AlphaSense the New Google of Financial Research
One of these tools is AlphaSense, which announced on March 8th that it had raised $33 million in new funding.
AlphaSense Purpose
AlphaSense officially launched in 2011, and provides a specialized web-based search engine that allows financial professionals to efficiently find critical documents and research that they need. The search engine provides its users the ability to search and analyze corporate filings, research documents, and even annotate them for essential and pertinent information.
How AlphaSense Works
Not only is AlphaSense a large and comprehensive resource, it has intuitive programming known as “semantic indexing” that allows the search engine to understand financial language.
For example, if the term “revenue” is searched, documents containing the word “revenue” will be brought up, but the intuitive search engine will also bring up like terms such as “sales” or “top line“. The search engine will also exclude references to terms that are opposites or would not make sense in the context of “revenue”, such as “cost of sales” or “expenses“.
Alphasense further shows off its intuitive and ingenious properties by combining its proprietary linguistic search, along with common natural language processing algorithms. This allows the tool to index every single word and passage of text in the documents, allowing the user to zero in on the most relevant references. By doing this the financial search engine saves users time and effort.
AlphaSense is both intelligent and easy to use, and its search engine utilizes thousands of resources, which include more than 1,000 sell-side research providers and more than 35,000 public corporations. The types of files the search engine gathers include relevant public and license financial data, including broker research, SEC filings and company press releases.
Who Are AlphaSense Customers?
Because of the wide range of information the financial search engine can collect, AlphaSense serves users at 450 investment firms, banks and corporations, including heavyweights J.P. Morgan, Oracle, and Pfizer. Most of its customers engage in investment research for hedge funds or mutual funds or manage portfolios, but other types of customers range from analysts to investment bankers and private equity.
Recently, the company has added features to improve the search engine, such as allowing users to annotate, share, and peer-review research, which will encourage collaboration. It will also be adding a cloud feature that will allow its users to upload in-house documents that are saved locally.
Because of its successful efforts to decrease what had been previously inefficient and wasted time in the workplace, the company has received many accolades. AlphaSense has been recognized for its success in the financial industry by receiving several awards, including the 2014 Best Sell-Side Analysis Product, Best Mobile Solution 2015, and the Buy-Side Technology Awards of 2015, Best Buy-Side Data Analysis Tool, among many others.
What Does The Future Have In Store For AlphaSense?
Although AlphaSense is a small company, it plans on using its new round of funding to expand its product to provide services for all knowledge professionals in areas such as management consulting, market research and corporate Research and Development, among others, to eventually target as many as 10 million new customers across multiple industries and professions.
As it continues to grow in customer base and as its features improve, AlphaSense shall become even more useful and relevant a search engine in the financial industry in its noble quest to battle inefficiency.
Are you or anyone you know a financial professional who is constantly buried in research and needs a more efficient way to work? You should share to let them know about this constantly evolving and developing financial tool!
To learn more about AlphaSense, visit them at: www.alpha-sense.com
- Pearson Higher Education
- Mark N.K. Saunders, Philip Lewis, Adrian Thornhill
- Publisher: Pearson
- Pamela Schindler
- Publisher: McGraw Hill
- Edition no. 13 (01/01/1970)
- Mark Easterby-Smith, Richard Thorpe, Paul R Jackson, Lena J. Jaspersen
- Publisher: SAGE Publications Ltd
- Edition no. 0 (06/06/2018)
Last update on 2020-03-19 / Affiliate links / Images from Amazon Product Advertising API
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