Announcing a $100 Million Investment Led By CapitalG and the Launch of New Generative AI Capabilities

For AlphaSense, 2022 was a transformative year: we crossed $100mm in ARR, raised $225 million in a Series D financing round, doubled our valuation, doubled our subscriber base, and acquired two incredible companies, Stream and Sentieo. 2023 is gearing up to be even more pivotal.

Today, I’m delighted to announce a $100 million extension to our Series D financing round, led by CapitalG, Alphabet’s independent growth fund, and existing investors, including Goldman Sachs and Viking Global. 

This news was first featured by CNBC, and I’m pleased to be mentioned alongside James Luo, Partner at CapitalG. The article highlights how this funding will further fuel the investment in our product roadmap, including industry-leading AI capabilities to help our customers across the board make better, faster, and more informed decisions. 

This investment from CapitalG is particularly meaningful to me for two reasons; the first is that it’s a reflection of our strong growth and business performance, which led CapitalG as a highly selective late-stage investor to back AlphaSense, among the industry-leading companies they have invested in. 

The second is its validation of our leadership in AI-driven search capabilities for the business world. Over the past 10 years, we’ve been building and finetuning our AI tech stack towards precise and nuanced understanding of business and financial language, while building an unparalleled collection of premium business content across thousands of trustworthy sources. The foundation that we’ve built has made next generation capabilities—and generative AI in particular—uniquely powerful in our platform. 

I’m excited to announce the launch of Smart Summaries, the first of many generative AI tools we are adding to help our users get to the right data and insights even faster than before, and to fuel improved decision-making.

Introducing Smart Summaries 

Since 2011, we’ve been taking big leaps through AI and NLP technology in building a uniquely powerful platform. The advent of generative AI technology and its multitude of use cases is now enabling another layer of powerful capabilities in our platform. 

As the first of those leaps in capability, we’re now announcing Smart Summaries, a generative AI tool we are launching that significantly speeds up the research process for business and financial professionals by providing instant summarization on earnings calls, company outlooks, SWOT perspectives, and more. Our users will get an instant overview of multiple perspectives on a topic, from the company’s own disclosures to views of Wall Street analysts, interviews of industry experts, and the media. Learn more about smart summaries.

Unlike other generative AI tools that are focused on consumer users and trained on publicly available content across the web, our approach is different:

1. AI built for business & finance: through our decade-long investment in AI, we have created a language model which is purpose-built to hone in on financial and business information, capturing insights with reliability and precision – and without hallucination. 
2. Trustworthy sources: our generative AI draws on a content database filled with top-tier business and financial content. Our users can be confident that the information we provide comes from the most trustworthy and relevant sources.
3. Easy auditability: Smart Summaries provide built-in auditability so users can easily check the original content for context and validation—a critical capability for our customers who are relying on the insights that we deliver to power million-dollar decisions every day.

If you’re interested in learning more about Smart Summaries or participating in our early access beta program, sign up here. Smart Summaries will be available to all AlphaSense users in the coming weeks. 

Looking to What’s Next

Now that generative AI adds another powerful layer on top of AlphaSense’s existing AI tech stack, I have goosebumps thinking about the boundless possibilities, and the many use cases coming soon in our platform. Smart Summaries marks a key milestone in the continuation of our AI journey and the first step in our roll-out of generative AI technology. I can’t wait to see all the value this adds to our customers.

A big thank you to our customers and our team for making all of this possible. This is just the beginning and I can’t wait to share what’s next.

Read the full press release here.

If you’re excited about our mission and want to be a part of our future, consider applying to join our world-class team, currently hiring for remote roles and in offices across the U.S., Finland, and India. See our open roles on our careers page.