Wall Street’s AI race gets another $22M boost

The New York-based LinqAlpha raised a Series A financing of $22 million on July 2 to expand its platform for AI agents for institutional investors, which puts it in line with numerous other venture capital firms adding to the inflow of money into companies that are utilizing large language models (LLMs) to perform financial research and trading.

This funding round makes LinqAlpha one of the many different startups building applications based on AI and competing for share in an already large and growing sector, as several dominant players are also targeting this market and have existing multi-billion dollar valuations. For instance, AlphaSense, which creates AI-powered tools to provide market intelligence information, raised $350 million in a round completed on June 15 and had a valuation of $7.5 billion after reaching $600 million of annual recurring revenue, as announced by the company.

Competing with bigger AI players

Rogo, a company that also provides an AI-based research platform for Wall Street, raised a $50 million Series B funding round with Thrive Capital and J.P. Morgan in April 2025, according to their blog. Including its previously reported seed round of $6.6 million in 2024, LinqAlpha has now received approximately $28.6 million in total investment to date. Therefore, LinqAlpha is currently in a much earlier phase of development in regard to commercializing and scaling to customers than its peers, AlphaSense and Rogo, who have both completed larger Series A funding rounds.

LinqAlpha’s A-round funding is approximately one-fifteenth the size of AlphaSense’s most recent Series B financing round and approximately 50% of the amount raised by Rogo. This disparity in the size of the funding rounds illustrates that LinqAlpha will be pursuing international growth with significantly less capital than is being used by some of its closest AI research competitors.

LinqAlpha’s round was anchored by AVP, Atinum Investment, and GFT Ventures, according to a press release published via PR Newswire. The investor list leans heavily toward Asia: SBI Investment and Z Venture Capital from Japan, Samsung Securities and Mirae Asset Venture Investment from South Korea, Betatron Venture Group and East Ventures from Southeast Asia, and NuVentures from India, according to a report by TechNode Global.

The company had previously raised $6.6 million in seed funding in 2024, according to Tech in Asia.

What LinqAlpha actually does

LinqAlpha is creating AI agents for institutional investors to process various investment signals and discover valuable market insights. Their platform enables users to configure their AI agent according to their own investment strategy instead of only being able to rely on general search or summarization, according to PR Newswire.

Over 70 different financial institutions across the US, Europe, and Asia are currently using LinqAlpha’s AI Agent platform, including sell-side research and trading desks at investment banks and buy-side firms such as Causeway Capital Management and Schonfeld Strategic Advisors.

Collectively, LinqAlpha’s buy-side customers manage over $5 trillion USD in assets. This refers to the total amount of assets managed by LinqAlpha’s buy-side customers rather than the assets managed through LinqAlpha’s AI agents. Securing early-stage enterprise software customers that collectively manage trillions of dollars in assets validates that LinqAlpha has made significant progress gaining market share among major institutional investors despite not having extensive capital yet.

“Most AI tools in finance help professionals retrieve information faster or automate repetitive work,” said Manish Agarwal, General Partner at AVP. “LinqAlpha is addressing a larger opportunity: building systems that help institutional investors discover differentiated insights in public markets that reward speed, context, and proprietary judgment.”

Co-founder and co-CEO Hojun Choi described their product as a significant improvement over first-generation AI finance tools. The first generation of tools made analysts faster, whereas the second generation of tools changes what they know and creates a new distinction from the point at which information is retrieved to when investment signals are identified before they are incorporated into market prices.

A crowded but well-funded field

The investment is taking place in a sector where there is an increasing concentration of capital. The majority of Fortune 500 companies are using the AlphaSense platform at this time, and the June announcement said that over 7,000 global businesses are active on the platform. Some of the investors that Rogo counts as clients are Lazard, Moelis, Nomura, and Tiger Global.

As such, LinqAlpha is still an early-stage company compared to its competitors, who have raised much more extensive rounds of investment or achieved multi-billion dollar valuations. LinqAlpha’s current focus is growing its business internationally and broadening enterprise adoption. In addition, while LinqAlpha is focused on creating multi-agent systems specific to unique investment workflows, this will require conversion of LinqAlpha’s 70+ institutional customer base into more significant recurring enterprise contracts.

If successful, LinqAlpha’s funding to date could be viewed as demonstrating considerable capital efficiency, especially when compared with how many AI startups in today’s environment have used larger financing rounds to generate new growth.