The LSE Directory / Fundamental data
Tegus is an investment research platform used by institutional investors, private equity firms, investment banks and corporates to conduct company and industry diligence. Its core product is a library of more than 100,000 investor-led expert call transcripts, primary-source interviews with former executives, customers, suppliers and competitors of a given company, searchable across the platform. Alongside the transcript library, Tegus offers more than 4,000 pre-built, post-earnings-updated financial models covering global public companies, built on its 2022 acquisition of Canalyst, and a searchable database of SEC filings and earnings call transcripts, built on its acquisition of BamSEC, accessible through a web application and an Excel add-in. Tegus differs from traditional expert-network competitors such as GLG and AlphaSights in how it prices and reuses call content. Rather than charging a large hourly consulting fee for each one-off call, it charges clients a per-seat annual platform subscription plus a comparatively small markup on the expert's own fee per call, and after a compliance review most call transcripts are published into a shared library available to its full client base, so later subscribers can research a company from accumulated transcripts before commissioning new calls. Pairing that qualitative content with Canalyst's drivable financial models and BamSEC's filings search gives clients primary research, financial models and regulatory disclosure analysis inside a single platform, positioned as an alternative to sourcing each of those separately. Tegus was founded in 2017 by twin brothers Michael and Thomas Elnick, and the company moved its base from San Francisco to Chicago. It grew in part through acquisition, buying New York-based SEC filings search platform BamSEC in October 2021 and Vancouver-based financial modeling platform Canalyst on August 2, 2022, a deal industry press reported at CAD 400 to 500 million (Tegus did not disclose the price). Tegus raised a $90 million round in November 2021 that valued the company at roughly $3 billion, and by 2024 it counted more than 2,500 asset management firms among its clients. In June 2024, AlphaSense agreed to acquire Tegus, and the deal closed on July 8, 2024 for $930 million, a price well below Tegus's 2021 valuation. AlphaSense simultaneously closed a $650 million funding round to help fund the combination, valuing the combined company at about $4 billion. Tegus now operates as part of AlphaSense, with its expert transcript library, Canalyst models and BamSEC filings search folded into AlphaSense's AI-driven research platform, and its Chicago, Vancouver and Waterford, Ireland offices continuing as part of the combined company.
