AlphaSense's Valuation Soars to $2.5B After Successful $150M Funding Round
Summary:
AlphaSense, a B2B AI firm, has raised $150 million in a Series E investment round led by BOND, with participation from CapitalG, Goldman Sachs, and Viking Global. This funding boosted the company's valuation to $2.5 billion, up from $1.7 billion. The company, specializing in business intelligence and search, credits its success to the AI sector's recent boom. Unlike broad AI models, AlphaSense merges strategic data from public and private sources to offer in-depth insights. The funds will be used to maintain its industry lead and continue revolutionizing enterprise search.
AlphaSense, a business-to-business (B2B) artificial intelligence (AI) firm that focuses on business intelligence and search, has recently reported a successful $150 million Series E investment round. The funding was spearheaded by BOND, with participation from CapitalG (an investment arm of Google's parent company, Alphabet), Goldman Sachs, and Viking Global. This funding round has increased the company's worth from $1.7 billion, which it was valued at during its Series D round in June 2023 where it raised $225 million, to a new valuation of $2.5 billion.
The AI industry's recent boom has significantly contributed to AlphaSense's robust market presence and sustained growth. Unlike AI models like ChatGPT from OpenAI or Anthropic’s Bard, which face consumers and cater to wide-ranging audiences, AlphaSense's models integrate key data from both public and private analysis with a machine learning pipeline. This enhances AlphaSense’s ability to offer profound business and financial insights through its "insights-as-a-service" platform, generating usable intelligence.
Regarding cryptocurrency and blockchain, platforms like AlphaSense hold the potential to surpass the oftentimes questionable insights offered by broad AI models such as ChatGPT. Unlike ChatGPT which has a predisposition for delusion, AlphaSense's models interpret particular datasets associated with business intelligence and essentially craft insights into easy-to-understand articles with accompanying text and visuals.
In reference to the newest funding round, Jack Kokko, AlphaSense CEO and founder, said this additional capital enables the company to remain an industry leader in the B2B generative AI space. According to Kokko, the fresh investment will strategically position AlphaSense to continue pioneering in the generative AI field, further enabling businesses to source the most relevant data and insights for well-informed, nimble decision-making. Kokko affirms that AlphaSense is paving the way for the future of market intelligence and remains committed to advancing enterprise search.
Published At
9/28/2023 6:30:00 PM
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