Box (NYSE: BOX), a Redwood City, CA-based provider of an intelligent content cloud company, acquired Alphamoon Technology, a Wroclaw, Poland-based AI-powered, intelligent document processing (IDP) technology company.
The amount of the deal was not disclosed.
The acquisition will further enhance Box AI to automate document-related tasks and extract valuable metadata from critical business content across a variety of industries.
Alphamoon offers a technology platform that combines large language models (LLMs) with proprietary OCR and document processing technology to intelligently structure documents at scale. Once fully integrated with Box, its technology will further expand the capabilities of the Box AI platform by leveraging:
- Advanced, proprietary OCR technology to intelligently understand complex document structures;
- Leading third-party AI models (such as GPT-4 and Gemini) to drive innovation in metadata extraction to allow Box customers to structure their unstructured content in a simple and easy-to-use way;
- Box’s enterprise-grade security and policies and applying it to AI implementation, with no additional training, to ensure all customer data remains safe and secure.
Led by CEO Aaron Levie, Box (NYSE:BOX) is an intelligent content cloud company providing a single platform that enables organizations to fuel collaboration, manage the entire content lifecycle, secure critical content, and transform business workflows with enterprise AI. Founded in 2005, it simplifies work for leading global organizations, including AstraZeneca, JLL, Morgan Stanley, and Nationwide.
FinSMEs
08/08/2024