Box looks to “supercharge” AI offering with Alphamoon acquisition
Content management giant Box has announced the acquisition of Alphamoon, a Polish AI startup that specializes in intelligent document processing (IDP) technology.
The acquisition marks Box’s latest effort to expand its Intelligent Content Management (ICM) platform, following its purchase of Crooze, a provider of no-code enterprise content management applications, back in January.
In an announcement, the firm said Alphamoon’s technology will enable Box AI to automate document-related tasks and extract key metadata from critical business content across a range of industries.
“We are entering a new era of Intelligent Content Management and this acquisition represents a pivotal moment in our mission to revolutionize how enterprises derive value from their content,” commented Aaron Levie, co-founder and CEO of Box.
“By integrating Alphamoon’s cutting-edge AI technology with Box AI, and bringing the talented Alphamoon team to Box, we’re poised to address the longstanding challenges of metadata creation at scale and empower our customers with unprecedented new automation capabilities.”
Alphamoon’s IDP offering combines large language models (LLMs) with proprietary OCR and document processing technology to help organizations structure documents at scale.
Box said its integration will “supercharge” its AI offerings and enable its platform to understand complex document structures by leveraging Alphamoon’s advanced OCR technology.
As part of the deal, customers will also be able to easily structure their unstructured content, thanks to the inclusion of third-party AI models such as GPT-4 and Google’s Gemini model in driving the latest metadata extraction capabilities.
Additionally, the firm will apply its enterprise-grade security and policies to AI implementation to ensure customer data is safe and secure.
The expansion aims to tackle a variety of use cases, including the automation of metadata extraction from business documents to allow users to pull data stored within the likes of invoices, purchase orders, and contracts.
The technology will also help customers determine whether information is missing from key documents, integrate extracted information with external applications such as Salesforce, as well as enhance industry-specific processes such as analyzing clinical studies in life sciences or financial documents.
Box did not reveal availability and pricing for its new IDP capabilities in its announcement but said the details would follow “at a later date”.
“Alphamoon’s technology is truly next level,” commented Diego Dugatkin, Box’s chief product officer, in a blog post. “They’ve cracked the code on combining state-of-the-art language models (LLMs) with their own proprietary OCR and document processing tech.
“As we work to integrate Alphamoon’s technology natively into the Content Cloud, we’re paving the way for richer, more seamless, and highly customizable document workflows.
“This acquisition represents a significant step forward in our mission to provide enterprises with the most advanced, AI-powered content available.”
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