Behavox Closes A1 Funding Round

Summary:

• Citi and Index Ventures make investments in Behavox Ltd
• Behavox grows at over 500% in H1 2017
• Behavox set to expand into Asia in 2018

Behavox, the People Analytics software company, has closed a second round of financing to help scale and meet the rising demand for its platform, as more companies seek to find competitive advantages from data generated by their own employees.

Behavox’s technology enables businesses to make efficiencies and discover new insights from the analysis of vast amounts of structured and unstructured data. The platform upgrades their capability to be both compliant and protect reputation and drive profitability and revenue generation.

Leading the second funding round is Citi. Behavox also selected Index Ventures (from several other leading VC firms). Index’s understanding of the potential of People Analytics makes them a great partner for Behavox.

Jan Hammer, Partner, Index Ventures: “Teams at every large organization generate endless streams of data which, when analyzed in real-time, enable businesses to become more effective, secure and compliant. Behavox has proven that there is a growing demand for People Analytics in financial services and beyond. Erkin has an ambitious vision and has assembled an experienced team at Behavox. We’re excited to be working with Behavox to build a global category leader.”

The demand for the People Analytics software accelerated in 2017. Behavox enjoyed growth at over 500% in H1 2017. Demand is being driven by customer referrals, the capacity of the technology to generate unique insights,  plus the growing pressures in the market-place.  These include new demands and rules for regulatory compliance in financial services; rising shareholder demand for tracking and measuring corporate culture and conduct; and, growing awareness of the opportunity to optimise the performance of teams, through smarter analysis of their own data.

Erkin Adylov, CEO, Behavox: “People Analytics software is a pioneering technology making companies smarter, more secure and more successful. The Behavox platform generates previously undetectable insights about corporate conduct, culture and commercial opportunities. The demand is being driven by a growing recognition that in the real-time economy, companies cannot afford to have any blind-spots about the strengths and weaknesses of their teams and operations.”

Behavox’s People Analytics software is being used and tested across a diverse range of businesses, including asset management firms, like Balyasny Asset Management; multinational corporations, such as Anglo American; and world-leading banks, such as Citi. Announcements about expansion in new markets, principally Asia, will follow in the next few months.