AlphaSense Tops $700 Million in Annual Recurring Revenue, Takes IPO Steps

AlphaSense, which sells AI-powered search and market research tools to banks and other businesses, has been working with advisers on a potential initial public offering in the coming months, according to people with direct knowledge of its plans.

The plans follow recent fast growth at the 15-year-old company, which was valued at $7.5 billion after a funding round last month.

It is currently generating over $700 million in annual recurring revenue, up 40% in the last year, said the people and a third.