AlphaSense raises $225 million in funding; valuation jumps to $1.7 billion

The company said this new funding round also includes a debt investment from funds and/or accounts managed by BlackRock earlier this year.

AlphaSense’s platform leverages a 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, trade journals, and equity research. The company said having this on-demand access to key data points and insights enables professionals with more informed decision making.

The financing values the company at $1.7 billion, which is nearly double the valuation of its $180 million Series C funding in September 2021 which was also led by Goldman Sachs and Viking Global.

The capital infusion will be used to further invest in product development, content expansion, and customer support, as well as to promote organic growth and strategic transactions, according to Raj Neervannan, AlphaSense’s chief technology officer and cofounder.

The company recently purchased Stream by Mosaic, a supplier of a prominent repository of expert interview transcripts, in October 2021, as well as Sentieo, a financial information platform geared for investors, which closed last month.

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“The fresh funding will help us improve our value offering, furthering our mission to help companies across industries make better decisions faster and with greater confidence,” Neervannan said.

He went on to say that with this round of funding, AlphaSense plans to expand across all of its offices worldwide, including its India-based 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, and, with our hiring efforts underway to recruit the best talent, we expect our employee count to continue to grow substantially in the coming months,” Neervannan said.

Headquartered in New York City, AlphaSense employs over 1,000 people across offices in the US, UK, Finland, Germany, and India.

“Achieving high organic growth and strong business fundamentals while exceeding $100 million in ARR is a substantial accomplishment and demonstrates the team’s focus on building an enduring business in a large market,” Holger Staude, a Managing Director within the Growth Equity business at Goldman Sachs said in a statement.