Box said it has acquired Alphamoon Technology in a move that will enable it to combine large language models (LLMs) and document processing technology to its platform.
The purchase complements Box's recent move to acquire Crooze. Box is building out its Box Intelligent Content Management platform to use AI to automate document-related tasks and extract metadata from business content.
In May, Box CEO Aaron Levie outlined the company's long-term strategy for Box AI and mining unstructured data, workflows and vertical use cases. Regarding Alphamoon Technology, Levie said Alphamoon Technology will be integrated into Box AI.
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Box said Alphamoon Technology will complement its Intelligent Document Processing with the ability to use optical character recognition (OCR) to understand complex documents, extract metadata and integrate third party LLMs securely. Alphamoon Technology can read and automate the processes attached to invoices, deeds and receipts.
Alphamoon Technology will also be integrated with external applications via Box's partnership with Salesforce.
Constellation Research analyst Liz Miller said the Box acquisition of Alphamoon Technology makes a lot of sense. She said:
"This is a smart move by Box, an application that has long been part of the content supply chain, often straddling the gaps between content management systems designed for enterprise content storage and use and those content management systems built for experience centric applications including digital asset management.
Adding this capacity to quickly (and at scale) process documents and extract data from them adds a new intelligence stream to transform a trove of documents into a stream of intelligence and insight. This is a move we have seen from other asset, content and document players as the worlds of CMS and ECMS align and, in some cases, converge. The question (and test) for Box will be how they take the next step: will they stay isolated as a repository for these assets and documents or will they engineer smarter pathways to send this data outside their walls?"
