New York-based market intelligence and search platform AlphaSense raised USD 225 million in Series D Funding. The round took place on June 17, 2022. Growth Equity business within Goldman Sachs Asset Management (Goldman Sachs) and Viking Global Investors co-led the funding for AlphaSense. The latest round includes a debt investment from funds and/or accounts managed by BlackRock earlier this year.
With the recent investment, the company’s valuation now stands at USD 1.7 billion. It has nearly doubled down on its valuation since its last investment.
Purpose of Funding for AlphaSense
The latest capital infusion will help the company further invest in product development, content expansion, and customer support. Meanwhile, AlphaSense looks forward to promoting organic growth and strategic transactions.
Besides, the market and intelligence platform have plans to expand across all of its offices globally, including its India-based innovation hubs in Pune, Mumbai, and Delhi.
Earlier in September 2021, the company raised funds in a Series C round at a valuation of USD 180 million. Goldman Sachs and Viking Global led the funding back then.
AlphaSense recently acquired Stream by Mosaic, a supplier of a prominent repository of expert interview transcripts, in October 2021. It also purchased Sentieo, a financial information platform geared for investors, which closed last month.
What the founder has to say
Raj Neervannan, chief technology officer and co-founder, AlphaSense, said, “With this financing round, we also plan to expand our innovation hubs in Pune, Mumbai and Delhi. We recently doubled our India presence to over 325 people with the recent addition of our Delhi office. With our hiring efforts underway to recruit the best talent, we expect our employee count to continue to grow substantially in the coming months. I am proud and delighted by the growth India sees and hope to strengthen it.”
“The Series D round highlights investor confidence and shows the quick pace at which AlphaSense has been growing,” he further added.
What the investor has to say
“We are excited to upsize our investment in AlphaSense. Achieving high organic growth and strong business fundamentals while exceeding USD 100 million in ARR is a substantial accomplishment and demonstrates the team’s focus on building an enduring business in a large market,” said Holger Staude, a Managing Director within the Growth Equity business at Goldman Sachs.
About AlphaSense
AlphaSense is a New York-based market intelligence and search platform. Its platform uses search technology powered by artificial intelligence (AI) and natural language processing (NLP) to extract relevant insights from public and private content, including company filings, earnings transcripts, expert call transcripts, news and trade journals as well as equity research. The platform employs over 1,000 people across US, UK, Finland, Germany, and India offices.
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