AlphaSense said on Wednesday it closed a $350 million financing round at a $7.5 billion valuation, nearly twice the valuation recorded in its previous round. The financing was led by Vitruvian Partners, Accenture Ventures and J.P. Morgan Asset Management, and included new investors such as D. E. Shaw Ventures and Pinegrove Opportunity Partners.
Founded in 2011, AlphaSense operates an AI-powered market intelligence platform that helps corporate and financial users analyze companies, industries and markets. The service aggregates and searches material drawn from research reports, regulatory filings, earnings call transcripts and news, among other sources.
The company said the fresh capital will support international expansion initiatives and the scaling of its global customer support infrastructure. AlphaSense reported that it surpassed $600 million in annual recurring revenue in the first quarter and noted it has now raised more than $1 billion in total funding to date.
AlphaSense's customer roster spans major technology, pharmaceutical and financial firms, with clients that include Adobe, Amazon.com, Microsoft, Nvidia, Pfizer and JPMorgan Chase.
The rise in valuation - up from about $4 billion in its 2024 funding round - and the size of the new investment reflect strong investor demand for companies tied to artificial intelligence. The company and its backers framed the round in the context of broader corporate adoption of AI tools to boost productivity, automate workflows and process large volumes of data.
Management has pointed to international expansion and enhanced customer support as primary uses for the funds, signaling a focus on growing the firm’s footprint outside its New York base and improving service capacity for a global client base.
While AlphaSense reported substantial recurring revenue growth up to the first quarter, the company did not provide additional operational or timeline details tied to its expansion or support-scaling plans in the announcement.