(Reuters) – AlphaSense said on Tuesday it has raised $100 million in a fresh round of funding backed by Alphabet’s venture capital arm CapitalG that valued the market intelligence platform at $1.8 billion.
Heightened volatility in the stock markets due to the U.S. Federal Reserve’s monetary tightening have prompted companies to tap private investors as the appetite for public listings remains subdued.
AlphaSense’s existing investors Goldman Sachs Asset Management and Viking Global Investors also participated in the latest funding round.
New York-based AlphaSense said it will use the funds to further its advanced artificial intelligence capabilities.
Last year, the company was valued at $1.7 billion after raising $225 million.
AlphaSense helps its customers extract relevant information from a trove of public and private content such as equity research, earnings calls, company filings and news.
(Reporting by Siddarth S in Bengaluru; Editing by Shounak Dasgupta)
