AlphaSense acquires rival Tegus for $930m, valuation tops $4bn
Market intelligence platform AlphaSense is set to acquire Tegus, a provider of corporate intelligence solutions based in Chicago, USA, in a deal totalling $930 million.
AlphaSense acquires Tegus for $930 million
The acquisition, expected to close in Q3 2024, includes Tegus’ research platform, financial data and workflow tools, a combination AlphaSense says will bring a “breadth of private company data” to its AI-powered platform.
Jack Kokko, CEO and founder at AlphaSense, describes the purchase as a “significant leap forward in furthering our mission [to add] top-quality content on public and private companies”.
Founded in 2017, Tegus claims to have the industry’s largest and “most comprehensive” database of primary and market information. This includes coverage of over 35,000 public and private companies spanning various sectors.
The companies assert that their combined user base will now further benefit from “easily extracting proprietary insights”, achieved through the integration of Tegus’ extensive database with AlphaSense’s AI and search capabilities.
AlphaSense tops $4 billion valuation
In addition to announcing the firm’s purchase of Tegus, AlphaSense also reveals that it has raised $650 million in additional funding, which brings the company’s valuation to $4 billion.
The latest round was co-led by BDT & MSD Partners and Viking Global Investors, with participation from existing investors Goldman Sachs Alternatives and Alphabet’s CapitalG, who previously backed AlphaSense’s $150 million Series E last September.
Moreover, the round welcomed new investors such as Alkeon Capital, Blue Owl, JP Morgan Growth Equity Partners and SoftBank Vision Fund 2.
