(iexclusivenews) – AlphaSense, a leading artificial intelligence (AI) platform for business intelligence and search, has raised $150 million in a Series E funding round. The round was led by Bond, a growth-stage technology investment firm, and joined by CapitalG, the independent growth fund of Alphabet, the parent company of Google.
Other investors in the round include Goldman Sachs, Viking Global, and existing backers such as Microsoft.
How AlphaSense Became a $2.5 Billion Company
The Series E funding round brings AlphaSense’s valuation to $2.5 billion, a significant increase from its previous valuation of $1.7 billion in June 2023, when it raised $225 million in a Series D round. The company has raised a total of $475 million to date.
AlphaSense’s rapid growth is driven by the increasing demand for AI-powered solutions that can help businesses access and analyze large amounts of data and information.
AlphaSense’s platform leverages natural language processing (NLP), machine learning (ML), and computer vision (CV) to provide users with relevant and timely insights from various sources, such as financial reports, earnings transcripts, news articles, research reports, and more.
AlphaSense’s platform also allows users to customize their search queries, filter results by various criteria, and create alerts and notifications for important updates.
Users can also integrate AlphaSense’s platform with other tools and applications, such as Microsoft Office, Slack, Salesforce, and Zoom.
How AlphaSense Differentiates Itself From Other AI Platforms
While there are many AI platforms that offer general-purpose solutions for various domains and audiences, AlphaSense focuses on providing specialized solutions for business and finance professionals.
AlphaSense’s platform is designed to understand the specific needs and challenges of its target users, such as analysts, investors, executives, and consultants.
AlphaSense’s platform also distinguishes itself from other AI platforms by combining data from both public and private sources.
This gives users a comprehensive and holistic view of the market and industry trends, as well as the performance and strategies of their competitors and peers.
Additionally, AlphaSense’s platform uses generative AI models to create concise and informative summaries of complex and lengthy documents.
These summaries can help users save time and effort in reading and digesting large amounts of information.
Moreover, AlphaSense’s platform can generate visual aids such as charts, graphs, and tables to enhance the presentation and communication of the insights.
How AlphaSense Can Benefit the Crypto and Blockchain Industry
The crypto and blockchain industry is one of the most dynamic and fast-changing sectors in the world.
It requires constant monitoring and analysis of various factors that can affect the price movements and adoption of cryptocurrencies and blockchain technologies.
These factors include regulatory developments, technological innovations, market sentiment, social media trends, and more.
However, the crypto and blockchain industry also faces many challenges in accessing and processing reliable and relevant information.
Many sources of information are scattered across different platforms, websites, forums, blogs, podcasts, newsletters, etc. Some sources may also be biased, inaccurate, or misleading.
This is where AlphaSense’s platform can provide a valuable service for crypto and blockchain enthusiasts. By using AlphaSense’s platform, users can easily find and filter the most relevant and trustworthy information from various sources.
They can also get insights into the latest trends and developments in the crypto and blockchain industry.
Furthermore, they can use AlphaSense’s platform to compare and contrast different cryptocurrencies and blockchain projects based on various metrics and indicators.
What AlphaSense Plans to Do With the New Funding
According to Jack Kokko, the CEO and founder of AlphaSense, the new funding will enable the company to continue its innovation and expansion in the AI market. He said in a press release:
“The additional capital allows us to invest strategically, so we can continue to lead the generative AI revolution in our market, and deliver on our mission of helping businesses find the right data and insights to support more confident and agile decision-making. We are building the future of market intelligence, and we are proud to continue revolutionizing search for enterprise customers.”
Some of the areas that AlphaSense plans to invest in include:
– Developing new features and functionalities for its platform
– Enhancing its generative AI capabilities
– Expanding its data coverage and sources
– Growing its global customer base
– Hiring more talent across various functions
What you should know
AlphaSense is a leading AI platform that provides business intelligence and search solutions for business and finance professionals. The company has raised $150 million in a Series E funding round led by Bond and joined by CapitalG, Goldman Sachs, Viking Global, Microsoft, among others. The company’s valuation has reached $2.5 billion.
AlphaSense’s platform uses advanced AI technologies such as NLP, ML, CV to provide users with relevant insights from various sources of data. The platform also uses generative AI models to create summaries and visual aids for complex documents.
AlphaSense’s platform can benefit the crypto and blockchain industry by providing reliable and timely information and insights on the market and industry trends, as well as the performance and strategies of different cryptocurrencies and blockchain projects.
AlphaSense plans to use the new funding to further innovate and expand its platform, data coverage, customer base, and team. The company aims to build the future of market intelligence and revolutionize search for enterprise customers.”
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