AlphaSense Makes Strategic Move with Tegus Acquisition and $650M Funding Boost
June 21, 2024, 9:34 pm
Location: United States, New York
Employees: 1001-5000
Founded date: 2011
Total raised: $1.39B
In a bold strategic move, AlphaSense, a prominent player in the market intelligence realm, has announced the acquisition of Tegus in a deal valued at $930 million. This acquisition comes hand in hand with a substantial funding injection of $650 million, co-led by Viking Global Investors and BDT & MSD Partners, alongside new investors like J.P. Morgan Growth Equity Partners and SoftBank Vision Fund 2. This funding round has propelled AlphaSense's valuation to an impressive $4 billion, solidifying its position as a key player in the market intelligence landscape.
The acquisition of Tegus, a Chicago-based provider of expert research, private company content, and financial data and workflow tools, is set to bring a wealth of benefits to AlphaSense and its user base. Tegus boasts an extensive library of high-quality expert research covering over 35,000 public and private companies across various sectors, including TMT, consumer goods, energy, and life sciences. Additionally, Tegus offers financial data on more than 4,000 public companies, along with a self-serve solution for accessing securities filings through BamSEC.
By integrating Tegus' robust content offerings with AlphaSense's cutting-edge AI technology and search capabilities, users can expect to extract even more valuable insights to inform their business and investment decisions. This collaboration between AlphaSense and Tegus is poised to revolutionize the research process, empowering users to uncover comprehensive insights from a vast array of content sets.
The significance of this acquisition is underscored by the shared vision of both companies to modernize research and provide clients with powerful tools to navigate the complex world of business and finance. Jack Kokko, CEO and Founder of AlphaSense, expressed his enthusiasm for the partnership, highlighting the potential for delivering top-quality content and comprehensive insights to customers globally. Similarly, Michael Elnick, Co-Founder and Co-CEO of Tegus, emphasized the transformative impact of joining forces with AlphaSense to empower clients in new and innovative ways.
This acquisition follows a series of notable milestones for AlphaSense, including surpassing $200 million in ARR, doubling revenue in under two years, and securing significant investments from leading firms like Alphabet's CapitalG and BOND. The deal is expected to close in the third quarter of 2024, with Goldman Sachs & Co. LLC and Evercore serving as financial advisors for AlphaSense and Tegus, respectively.
In conclusion, the AlphaSense-Tegus acquisition represents a pivotal moment in the market intelligence landscape, signaling a new era of innovation and growth for both companies. With a shared commitment to empowering users with comprehensive insights and cutting-edge technology, AlphaSense and Tegus are poised to redefine the research experience for businesses and investors worldwide.
The acquisition of Tegus, a Chicago-based provider of expert research, private company content, and financial data and workflow tools, is set to bring a wealth of benefits to AlphaSense and its user base. Tegus boasts an extensive library of high-quality expert research covering over 35,000 public and private companies across various sectors, including TMT, consumer goods, energy, and life sciences. Additionally, Tegus offers financial data on more than 4,000 public companies, along with a self-serve solution for accessing securities filings through BamSEC.
By integrating Tegus' robust content offerings with AlphaSense's cutting-edge AI technology and search capabilities, users can expect to extract even more valuable insights to inform their business and investment decisions. This collaboration between AlphaSense and Tegus is poised to revolutionize the research process, empowering users to uncover comprehensive insights from a vast array of content sets.
The significance of this acquisition is underscored by the shared vision of both companies to modernize research and provide clients with powerful tools to navigate the complex world of business and finance. Jack Kokko, CEO and Founder of AlphaSense, expressed his enthusiasm for the partnership, highlighting the potential for delivering top-quality content and comprehensive insights to customers globally. Similarly, Michael Elnick, Co-Founder and Co-CEO of Tegus, emphasized the transformative impact of joining forces with AlphaSense to empower clients in new and innovative ways.
This acquisition follows a series of notable milestones for AlphaSense, including surpassing $200 million in ARR, doubling revenue in under two years, and securing significant investments from leading firms like Alphabet's CapitalG and BOND. The deal is expected to close in the third quarter of 2024, with Goldman Sachs & Co. LLC and Evercore serving as financial advisors for AlphaSense and Tegus, respectively.
In conclusion, the AlphaSense-Tegus acquisition represents a pivotal moment in the market intelligence landscape, signaling a new era of innovation and growth for both companies. With a shared commitment to empowering users with comprehensive insights and cutting-edge technology, AlphaSense and Tegus are poised to redefine the research experience for businesses and investors worldwide.