AlphaSense secures $100m
In an extension of its series-D funding round, market intelligence research platform AlphaSense has received an additional $100m investment from CapitalG, the independent growth fund of Google parent Alphabet.
This increases the overall investment received from the company’s series-D funding round to $335m. Existing investors include Goldman Sachs and Viking Global.
According to Jack Kokko, CEO at AlphaSense, the new funds will be deployed to develop the company’s product roadmap and AI capabilities.
The company aims to streamline information discovery by consolidating sources of content into one platform, supported by AI technology.
To this end, it aggregates more than 10,000 data sources as well as qualitative and quantitative company and industry information. In a next step, it indexes this information and overlays it with an AI-driven search interface.
Additionally, AlphaSense deploys AI and machine-learning capabilities to provide sentiment analysis and content summarisation, providing a content library on selected topics:
- Company filings, event transcripts and presentations
- Research findings such as Wall Street equity research
- News and regulatory filings
- Interview transcripts.
“The AlphaSense platform is really powerful in how it leverages AI to transform and streamline the work of business and finance professionals globally, including investors like ourselves, as well as many happy users at companies like Google, Bank of America and Merck,” commented James Luo, partner at CapitalG. “We’re excited to invest in and partner with a company that is augmenting how so many businesses make strategic decisions by enabling seamless access to high-quality, trustworthy business and market insights.”
Alongside this investment, AlphaSense has launched its new summarisation feature, Smart Summaries, a generative AI tool that should summarise earnings calls, company outlooks and SWOT perspectives, among others.
AlphaSense hopes to distinguish itself with this tool by purpose building it for financial and business information, drawing from a database of trustworthy sources and a built-in auditability feature.