AlphaSense Expands Its Portfolio with Acquisition of Y Combinator-Backed AI Tool Carousel for Excel

In a significant move for the financial technology sector, AlphaSense, a leading business intelligence platform, is acquiring Carousel, a New York-based startup specializing in AI-driven Excel tools. Carousel’s assistant streamlines spreadsheet generation and financial modeling, enhancing efficiency for analysts by automating tasks such as data extraction and formula creation. With AlphaSense hitting $500 million in annual recurring revenue and serving over 6,500 corporate clients, the integration of Carousel’s talented team will further enhance its offerings. The acquisition follows AlphaSense’s acquisition of Tegus, which shifted its focus toward financial services. CEO Jack Kokko emphasized that while AI is transforming workflows, it won’t replace analysts; instead, it will empower them to perform complex modeling more efficiently. This trend mirrors the impact of Excel on the analyst profession, creating opportunities for increased productivity and innovation in the financial services industry. The Carousel integration is expected to benefit predominantly entry-level employees.

Source link