In 2011, AI search engine AlphaSense officially launched its business with the goal to use market intelligence to help empower companies to make smarter decisions.
A decade later, AlphaSense has announced it has raised $180 million in Series C funding from a crew of high-profile investors led by Viking Global Investors and including Goldman Sachs, Morgan Stanley, Citi, Bank of America, Barclays, Wells Fargo, Cowen Inc., and AllianceBernstein. With the new funding, the AI search engine aims to continue to develop its product and expand its organic growth.
“Every company’s destiny is the cumulative sum of the decisions it makes,” said Jack Kokko, CEO of AlphaSense.
“Our platform, with search technology combined with exclusive content, helps companies across all industries make better decisions more confidently and quickly. We are excited that the world’s top investment banks are joining this round along with preeminent pre-IPO growth investors like Viking Global and GS Growth. This kind of strategic investment is unique and further validates our mission.”
Over 1,800 industry-leading business organizations trust AlphaSense to power their decision making with AI technology. By taking advantage of AI and NLP to gather data and metrics, the search engine enables informed decisions that lead to more efficient performance.
AlphaSense is currently used by 75 percent of the S&P 100 and several leading companies in the pharmaceutical, technology, industrial, and energy sectors.
The new funding comes on the heels of $50 million in Series B funding, which the company announced in July of 2019.
Product development and expansion will be the primary investment of the funding, with the company targeting new content offerings, event capabilities, and research ability. The company also sets its sights on global expansion, growing its teams customer service teams in North America and Europe, and its product engineering teams in India, Finland, and the United States.
“AlphaSense provides relevant market intelligence to many of the world’s leading companies, helping them to make impactful decisions more effectively,” said Holger Staude, a Managing Director at Goldman Sachs.
“Just like search engines have become large businesses on the consumer side, we believe AlphaSense has an opportunity to help the business world extract key insights from the vast volumes of unstructured business information.”