Market Intelligence Centaur AlphaSense Rockets to $2.5 Billion Valuation

Artificial intelligence (AI)-based marketing intelligence and search platform AlphaSense is one of the latest startups to join the ranks of unicorns after raising nearly $150 million in Series E funding, giving the company a valuation of $2.5 billion. 

"The additional capital allows us to invest strategically, so we can continue to lead the generative AI revolution in our market and deliver on our mission of helping businesses find the right data and insights to support more confident and agile decision-making. We are building the future of market intelligence, and we are proud to continue revolutionizing search for enterprise customers," AlphaSense Founder and CEO Jack Kokko said. 

With artificial intelligence witnessing exponential growth, companies dabbling in AI-based software have been riding the wave. Despite being an up-and-coming market intelligence platform, AlphaSense serves the majority of the S&P 500 companies, the world's largest financial institutions as well as companies across every sector of the economy. 

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Unicorn Status Unlocked

The latest capital infusion comes nearly five months after its previous funding round of $100 million, valuing AlphaSense at $1.8 billion in April. 

The increasing demand for artificial intelligence platforms, coupled with AlphaSense's robust growth potential, boosted the company's valuation by more than 38% in just five months. 

"Artificial intelligence tools that help you discover insights from data are scaling rapidly," said Mary Meeker, general partner at BOND, the venture capital firm that led AlphaSense's latest funding round.

This fresh infusion of capital is earmarked for the expansion of AlphaSense's enterprise solution, enabling the deployment of its cutting-edge AI search capabilities, specialized market intelligence and financial large language models (LLMs) and generative AI (GenAI) features, all within clients' private cloud environments. This enhanced product lineup is expected to empower professionals to securely and precisely monitor and extract essential insights from both internal and external content using top-notch AI-driven search, summarization and chat functions.

"With the ability to deliver the right insights and data to help businesses confidently make 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," said Jay Simons, general partner at BOND. 

Trending: This startup has already attracted over 1,000 early investors with an impressive 200% year-over-year growth in user engagement. See how you can get involved without being an accredited investor.

Expansive Client Base 

AlphaSense's AI-powered search engine has proven valuable in assisting cancer researchers in staying updated on clinical trials and aiding consultants in generating fresh business concepts. Its clientele includes prominent institutions such as Goldman Sachs, JPMorgan Chase & Co., Wells Fargo & Co. and Bain Capital.

AlphaSense's impressive revenue expansion, cutting-edge AI and search functionalities have been embraced by over 4,000 corporate clients, including a significant portion of the S&P 500, major global banks, investment institutions, consulting firms and prominent companies across various industries. 

The company has also played a pivotal role in revolutionizing research methods for business and finance experts over the past decade, leveraging state-of-the-art AI and natural language processing (NLP) technology. The company has consistently gathered data to refine its language models and expand its extensive repository of high-quality, reliable business content.

"Today, we have over 150 investment professionals leveraging the AlphaSense platform to get insights and data points more rapidly and reliably," said Norman Chen, a partner at AlphaSense long-time customer BAM Elevate. "From our perspective, AlphaSense's AI and search technology has been incredibly powerful at surfacing the right information to help enhance our investment process at BAM — which is also why we invested in this latest round. We wholeheartedly believe in AlphaSense's growth and distinctive position in the industry and want to be an even greater part of its journey." 

Among the ranks of companies like AlphaSense, there are others making a name for themselves in the AI industry. Kliken uses GPT AI-powered marketing technology to provide small businesses with the service and outcomes of an outsourced digital marketing agency at a fraction of the cost.

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