Raj Neervannan-cofounded AlphaSense Raises $100 Million, Bullish On India

Market intelligence and search platform AlphaSense, co-founded by Indian-origin Raj Neervannan, on Wednesday said it has raised $100 million in addition to its $225 million Series D financing round at a $1.8 billion valuation through new investments led by CapitalG, Alphabet's independent growth fund.

Existing investors, including the Growth Equity business within Goldman Sachs Asset Management (Goldman Sachs) and Viking Global Investors, also participated in the round.

This investment, said the company, will fuel the continued deployment of AlphaSense's advanced AI capabilities, including generative AI that dramatically speeds up the research process for business and financial professionals.

"This investment will enable us to continue our mission of pushing the boundaries of technology and accelerating our research and development efforts in India, a valuable innovation hub," said Neervannan, Alphasense's CTO and Co-founder.

Neervannan has an MBA in finance from The Wharton School in the US, and a BE in computer science from Birla Institute of Technology and Science, Pilani.

Headquartered in New York City, AlphaSense employs over 1,000 people across offices in the US, the UK, Finland, Germany, and India.

"With the support of CapitalG and our existing investors, we are committed to further enhancing our product offerings and driving value for our global customers. This wouldn't be possible without the talent and innovation of our India employees, and I am excited to see this growth continue," he added.

AlphaSense has spent a decade building and refining its AI tech stack and amassing data to continuously train its language models, while also building its vast collection of top-tier, trustworthy business content.

"The AlphaSense platform is really powerful in how it leverages AI to transform and streamline the work of business and finance professionals globally, including investors like ourselves, as well as many happy users at companies like Google, Bank of America, and Merck," said James Luo, Partner at CapitalG.

AlphaSense enables leading corporations and financial institutions to uncover valuable insights they can't find anywhere else and make smarter decisions with confidence and speed.

"With the big leaps we are taking with AI to deliver even more precise data and insights to our customers, I am more excited than ever by our product roadmap and business momentum," said Jack Kokko, CEO and Founder of AlphaSense.

AlphaSense acquired Stream, the world's broadest library of expert interview transcripts, in 2021 and Sentieo, a financial intelligence platform, in 2022.

--IANS

na/ksk/