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AlphaSense Success Story: Market Intelligence and Search Platform

Company Profile is an initiative by ListMyStartup to publish verified information on different startups and organizations. The content in this post has been approved by AlphaSense.

The term ‘big data’ has become a buzzword in recent times. Businesses can confidently make informed decisions by leveraging the wealth of digital insights and embracing the power of business intelligence.

Improved performance, commercial growth, evolution, and a healthier bottom line depend on data-driven smart business decisions. According to Mckinsey Global Institute’s survey, data-driven organizations are 23 times more likely to get and retain customers.

But the question here is how to search through the extensive volume of data and access quick insights. It’s when AphaSense comes in handy. It is an AI-driven search engine that helps companies extract valuable insights from the enormous volume of data to make informed business decisions.

Let’s learn more about AlphaSense- its startup story, mission, founders, funding, investors, partners, plans, and more.


AlphaSense – Company Highlights

  • Company Name-AlphaSense
  • Headquarters- New York City, New York, United States
  • Sector-Search Engines
  • Founders-Jack Kokko, Raj Neervannan
  • Founded In-2011
  • Revenue-$1.7B (2022)
  • Website-Alpha-sense.com

AlphaSense - About

  • AlphaSense is a market intelligence and search platform that leverages machine learning (ML) and natural language processing (NLP) technology and is used by leading companies and financial institutions.
  • Founded in 2011, the AI-based technology enables clients to make smarter business decisions by delivering insights from the extensive volume of public and private content, including news, equity research, transcripts, and trade journals.
  • Headquartered in New York City, AlphaSense has a presence in the U.S., Germany, the U.K., India, and Finland. The company delivers services to multiple industries, including Consulting, Consumer/CPG, Energy, Financial Services, Life Sciences, Tech, Media, and Telecom, by providing access to 10,000+ premium data sources.


AlphaSense - Founders and Team

  • Jack Kokko and Raj Neervannan co-founded AlphaSense.
  • Graduated from Helsingin Kauppakorkeakoulu in B.Sc. Finance and The Wharton School in MBA, Jack Kokko is the co-founder and CEO of AlphaSense. Previously, he was co-founder and CEO of Silecs, Inc and Founding Chairman of BetterDoctor.

Raj Neervannan
  • Completed an M.S. in Computer Science from Bowling Green State University and MBA from The Wharton School, Raj Neervannan is the co-founder and CTO of AlphaSense. Moreover, he previously worked as CTO at ePolicy Solutions, ChoicePoint, Inc, and MajescoMastek.

AlphaSense - Startup Story

  • CEO and Founder, Jack Kokko, realized the inconvenience of manual research early on. He commenced his career as an investment banking analyst in Silicon Valley, and there he spent hours CTRL+Fing thousands of PDFs, a single keyword at a time to find a single insight.
  • After a few years, Jack met his co-founder and CTO, Raj Neervannan, at The Wharton School. They both were in disbelief that the research process and tools available had not advanced all these years. It’s in 2011, both Jack and Raj sought to solve this issue by launching AlphaSense- a new type of search engine driven by ML and NLP, enabling companies to cut through the noise and quickly extract insights from thousands of resources and billions of data points.


AlphaSense - Mission and Vision

  • The company aims to empower professionals to make smarter business decisions with confidence and speed.


AlphaSense - Business Model

  • With AlphaSense, companies run a search as they do on Google. But the results that come back are relevant information for their business use case. This AI-driven platform not only searches for users’ exact search terms but also for business or financial synonyms. So, users need not have to think about what words their executives use when discussing the concept they are searching for.
  • AlphaSense uses hundreds of algorithms to read every line of text and categorize information. So, it knows what organization or organizations are being discussed in a given document, what industry it’s operating in based on the language, and other factors that help users quickly narrow their search to a given industry and specific set of enterprises.

AlphaSense - Revenue Model

  • AlphaSense offers flexible subscriptions for accommodating team sizes, content needs, and more, ranging from pre-seat options to enterprise packages. ‘Pre-Seat Options’ are for small and medium-sized teams, and ‘Enterprise’ packages are for large teams and global companies.


AlphaSense - Products and Services
The solutions offered by AlphaSense are categorized into ‘Corporate’ and ‘Financial Services.’ It enables to track, monitor, and share insights related to the following:

  • Corporate - Competitive Intelligence, Investor Relations, Corporate Strategy, Corporate Development
  • Financial Services - Asset Management, Private Equity & Venture Capital, Corporate Finance & Investment Banking, Hedge Funds, Sell-Side Research

AlphaSense - Funding and Investors
  • AlphaSense has undertaken 10 funding rounds and raised $620.1 million. Its latest funding round - Series D Round, was conducted on April 11, 2023, and raised $100 million. 24 investors back the company; the main ones are Viking Global Investors, Goldman Sachs Asset Management, CapitalG, BlackRock, and GrowthX Accelerator.

AlphaSense - Mergers and Acquisitions
  • AlphaSense acquired 2 companies – Sentieo on May 11, 2022, and Stream by AlphaSense on October 25, 2021.
AlphaSense - Growth
  • The estimated annual revenue of AlphaSense in 2022 is $111.6 million per year, with its current valuation standing at 1.7 billion. Moreover, the monthly web visits grew by 65.27%, with 255,417 visits. Moreover, AphaSense’s customers grew to 3,500 in 2022 from 1,000 in 2019.
AlphaSense - Partners

AphaSense has partnered with the following:

  •     Bank of America
  •     Morgan Stanley
  •     Barclays
  •     Deutsche Bank
  •     HSBC
  •     Stanford Bernstein
  •     Refinitive
  •     Evercore ISI


AlphaSense - Awards and Achievements
AphaSense garnered many prestigious awards, and some of these are:

  • Leader Winter 2023 by g2
  • Best of 2023 by TrustRadius
  • 2023 Best Places to Work by BuiltIn
  • Best Software 2022 by TrustRadius
  • Fintech Breakthrough Award 2021
  • Best A.I./Machine Learning Data Initiative Award winner 2021


AlphaSense - Competitors
Some of its main competitors are:

  •     Wolfram Alpha
  •     LexisNexis
  •     Algolia
  •     Elastic
  •     CI Radar
  •     M-Brain
  •     TechnoMile
  •     Wide Narrow
  •     Comintelli


AlphaSense - Future Plans

  • AlphaSense wants to focus more on its internal company search to help companies better organize and access their data.
FAQs


Who founded AlphaSense and when?

  • Jack Kokko and Raj Neervannan co-founded AlphaSense in 2011.
What does AlphaSense do?
  • AlphaSense is a market intelligence and search platform that leverages machine learning (ML) and natural language processing (NLP) technology and is used by leading companies and financial institutions. It is an AI-driven search engine that helps companies extract valuable insights from the enormous volume of data to make informed business decisions.
Who are the main competitors of Alphasense?
Some of its main competitors are:

  •     Wolfram Alpha
  •     LexisNexis
  •     Algolia
  •     Elastic
  •     CI Radar
  •     M-Brain
  •     TechnoMile
  •     Wide Narrow
  •     Comintelli


What is the pricing offered by AlphaSense?

  • AlphaSense offers flexible subscriptions for accommodating team sizes, content needs, and more, ranging from pre-seat options to enterprise packages. ‘Pre-Seat Options’ are for small and medium-sized teams, and ‘Enterprise’ packages are for large teams and global companies.


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