American company Box, a leading Intelligent Content Cloud, announced its acquisition of the AI-powered, intelligent document processing (IDP) technology of Alphamoon. This strategic move, along with Box’s recent acquisition of Crooze, a leading provider of no-code enterprise content management applications, significantly expands the Box Intelligent Content Management (ICM) platform. The acquisition further enhances the power of Box AI to automate document-related tasks and extract valuable metadata from critical business content across a variety 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,” said 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.”
Why Alphamoon? The Polish startup’s technology combines leading large language models (LLMs) 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 IDP.
“IDP remains a critical origination point for increasingly complex document workflow using intelligent capture paired with automation,” commented Amy Machado, Senior Research Manager, Enterprise Management & Workplace Strategies, IDC. “To enable automation, organizations need a high level of accuracy, usability, and flexibility to support their diversity of documents and custom business requirements. With the Alphamoon acquisition, Box now has a complete end-to-end solution, unlike the pure-play IDP vendors.”
Alphamoon’s technology for document extraction and metadata will be seamlessly integrated into Box and these enhancements will enable customers to tackle a number of use cases and projects with wide-ranging benefits. Box expects to announce availability and pricing for new intelligent document processing capabilities at a later date.