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Bloomberg competitor AlphaSense closes in on $2.5 billion valuation

Lucinda Shen
Jul 12, 2023
Illustration of multiple name tags that all say "Hello my name is AI."

Illustration: Allie Carl/Axios

Riding the AI wave, market intelligence and research firm AlphaSense is nearing a close on $150 million at a $2.5 billion valuation.

Why it matters: The recent rush to all things AI has taken a bite out of fintech funding, but Alphasense is benefitting from having a foot in each camp.

Details: The Series E deal will be announced in coming weeks, a source with knowledge of the matters tells Axios.

  • AlphaSense is considering using the funding for acquisitions, per Bloomberg, which originally reported the fundraising.

Background: A competitor to the Bloomberg terminal, AlphaSense has been using AI to sort and categorize vast amounts of data on companies, including regulatory filings and earnings calls.

  • It has since begun using generative AI to summarize such documents, collating bank analysts point of view on a stock, as one example.

Context: AlphaSense last raised at a $1.8 billion valuation, with CapitalG leading the round.

  • That was a small step up from the company's $1.7 billion valuation in June 2022, which Viking Global Investors and Goldman Sachs Asset Management led.

The big picture: Investors are focusing more time on AI, contributing to the current funding slowdown, but fintech investors also see AI bolstering the sector in the long term.

AlphaSense declined to comment.

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