment firm, with notable participation from Alphabet Inc (NASDAQ: GOOGL) backed CapitalG, Viking Global Investors, and Goldman Sachs Group Inc (NYSE: GS).
AlphaSense is further cementing its footprint in the artificial intelligence industry as it channels the latest funding to improve on its generative AI for its enterprise customers. Moreover, the expanded AI products from AlphaSense help professional customers to monitor and extract essential insights from its internal and external content through a secure AI-powers database.
“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,” Jay Simons, General Partner at BOND, noted.
The successful closure of series E funding came a few months after the series D funding round was completed with about $100 million led by Alphabet’s CapitalG. The company has spent the past decade enriching its AI capabilities including amassing crucial data used to train language models.
AlphaSense and AI Market Outlook
AlphaSense has tapped into the capabilities of artificial intelligence to attract 75 percent of the top asset management firms, 80 percent of the top consultancies, and 20 percent of the largest pharmaceutical companies. Furthermore, the company provides its customers with valuable insights in seconds thus enabling a seamless workflow without any blind spot.
The company’s ability to generate more revenue and its future growth prospects has attracted more investors in the recent past. For instance, BAM Elevate, a dedicated private investment team at Balyasny Asset Management, has been one of the loyal customers since 2015 and participated in the series E funding round.
Today, we are incredibly proud to announce a $150M Series E funding round led by the iconic @bondcap, bringing our valuation to $2.5 billion.
— AlphaSense (@AlphaSenseInc) September 28, 2023
Currently, AlphaSense’s AI products are used by about 4,000 enterprise customers with more expected to join after the company acquired more valuable searchable data. According to the company’s Chief Executive Officer and founder Jack Kokko, the recent funding round will help AlphaSense remain competitive with other AI-powered search platforms like FactSet, and Bloomberg.