Alphasense bags USD 33 million investment
Finnish financial search engine Alphasense has secured a 33 million-US dollar investment from a group of investors.
Investors include Tribeca Venture Partners, Triangle Peak Partners and Quantum Strategic Partners, which is managed by Soros Fund Management. Tom Glocer, the former CEO of Thomson Reuters, as well as other individuals also took all part in the funding round.
Launched in 2011, the search engine allows financial research to be gathered in a fraction of the time.
“The company is uniquely positioned to completely revolutionise how knowledge professionals work, proven by its success to date with financial services firms and major corporations,” says Brian Hirsch, co-founder of Tribeca Venture Partners.
The Alphasense system is used to gather relevant financial data such as SEC filings. It also uses a semantic indexing that can understand financial language, which allows for more extensive and faster research.
Over 450 investment banks use the search engine to gather data, but chief exec Jack Kokko tells Forbes that expansion is on its way: “It’s time to get aggressive and really invest in growth across multiple avenues that require significant capital.”