AlphaSense has raised $225 million in a fundraising round led by the Growth Equity business within Goldman Sachs Asset Management (Goldman Sachs) and Viking Global Investors.
The investment values the company at $1.7 billion, about double the $180 million Series C capital it received in September 2021, which was spearheaded by Goldman Sachs and Viking Global.
According to Raj Neervannan, AlphaSense’s chief technology officer and cofounder, the financial infusion will be utilised to continue investing in product development, content expansion, and customer support, as well as to support organic growth and strategic transactions.
“The fresh funding will help us improve our value offering, furthering our mission to help companies across industries make better decisions faster and with greater confidence,” Neervannan said.
“We recently doubled our India presence to over 325 people with the recent addition of our Delhi office, and, with our hiring efforts underway to recruit the best talent, we expect our employee count to continue to grow substantially in the coming months,” Neervannan said.
With this round of funding, he continued, AlphaSense wants to expand across all of its offices around the world, such as its India-based innovation hubs in Pune, Mumbai, and Delhi.
“Achieving high organic growth and strong business fundamentals while exceeding $100 million in ARR is a substantial accomplishment and demonstrates the team’s focus on building an enduring business in a large market,” Holger Staude, a Managing Director within the Growth Equity business at Goldman Sachs said in a statement.
AlphaSense is a market intelligence platform used by the world’s leading companies and financial institutions. Since 2011, their AI-based technology has helped professionals make smarter business decisions by delivering insights from an extensive universe of public and private content—including company filings, event transcripts, news, trade journals, and equity research.
Their platform is trusted by over 1,600 enterprise customers, including a majority of the S&P 100. Headquartered in New York City, AlphaSense employs over 450 people across offices in the U.S., U.K., Finland, and India.