AlphaSense, a business intelligence and search platform, has reportedly raised USD 225 million in funding that was spearheaded by Goldman Sachs Asset Management division Growth Equity and Viking Global Investors.
According to the company, a debt investment made earlier this year from accounts managed by BlackRock is also part of this current capital round. AlphaSense is now valued at USD 1.7 billion, doubling its valuation since it raised USD 180 million in Series C funding back in September from Goldman Sachs and Viking Global.
For those unaware, AlphaSense's platform uses a search technology powered by artificial intelligence and a natural language processor to extract pertinent insights from both private and public content, such as company filings, expert call transcripts, earnings transcripts, news, and equity research, and trade journals. The platform essentially allows professionals to make better decisions by having on-demand access to important data and insights.
According to Raj Neervannan, the co-founder of AlphaSense, the latest funding will be utilized for further investments in product development, customer support, content diversification, and promoting strategic transactions and organic growth.
Neervannan believes that the fresh capital will enable the firm to strengthen its value proposition and advance the goal of assisting businesses across industries in making better decisions more quickly and confidently.
However, AlphaSense intends to grow throughout all its locations worldwide with this round of funding, including its innovation hubs in Mumbai, Pune, and Delhi located in India.
It is worth mentioning here that the firm recently acquired Sentieo, an investor-focused financial information platform, along with Stream by Mosaic, a well-known provider of large expert interview transcripts, in October 2021.
AlphaSense, which has its headquarters based in New York City, also operates in the U.K., U.S., Germany, Finland, and India, and employs over 1,000 employees.