AlphaSense raises $180M Series C round
New-York based AlphaSense announced that it has raised $180 million in a Series C round 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, and existing investors.
The startup plans to use the freshly raised funds to make investments in product development, content expansion, customer support, and to fuel organic growth and acquisitions.
Speaking about the funding, 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 had earlier concluded a $50 million Series B in July 2019, which included leading investors like Innovation Endeavors, Jim Simons’ Euclidean Capital, Soros Fund Management, and Tribeca Venture Partners.
The company stated its technology uses AI and NLP to obtain relevant insights from a vast universe of public and private content, including more than 10,000 premium business sources. This empowers professionals to make crucial decisions with confidence and speed, thus enhancing 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.”
AlphaSense seems to have built a strong platform to empower working professionals. I’m sure the company will continue to prosper in its journey ahead. My best wishes to the team of AlphaSense.Shishir Gupta, Founder and CEO, StartupLanes
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