Announcements | Portfolio Updates

AlphaSense becomes Vendep Capital’s first unicorn raising $225 Million

“AlphaSense announced 3.500 customers, $100m ARR and a $225m Series D, all big milestones for the company. This is historical for Vendep Capital too as AlphaSense becomes our first unicorn!

Sakari Pihlava, General Partner at Vendep Capital comments: “AlphaSense announced 3.500 customers, $100m ARR and a $225m Series D, all big milestones for the company. This is historical for Vendep Capital too as AlphaSense becomes our first unicorn!

Vendep Capital’s co-founder Hannu Kytölä was the first investor in AlphaSense in 2009. Since then our funds have invested in the Seed (2013), Series A (2015) and Series B (2019) financings. Now a total of $520 million has been raised and the New York headquartered company has indicated its on a path to an IPO.”

New York-based AlphaSense, the leading market intelligence and search platform, today announced its $225 million Series D financing round led by the Growth Equity business within Goldman Sachs Asset Management (Goldman Sachs) and Viking Global Investors. The financing values the company at $1.7 billion, which is nearly double the valuation from its $180 million Series C funding in September 2021 that was also led by Goldman Sachs and Viking Global. This new funding round includes a substantial debt investment from funds and/or accounts managed by BlackRock earlier this year.

 

The valuation increase is commensurate with AlphaSense’s rapid and sustained growth and follows the achievement of key revenue and product milestones; notably, annual recurring revenue (ARR) now exceeds $100 million. In addition, AlphaSense experienced significant gains in other key metrics, including user and customer base, which both grew by well over 100% in the past year. AlphaSense’s base of 3,500 customers now includes over 78% of the S&P 100, 97% of the Dow 50, 70% of the top asset management firms and banks, and leading companies in wide-ranging industries such as energy, industrials, consumer goods, and technology, with the platform appealing to knowledge workers across a wide range of roles including strategy, competitive intelligence, investor relations, corporate development, and financial analysis.

AlphaSense’s platform leverages proprietary search technology powered by AI and NLP to extract relevant insights from an extensive universe of public and private content, including company filings, earnings transcripts, expert interview transcripts, news, trade journals, and equity research. Having on-demand access to key data points and insights enables professionals to make critical decisions with confidence and speed, thus improving business performance and outcomes.

 

“We are excited to upsize our investment in AlphaSense,” said Holger Staude, a Managing Director within the Growth Equity business at Goldman Sachs. “Achieving high organic growth and strong business fundamentals while exceeding $100 million in ARR is a substantial accomplishment and demonstrates the team’s focus on building an enduring business in a large market.”

John Doyle, Director of Venture Lending at BlackRock, added, “AlphaSense’s impressive growth and high-quality customer base reflect the power of its platform to substantially improve productivity and enable smarter data-driven decisions for users across industries and roles. We are excited about our debt investment in AlphaSense at this important stage in its evolution.”

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ABOUT ALPHASENSE
AlphaSense is a market intelligence platform used by the world’s leading companies and financial institutions. Since 2011, our AI-based technology has helped professionals make smarter business decisions by delivering insights from an extensive universe of public and private content—including company filings, event transcripts, expert call transcripts, news, trade journals, and equity research. Our platform is trusted by over 3,500 enterprise customers, including a majority of the S&P 500. Headquartered in New York City, AlphaSense employs over 1,000 people across offices in the U.S., U.K., Finland, Germany, and India. For more information, please visit www.alpha-sense.com.

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