AlphaSense, a market intelligence platform, earned $150 million in a new round of investment to reach $2.5 billion, demonstrating significant demand for AI firms.
AlphaSense announced on Thursday that BOND led the series E funding round, which included Alphabet’s (GOOGL.O) CapitalG, Viking Global Investors, and Goldman Sachs (GS.N).
Amazon (AMZN.O) and Microsoft (MSFT.O) have invested billions in AI firms that are changing their business.
AlphaSense CEO Jack Kokko told Reuters the business has “plenty of capital more than we could hope for” for an IPO.
Kokko noted in an interview that the firm is investing in new efforts, notably generative AI, to extend its product line.
AlphaSense helps clients find important information in equities research, earnings calls, corporate filings, and news.
“Artificial intelligence tools that help you find data insights are scaling rapidly,” said BOND General Partner Mary Meeker.
The company said it will use the funding to increase its searchable business content and make smart acquisitions to broaden its platform.
The market intelligence business said BOND’s investment shows AlphaSense’s excellent revenue growth.
AlphaSense got $100 million from Alphabet’s venture capital arm CapitalG in April, valuing it at $1.8 billion.