[ad_1]
AlphaSense, a New York-based market intelligence and search platform, has raised $225 million in Series D funding round led by the Growth Equity of Goldman Sachs Asset Management (Goldman Sachs) and Viking Global Investors.
With the latest financing, the company’s valuation has nearly doubled to $1.7 billion in comparison to its previous valuation. This new funding round includes debt investment from funds and accounts managed by BlackRock earlier this year. Earlier in September 2021, it had raised $180 million in Series C funding round.
The funds will be used to further invest in product development, content expansion and customer support, and also to drive organic growth as well as strategic transactions.
With the latest funds, the company seeks to grow, ,including its innovation hubs in Pune, Mumbai, and Delhi.
Raj Neervannan, Chief Technology Officer (CTO) and Co-Founder, AlphaSense, said, “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. We expect our employee count to continue to grow substantially in the coming months. I am proud and delighted by the growth India is seeing and hope to strengthen it.”
The valuation increase is commensurate with AlphaSense’s rapid and sustained growth and follows the achievement of revenue and product milestones. Annual recurring revenue (ARR) now exceeds $100 million. In addition, AlphaSense experienced gains in other key metrics, including user and customer base, which both grew by well over 100 per cent in the past year, the company said.
AlphaSense’s AI-based technology helps professionals make business decisions by delivering insights from a universe of public and private content. AlphaSense employs over 1,000 people across offices in the US, Finland, the UK, Germany and India.
Published on
June 16, 2022
Source link
