UK AI startup Behavox lands investment from Citigroup
AI software firm Behavox has received $20m in a round led by Citigroup.
As a result of the deal, the firm, which has built compliance surveillance software, is now valued at $200m.
The London-based companys’ technology can be used by financial institutions to locate and question employee-generated data in real-time to find possible signs of wrongdoing.
Erkin Adylov, co-founder of Behavox, told the Financial Times that Citigroup was planning to use its technology in a bid to improve customer relations.
“The way you engage people is directly relevant to your performance … We can help firms to work out what drives more revenue,” he added.
Behavox also has offices in New York and Singapore and seeks to help companies reduce compliance costs, increase system efficiency, optimise team performance and track and measure corporate culture.
Jan Hammer, partner at Index Ventures, which is also investing in the startup, said: “Teams at every large organisation generate endless streams of data which, when analysed in real time, enable businesses to become more effective, secure and compliant.”
Behavox closed a Series A led by Hoxton Ventures in July last year. It raised a $1m Angel round in October 2015 and received $400,000 in Seed funding in August 2014.