Box acquires Alphamoon

Box, the leading Intelligent Content Cloud, announced that it has acquired Alphamoon, a Polish startup specializing in intelligent document processing (IDP), powered by AI processing technology.

The companies did not disclose the amount of the deal, but the CEO of Box Aaron Levie said the acquisition provides a critical piece of functionality missing from Box AI, Alphamoon’s AI technology, to better understand documents and transfer them to workflows. This strategic move, along with the recent acquisition of Crooze, a leading provider of enterprise no-code content management applications, significantly expands the Box Intelligent Content Management (ICM) platform. The acquisition further enhances Box AI’s power to automate document-related tasks and extract valuable metadata from critical business content across industries

Alphamoon’s technology combines leading major large language (LLM) models with proprietary OCR and document processing technology to intelligently structure documents at scale. Once fully integrated with Box, Alphamoon’s technology will further expand the capabilities of the Box AI platform to revolutionize the IDP 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, so that Box customers structure their unstructured content in a simple and easy-to-use way. Also, Box’s enterprise-level security and policies and its implementation in the AI application, without additional training, will ensure that all customer data remains secure.

Alphamoon’s document export and metadata technology will integrate seamlessly into Box, and these improvements will enable customers to address a range of use cases and projects with broad advantages, such as automating metadata extraction from business documents that allow users to leverage information stored in invoices purchase orders, financial statements, contracts, leases and more. Streamline workflows based on exported metadata, such as using metadata to understand if information is missing from a legal contract and notifying a legal assistant to complete it.

Additionally, integrate exported information with external applications like Salesforce. Today, Box for Salesforce integration is one of the most widely used in Box, and by leveraging improved metadata export to Box, businesses can optimize core workflows. Finally, it helps to strengthen industry-related processes, such as the analysis of clinical studies in life sciences or financial documents in the financial services sector