AlphaSense, Inc., a NYC-based AI-based search engine for market intelligence, secured $50m in Series B funding.
The round was led by Innovation Endeavors with participation from Soros Fund Management LLC through its private investment vehicle, and other existing investors. In conjunction with the funding, Rick Scanlon, Founding Partner at Innovation Endeavors, joined AlphaSense’s board.
The company, which has raised more than $90m in total funding, intends to use the capital to further develop its AI and natural language processing technology, accelerate product development, and drive global expansion of the platform.
Launched in 2011 by Jack Kokko, CEO, AlphaSense provides an AI-based market intelligence search engine for investment firms and corporations. The platform combines clients’ internal content with business and market information including broker research, call transcripts, company reports, news and trade journals. Seamlessly aggregating thousands of data sources, the company’s semantic search engine captures variations in human language, accurately recognizing millions of business and financial terms and their synonyms, as well as companies, industries, topics and trends.
It is used daily by more than 1,000 enterprise customers worldwide.
AlphaSense also has offices in London, Helsinki, India, and across the US.