Box acquires Alphamoon’s AI-based IDP tech, strengthening insights from business content

Box, Inc., the leading Intelligent Content Cloud, is announcing its recent acquisition of Alphamoon’s AI-powered intelligent document processing (IDP) technology. This acquisition—which builds on Box’s previous acquisition of Crooze, a leading provider of no-code enterprise content management applications—forwards Box’s enterprise strategy of delivering document-related task automation and valuable metadata extraction from business content, according to the vendor.

This acquisition will integrate Alphamoon’s advanced, proprietary OCR and document processing technology into the Box AI platform, enhancing its approach to IDP. The merged technology works to advance document and metadata extraction while implementing Box’s enterprise-grade security and policies for AI without the need for additional training, according to the company.

As Amy Machado, senior research manager, enterprise management and workplace strategies, IDC, stated, “IDP remains a critical origination point for increasingly complex document workflow using intelligent capture paired with automation. 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.”

Box noted that leading third-party AI models—such as GPT-4 and Gemini—will also serve to improve metadata extraction innovation, empowering Box users to structure their unstructured content simply and easily.

Forwarding seamless integration between Box’s platform and Alphamoon’s technology, this collaborative product will address a variety of new use cases, including:

• Automation of metadata extraction, surfacing greater value from business documents like invoices, purchase orders, financial statements, contracts, leases, and more
• Streamlined workflows based on extracted metadata, improving the comprehension of what information a document requires
• Integration of extracted information with external applications, including Salesforce, optimizing core workflows
• Enhanced industry-specific processes, such as analyzing clinical studies in life sciences or financial documents in the financial services vertical

"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."

To learn more about Box’s acquisition, please visit https://www.box.com/.