AlphaSense recently opened its first office in Germany to support its Western European expansion plans in response to a recent acceleration in consumer demand, according to a press release.
"We are excited to establish the office in Germany and view this as an opportunity to double down on our expansion in the European market," said Jack Kokko, CEO and founder of AlphaSense. "With our longstanding presence in London and Helsinki, expanding to Frankfurt as a core economic hub on the continent is the natural next step in our European growth strategy."
Based in a popular European commercial, cultural and business hub, Frankfurt's Innenstadt, the new establishment will work to expand the company’s overall business footprint in the region and leverage the support system it has implemented for its local customer base based across Germany, Switzerland and Austria.
The launch follows a recent $225 million Series D finance agreement secured by the company, bringing its value up to $1.7 billion. The deal, led by Goldman Sachs and Viking Global, reflects an increase from its $180 million Series C funding valuation last September.
AlphaSense’s client catalog consists of numerous European top companies and multinationals as customers, including over half of the Germany blue-chip stock market index, DAX and other leading companies across the globe, such as Fresenius and AT&S. The company recently added a wide variety of non-English content, introducing eight different languages to the platform, including German.
As the company continues its search for a country manager, the office will be managed in the meantime by Peter Kovacs, senior vice president within AlphaSense's Global Sales team.
"The new office will enable our local team to grow and expand their impact in a critical European market as well as to amplify our already best-of-breed customer support with local hires across a variety of roles, including sales and customer support," Kovacs said.
“AlphaSense's platform leverages proprietary search technology powered by AI and NLP to extract relevant insights from an extensive universe of public and private content, including equity research, company filings, earnings transcripts, expert interview transcripts, news and trade journals,” a recent press release states. “Having on-demand access to key data and insights enables professionals to make critical decisions with confidence and speed, thus improving business performance and outcomes.”