AlphaSense Acquires Tegus: AI Reshaping Market Intelligence
In an era where data-driven decision-making is more important than ever, the landscape of market intelligence tools is rapidly evolving. As businesses grapple with ever-increasing quantities of information, artificial intelligence has emerged as a critical tool in deriving insights from vast data sets.
Against this backdrop, AI-powered market intelligence company AlphaSense has announced that it has completed its acquisition of Tegus for US$930m. The merger – first announced in June 2024 – combines AlphaSense's advanced AI search technology with Tegus’s extensive content library, creating a formidable force in the business insights and research sector.
“This transaction marks a pivotal moment for AlphaSense in our mission to help businesses and investors make better decisions with confidence and speed,” Jack Kokko, Founder and CEO at AlphaSense, commented when the acquisition was announced. “I am thrilled to join forces with the Tegus team as a significant leap forward in furthering our mission, adding top-quality content on public and private companies and enhancing our ability to deliver even more comprehensive insights to our customers around the world.”
Founded in 2011, the New York-based company has rapidly ascended, reaching unicorn status and beyond. In April 2024, AlphaSense surpassed US$200m in annual recurring revenue, with its growth fueled by a series of successful funding rounds, including a US$150m Series E round in 2023 that valued the company at US$2.5bn.
The latest funding round – which closed alongside the Tegus acquisition – further cements AlphaSense’s position as a market leader. The company secured US$650m from a mix of new and existing investors, including tech giants like Alphabet's CapitalG and financial powerhouses such as Goldman Sachs Alternatives, Viking Global Investors and BDT & MSD Partners, boosting AlphaSense’s valuation to US$4bn.
AlphaSense's rise to prominence is rooted in its innovative use of artificial intelligence, machine learning and natural language processing. These technologies form the backbone of its platform, which serves over 2,000 leading organisations including SAP and Alphabet’s Google. The platform's ability to rapidly extract crucial insights and understand nuanced meanings within vast amounts of text has made it an indispensable tool for businesses seeking to make informed decisions in an increasingly complex market environment.
Tegus acquisition expanding AlphaSense’s capabilities
Tegus, known for its expert research and financial data on over 35,000 public and private companies across various industries, brings a wealth of valuable content to AlphaSense's platform. This merger promises to deliver unparalleled insights to customers, covering both public and private companies with unprecedented depth and breadth.
AlphaSense's trajectory reflects the broader trend of businesses increasingly relying on AI-powered tools for decision-making. As the company continues to evolve, integrating Tegus’s capabilities and expanding its reach – including a new hub in Singapore to serve the Asia-Pacific region – it is poised to play a key role in shaping how businesses access and utilise market intelligence.
The completion of this acquisition marks not just a milestone for AlphaSense, but a significant moment in the evolution of AI-driven market intelligence. As businesses worldwide grapple with an ever-increasing volume of information, tools that can efficiently extract meaningful insights become invaluable. AlphaSense, with its enhanced capabilities following the Tegus acquisition, is well-positioned to meet this growing need, promising to deliver more accurate, timely and actionable insights to its expanding global customer base.
As part of the acquisition, AlphaSense will add Tegus employees to its workforce across offices in Chicago, Vancouver and Waterford, Ireland, most of whom remain focused on scaling Tegus’s library of expert transcripts and enhancing the capabilities of its financial data and workflow tools.
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