When it comes to finding which restaurant to go to or where to shop, giant search engine platforms like Google and Yahoo have spent years helping everyday users make well-researched decisions. But, when it comes to the niche of aiding professionals in making business decisions, NYC-based AlphaSense has been a key player for over a decade.
AlphaSense’s artificial intelligence-backed technology helps professionals make business decisions by delivering insights from public and private company filings, event transcripts, expert call transcripts, news, trade journals and equity research.
On Wednesday, AlphaSense pulled in a $225 million Series D financing round co-led by the Growth Equity business within Goldman Sachs Asset Management and Viking Global Investors. This brings AlphaSense’s valuation to $1.7 billion, which is nearly double what it was valued at when it raised its $180 million Series C round in October, according to the company.
“We are thrilled by the continued support of preeminent investors like Goldman Sachs and Viking and the addition of BlackRock as we embark on the next chapter of our growth,” Jack Kokko, CEO of AlphaSense, said in a statement. “This round of funding will allow AlphaSense to invest in our growth and capitalize on opportunities to expand our content sets and improve our value offering, furthering our mission to help companies across all industries make better decisions with greater confidence and speed.”
Built In last caught up with AlphaSense after its Series C raise when it set plans to expand internationally and grow its customer service teams in North America and Europe. Additional plans involved growing its engineering teams at its NYC headquarters and offices in Finland and India.
Since then, newly minted tech unicorn AlphaSense has obtained an annual recurring revenue that exceeds $100 million and grew its customer base over 100 percent, according to a company statement. AlphaSense now has a base of 3,500 customers including Morgan Stanley, Citibank and Goldman Sachs.
With its fresh capital, AlphaSense plans to continue to invest in product development, content expansion and customer support. Additionally, the company is hiring for nearly 50 open roles on its Built In company profile.
