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AlphaSense, an AI-based market intel firm, snaps up $150M at a $2.5B valuation | TechCrunch

Sep 28, 2023 - news.bensbites.co
AlphaSense, a market intelligence startup, has raised $150 million in a Series E funding round, taking its valuation to $2.5 billion. The round was led by Bond and saw participation from CapitalG, Viking Global Investors, Goldman Sachs, and new investor BAM Elevate. The company, which has over 4,000 enterprise customers including Google, Microsoft, and J.P. Morgan, uses machine learning and natural language processing technology to gather and structure unstructured information from various sources.

The company's CEO, Jack Kokko, believes that their unique approach to information gathering and structuring will help them outperform AI platforms like OpenAI’s ChatGPT. However, he acknowledges that they need to stay on top of many things to remain useful to their customers. The funds raised will be used to further develop their platform and stay ahead in the market.

Key takeaways:

  • AlphaSense, a market intelligence startup, has raised $150 million in a Series E funding round, increasing its valuation to $2.5 billion.
  • The funding round was led by Bond, with participation from CapitalG, Viking Global Investors, Goldman Sachs, and new backer BAM Elevate.
  • AlphaSense has developed a platform that gathers information from various sources and uses machine learning and natural language processing technology to structure and interpret the data.
  • The company is focusing on differentiating itself from AI platforms like OpenAI’s ChatGPT by training its own Large Language Models and delivering more accurate business insights.
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