AlphaSense Raises $100 Million for Market Intelligence and B2B Search

AlphaSense has raised another $100 million for its market intelligence and B2B search platform.

The latest fundraise joins the firm’s $225 million Series D financing round, brings its valuation to $1.8 billion and includes new investment by Alphabet’s independent growth fund, CapitalG, AlphaSense said in a Tuesday (April 11) press release.

“We’re honored to partner with CapitalG through this financing and to be recognized for our leadership in [artificial intelligence (AI)-driven] search capabilities for the business world,” AlphaSense CEO and Founder Jack Kokko said in the release. “Every company’s enterprise value is a cumulative sum of the decisions they make — and our mission is to improve strategic decision-making for businesses worldwide.”

AlphaSense uses proprietary AI and language models to bolster its platform and search technology that help professionals gain relevant insights from equity research, earnings calls, company filings, news, trade journals, expert interviews and other public and private content, according to the press release.

With the newly raised capital, AlphaSense will continue its research and development (R&D) and deployment of AI capabilities, including generative AI that speeds the research process, and eye additional strategic acquisitions — which would join its 2021 purchase of expert interview transcript library Stream and its 2022 addition of financial intelligence platform Sentieo — the release said.

“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,” CapitalG Partner James Luo said in the release.

This announcement comes on the heels of other developments in which firms deploy AI tools to streamline and improve market research.

For example, on April 7, GoDaddy released a Small Business Generative AI Prompt Library that includes prompts that small business owners can use to turn generative AI tools like OpenAI’s ChatGPT, Google’s Bard and Microsoft’s Bing AI into marketing copywriters, social media experts and growth hackers.

A month earlier, on March 3, FlashCloud Intelligence announced that it had launched a feature for use by B2B sellers called Social Intent that uses machine learning (ML) to analyze social media conversations on various platforms and identify “buying signals” related to specific products or services.