Cryptocurrency

Google and Microsoft-backed AI firm AlphaSense raises $150M at $2.5B valuation

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AlphaSense, a B2B artificial intelligence (AI) platform specializing in business intelligence and search, announced the successful completion of a $150 million Series E funding round led by BOND and joined by Google parent company Alphabet’s investment arm, CapitalG, as well as Goldman Sachs and Viking Global.

The latest round saw the company’s valuation grow from $1.7 billion, its value upon raising $225 million during its Series D in June of 2023, to $2.5 billion.

AlphaSense’s strong market position and continued growth owes to the recent boom in the AI sector. While consumer-facing generative AI models such as OpenAI’s ChatGPT and Anthropic’s Bard are designed to serve general purpose audiences, AlphaSense’s models combine strategic data points from both public and private analytics with a machine learning pipeline.

This allows AlphaSense’s “insights-as-a-service” platform to offer deep insights into business and finance analytics and provide actionable intelligence.

Related: ChatGPT can now browse the internet, no longer limited to info from 2021

In the crypto and blockchain world, platforms such as AlphaSense have the potential to go beyond the often dubious insights provided by generalized AI models such as ChatGPT. Where the latter has a penchant for hallucination, AlphaSense’s models parse specific datasets relevant to business intelligence and, essentially, curate insights into easily digestible articles complete with text and images.

Per a press release, AlphaSense CEO and founder Jack Kokko said the latest investment round would allow the company to stay at the forefront of the B2B generative AI sector:

“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.”