[Funding alert] AlphaSense raises $180M Series C investment led by Viking Global and Goldman Sachs
New-York based market intelligence and search platform AlphaSense has raised $180 million Series C funding led by Viking Global Investors and the Growth Equity business within Goldman Sachs Asset Management (Goldman Sachs), along with by Morgan Stanley, Citi Bank, Bank of America, Barclays, Wells Fargo Strategic Capital, Cowen Inc., and AllianceBernstein, as well as existing investors.
The startup said it will use the funding to further invest in product development, content expansion, and customer support, and to drive organic growth as well as acquisitions.
Raj Neervannan, Co-founder and Chief Technology Officer, AlphaSense, said, “AlphaSense has emerged as the market intelligence platform and business search engine of choice for global brands such as 3M, SAP, and Siemens. With investment from the world’s leading financial institutions, we are aggressively working towards expanding our India operations."
"In the next two years, we intend to scale the research and development of our platform, and a huge contributor to this will be the doubling of our innovation hub in Pune and Mumbai.”
The company previously closed a $50 million Series B in July 2019, which included prominent investors such as Innovation Endeavors, Jim Simons’ Euclidean Capital, Soros Fund Management, and Tribeca Venture Partners.
The Series C funding announcement closely follows the startup's recent expansion of Wall Street Insights (WSI), which provides content from the world’s top analyst teams and brings together an exclusive collection of research and proprietary technology under one platform.
The company said its technology leverages AI and NLP to extract relevant insights from an extensive universe of public and private content, including over 10,000 premium business sources. This enables professionals to make critical decisions with confidence and speed, thus improving business performance and outcomes.
“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 within the Growth Equity business 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.”
The company’s customer base now includes the majority of S&P 500 companies, over 75 percent of the S&P 100, 70 percent of the top asset management firms, 76 percent of the top consultancies, all of the largest 20 pharmaceutical companies, and leading companies in wide-ranging industries such as energy, industrials, consumer goods, and technology.
As it expands internationally, AlphaSense will continue investing in global and foreign-language content, as well as grow its customer service teams in North America and Europe, and its engineering teams in Finland, India, and New York.