Box takes over European AI start-up Alphamoon

Box has announced the acquisition of the European AI start-up Alphamoon. Alphamoon, based in Poland and funded by the EU, is an AI-based platform for document automation.

Box acquires Alphamoon’s team and intelligent data processing (IDP) technology to further extend the power of Box’s AI in automating document-related tasks and extracting valuable metadata from key business content.

With this strategic move and the recent acquisition of Crooze, a provider of no-code enterprise content management applications, Box is significantly expanding its Intelligent Content Management (ICM) platform.

The acquisition will further enhance Box AI’s capabilities to automate document-related tasks and extract metadata from key business content across a wide range of industries. Alphamoon is ISO 27001 certified. The platform follows a privacy-by-design approach and is GDPR compliant.

Innovation in intelligent document processing (IDP)

Alphamoon’s technology combines leading Large Language Models (LLMs) with proprietary OCR and document processing technology to intelligently structure documents at scale. Once fully integrated into Box, Alphamoon’s technology will extend the capabilities of the Box AI platform and revolutionize IDP by providing the following benefits:

• 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 enable Box customers to structure their unstructured content in a simple and user-friendly way;
• Box’s enterprise-wide security measures and policies and apply them to the AI implementation without additional training to ensure all customer data is safe and secure.

Alphamoon’s document and metadata extraction technology will be seamlessly integrated into Box and these enhancements will enable customers to tackle a range of use cases and projects with far-reaching benefits, such as

• Automatic extraction of metadata from business documents so that users can utilize the information stored in invoices, purchase orders, financial statements, contracts, leases, etc;
• Streamlining workflows based on extracted metadata, e.g. using metadata to identify missing information in a legal contract and alerting a lawyer to complete the contract.
• Integration of extracted information into external applications such as Salesforce. Today, Box for Salesforce integration is one of Box’s most widely used applications, and by leveraging Box’s enhanced metadata extraction, companies can optimize key workflows such as loan processing;
• Improvement of industry-specific processes, such as the analysis of clinical studies in the life sciences industry or financial documents in the financial services industry.

(sp/box)