AlphaSense announced the attraction of investment funds in the amount of $ 100 million to develop its market analysis and B2B search platform.
Source: motionarray.com
The latest investments attraction is a continuation of the $225 million Series D funding round. Currently, the company’s value is $1.8 billion. The latest fundraising includes new investments by the independent growth fund Alphabet CapitalG. This is stated in the press release of AlphaSense, which was published last Tuesday, April 11.
AlphaSense CEO and founder Jack Cocco stated that it is a great honor for the company to work with CapitalG as part of this funding and to be recognized as a leader in artificial intelligence-based search capabilities for the business world. He also noted that the corporate value of each firm is the cumulative sum of the decisions made. Jack Kokko stated that the company’s mission is to improve the decision-making process for businesses around the world.
AlphaSense uses proprietary artificial intelligence and language models to strengthen its platform and search technology. The company’s technological solutions help professionals to obtain up-to-date information about research in the field of equity, income, statements of industry representatives, and other public and private data. A full understanding of the state of affairs in the area allows one to make decisions that are likely to bring the desired strategic result.
Thanks to the raised capital, AlphaSense will continue research and development (R & D) and the introduction of artificial intelligence capabilities, including generative AI, which accelerates the research process. The company also plans for the near future new strategic acquisitions in addition to the supplementation in 2021 of the library of transcripts of interviews with Stream experts and the financial analytics platform Sentieo last year.
CapitalG partner James Lo speaks of a positive attitude towards cooperation with the company, noting its achievement in improving the strategic decision-making process of enterprises and providing access to information about the market and business that is trustworthy.
Earlier, some other firms reported on technological solutions based on artificial intelligence, through which marketing research is improved and optimized. For example, on April 7, GoDaddy released a library of Generative AI tips for small businesses. In early March, FlashCloud Intelligence announced the launch of a feature for B2B sellers to use called Social Intent, which, as a result of machine learning (ML) capabilities, analyzes conversations on social networks and captures intentions to make purchases.
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