alphasense

There are many companies working in the artificial intelligence industry that have been fundraising lately, particularly given the hype that has come into the industry thanks to developments such as ChatGPT and GPT-4.

AlphaSense is one such company that has been fundraising, and has managed to raise a further $100m, valuing the company at a $1.8 billion valuation.

What is AlphaSense?

AlphaSense is a brand new company that has been remarkably successful in attracting funding for their goals. The company seeks to use AI in order to make it easier to conduct market research.

The company boasts that they are already used by 75% of the top asset management firms and 80% of the top consultancy firms, who are dependent on AlphaSense’s UI and AI in order to garner as much relevant information as possible.

Making analysis easy

One of the main problems when conducting research is that the amount of information on the Internet can be somewhat overwhelming at times.

AlphaSense aims to ameliorate some of these concerns by collating and processing information in a manner that is easy. This means that people are able to conduct in-depth market research far more efficiently than they would otherwise be able to.

$1.8 billion valuation

The team has thus far managed to raise a lot of capital, with their most recent funding round estimating the company to be worth $1.8 billion.

For many who still haven’t heard of the company, such a high valuation for a company may sound surreal, or symptomatic of the hype in the AI community at the moment.

However, the AlphaSense has justified this valuation by demonstrating that their usage is increasing exponentially, and they are able to charge a subscription for their service, which makes it easy for them to generate revenue.

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