Market intelligence and search platform, AlphaSense raised $ 180 million in a Series C funding round led by Viking Global Investors and the Growth Equity business within Goldman Sachs Asset Management. Then joined by Morgan Stanley, Citi, Bank of America, Barclays, Wells Fargo Strategic Capital, Cowen Inc., and AllianceBernstein, as well as existing investors.

The Series C funding follows AlphaSense's recent growth of Wall Street Insights (WSI), which brings together a collection of research and proprietary technology under one platform and distributes content from the world's best analyst teams.

The funds will be to invest in product development, content expansion and customer support to drive organic growth as well as to attract more acquisitions.

Additionally, these funds are said to be used to invest in product development and expand content offerings such as company filings, event transcripts, news, trade journals, regulatory content, equity research, and more to provide users around the world with ever more relevant and accurate search results. AlphaSense plans to continue to invest in global and foreign-language content as it expands worldwide, as well as expand its customer service teams in North America and Europe, as well as its engineering teams in Finland, India, and New York.

It plans to execute these objectives including the funds that it had raised which is about $ 50 million in a Series B funding round a few months ago. At the time there were the presence of Innovation Endeavors, Jim Simons’ Euclidean Capital, Soros Fund Management and Tribeca Venture Partners who had participated in the round.

On to the technical side of AlphaSense, the firm leverages AI and NLP ploughing key insights from both public and private content, including some from over 10,000 business sources. This way professionals can confidently make critical decisions with speed, in turn improving business performance and outcomes.

Strong acceptance in the corporate market, as well as continued penetration throughout financial services, has fueled AlphaSense's recent growth. The majority of S&P 500 companies, over 75 percent of the S&P 100, 70 percent of top asset management firms, 76 percent of top consultancies, all of the top 20 pharmaceutical companies, and leading companies in a variety of industries, including energy, industrials, consumer goods, and technology, are now among the company's customers.

The platform appeals to knowledge workers across a wide range of disciplines, including strategy, competitive intelligence, investor relations, corporate development, and financial analysis, as well as investment analysts and portfolio managers, and user adoption per client has increased roughly 20x.

“AlphaSense delivers relevant market understanding to many of the world's leading firms, enabling them to make more successful decisions", guarantees Holger Staude, Managing Director, Growth Equity unit, Goldman Sachs.
“We believe AlphaSense has the potential to assist the corporate sector extract crucial insights from massive volumes of unstructured business information, similar to how search engines have grown into large enterprises on the consumer side”.

“AlphaSense has emerged as the market intelligence platform and business search engine of choice for major businesses such as 3M, SAP, and Siemens. We are rapidly developing our India business with investment from the world's biggest financial institutions. We plan to double the size of our innovation hubs in Pune and Mumbai over the next two years, which will help us scale our platform's research and development”, says Raj Neervannan, co-founder and chief technology officer, AlphaSense.