Telecommunications and internet conglomerate SoftBank’s Vision Fund 2 provided $100m in funding for US-based data analytics software provider Behavox yesterday.
Founded in 2014, Behavox has built a software platform that aggregates and analyses internal communications between an organisation’s employees, exploiting artificial intelligence technology to detect relevant patterns.
The platform is aimed at four core areas: mitigating compliance, automating customer relationship management (CRM) processes to identify revenue opportunities, locating insider threats, and detecting bad conduct among staff, such as harassment or inappropriate language.
The funding will support international expansion efforts, and in particular a global client roadshow. Behavox also intends to further invest in its product and customer support.
Munish Varma, managing partner at SoftBank Investment Advisers, said: “We believe Behavox is at the forefront of the AI revolution and is driving new market standards for making internal communications data useful to a broad range of users, from compliance to analysis of insider threats, from archiving and data governance to CRM automation.
“We have experienced the incredible insights and sophisticated analysis of the Behavox platform and are firm believers in their mission to organise all corporate communications data on earth to add value for successful companies.”
Behavox had previously closed a $20m series A1 round in 2017 that was led by financial services firm Citigroup and backed by venture capital firm Index Ventures.
The company had already secured an undisclosed amount in a series A round co-led by Hoxton Ventures and Promus Ventures in 2016, following $400,000 from unnamed investors in 2014 and another $1m the following year.
