AlphaSense Raises $150 Million in Series E Funding, Valuation Reaches $2.5 Billion

2023-09-28 20:53

Binance NewsFollowThis article has been republished with permission from Binance News.

According to Cointelegraph, AlphaSense, a B2B artificial intelligence (AI) platform specializing in business intelligence and search, has successfully completed a $150 million Series E funding round. The round was led by BOND and included participation from Alphabet's investment arm, CapitalG, as well as Goldman Sachs and Viking Global. The company's valuation has grown from $1.7 billion to $2.5 billion since its Series D round in June 2023, when it raised $225 million.

AlphaSense's market position and growth can be attributed to the recent boom in the AI sector. Unlike consumer-facing generative AI models such as OpenAI's ChatGPT and Anthropic's Bard, which serve general purpose audiences, AlphaSense's models combine strategic data points from both public and private analytics with a machine learning pipeline. This enables the platform to offer deep insights into business and finance analytics, providing actionable intelligence.

In the crypto and blockchain world, platforms like AlphaSense have the potential to offer more reliable insights than generalized AI models such as ChatGPT. While the latter is prone to hallucination, AlphaSense's models parse specific datasets relevant to business intelligence and curate insights into easily digestible articles complete with text and images. AlphaSense CEO and founder Jack Kokko stated that the latest investment round would enable the company to remain at the forefront of the B2B generative AI sector, invest strategically, and continue revolutionizing search for enterprise customers.