news | Business Insider A company that uses technology to help hedge funds and banks bust rogue employees just raised $70 million December 21, 2018 | By Dan DeFrancesco A New York-based startup that uses artificial intelligence to help banks and asset managers screen for rogue activity among their employees just raised $70 million. Software company Behavox, which is able to analyze massive amounts of data like employee emails, texts and calls through a technology known as natural language processing, raised 40% more money than it had initially targeted, according to a source familiar with the deal. It’s the latest example of investor interest in fintechs focused on helping firms solve compliance issues, known as “regtech.” As of the third quarter of 2018, investors had poured twice as much funding into regtech companies than in the entire prior year, according to research provider FinTech Global . And regulations for financial institutions are only getting more complex. A recent survey conducted by Intertrust of 500 financial services executives found 85% expect regtech demand to grow until at least 2020. Behavox’s investors were not disclosed. Citigroup previously led a $20 million round for Behavox in November 2017, which venture capital firm Index Ventures also participated. In November 2017, Behavox was valued at $200 million, though a more recent valuation could not be learned. A spokesperson for Behavox declined to comment on the funding round. Share About Behavox Ltd. Behavox is a security software company that specializes in communication surveillance. As a market leader in the application of Artificial Intelligence to monitoring of text and voice communications, Behavox’s software protects companies and their employees from bad actors engaged in illegal and malicious activities. Compliance, surveillance, legal and SOC teams rely on Behavox software to reduce false positives and increase detection rate across a broad range of risks. There are many solutions to protect companies from outside risks; Behavox protects companies from inside risks. Founded in 2014, Behavox is headquartered in Montreal and has offices in New York City, London, Seattle, Singapore, and Tokyo. More information about the company is available at www.behavox.com Press Contact: [email protected]