AlphaSense Achieves US$4bn Valuation as it Acquires Tegus

The company boasts a broad range of clients, including SAP and Alphabet’s Google (Image: AlphaSense)
AlphaSense has achieved a billion-dollar valuation in a fresh funding round, as it agrees to privately buy business rival Tegus in a US$930m deal

Market intelligence company AlphaSense has been steadily increasing its valuation over the past year, having just reached the US$4bn mark.

The New York-based company surpassed US$200m in annual recurring revenue in April 2024 and previously raised US$150m in 2023 as part of a Series E financing round that valued the company at US$2.5bn at the time.

Having operated as a search platform since 2011, AlphaSense is used by more than 2,000 leading organisations. It harnesses the power of artificial intelligence (AI) to help businesses make smarter decisions by delivering insights from an extensive range of public and private content.

The company boasts a broad range of clients, including SAP and Alphabet’s Google.

Leading businesses continue to invest in AI

The recent US$650m capital raise was co-led by investment firm Viking Global Investors and merchant bank BDT & MSD Partners, including participation from existing investors Alphabet's CapitalG and Goldman Sachs Alternatives.

New investors also participated in this funding round, including J.P. Morgan Growth Equity Partners, SoftBank, Blue Owl and Alkeon Capital.

The company has been built on AI, machine learning and natural language processing (NLP), which speeds up time-to-insight and enhances the qualitative research process. It enables its users to extract the most important insights and understand underlying nuances and meanings within a piece of text.

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AlphaSense’s valuation boost is due in part to its agreement to acquire one of its competitors, Tegus, for US$930m. As a leading provider of research and financial data and workflow tools, Tegus is able to offer financial data insights that include coverage of more than 35,000 public and private companies. These cover numerous industries such as consumer goods, energy, life sciences, technology and telecom.

The acquisition hopes to bring Tegus’ data to AlphaSense’s platform, therefore empowering business and financial professionals to make smarter decisions through AI-driven market intelligence.

“This transaction marks a pivotal moment for AlphaSense in our mission to help businesses and investors make better decisions with confidence and speed,” comments Jack Kokko, Founder and CEO at AlphaSense. “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.”

Harnessing AI to power business transformation

AlphaSense has been working to transform the research process for more than a decade, enhancing its innovations with AI technology. This has led to the company holding a portfolio of trustworthy business content.

Both companies will collaborate to further enhance growth, innovation and content expansion. Through this acquisition, users of AlphaSense stand to benefit from the addition of Tegus’ extra financial data content, alongside AlphaSense’s AI and search capabilities. As a result, the combined user base will make it easier for customers to extract tailored insights to suit their business needs.

The news comes in the midst of several company milestones for AlphaSense, as the company has drastically doubled its revenue in less than two years. It has also opened a new hub in Singapore to continue expanding across the Asia-Pacific (APAC) region.


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