Funds for Big Data Firm AlphaSense

AlphaSense, which describes itself as an AI-based search engine for market intelligence, has secured $50m in Series B funding. Money will be used to step up product development, expand the firm's existing library of reports and expand its global footprint.

Launched in 2011, AlphaSense helps more than 1,000 enterprise customers - investment firms and other businesses - to find critical decision-making data by indexing and analysing more than 100 million documents such as SEC filings, broker research, earnings call transcripts, private company data, newspapers, trade journals, and internal company data and documents. Adding to around $90m already raised, the latest round was led by Innovation Endeavors with participation from Soros Fund Management LLC through its private investment vehicle, and other existing investors.

Innovation Endeavors has locations in Silicon Valley, Tel Aviv and New York City, and its Founding Partners include former Google CEO Eric Schmidt, as well as Rick Scanlon, who led the investment and has joined the board of AlphaSense.

Jack Kokko (pictured), CEO and co-founder of AlphaSense, comments: 'We are excited to be backed by Eric Schmidt and the Innovation Endeavors team, and remain focused on helping knowledge workers worldwide acquire critical business insights and data with great speed and confidence'. Schmidt says his firm was impressed by the way AlphaSense tackles the phenomenon of 'overwhelming and fragmented' data with its AI and search technology.

AlphaSense is headquartered in New York with offices in London, Helsinki, India, and across the US, and is online at www.alpha-sense.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.