Virtual Assistants

Boost.ai secures $5 million investment for global expansion

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Boost.ai, a provider of chatbots and virtual assistants, has secured up to $5 million in a new round of financing from Alliance Venture.

Lars Ropeid Selsås, founder and CEO of boost.ai, said: “The investment comes at a very exciting time for boost.ai and will enable us to expand internationally, at greater pace. After acquiring several major clients in recent months, we have identified several areas in which to strengthen our operations, helping us meet the demands of our rapidly growing customer base. It will also help us continue our cutting-edge research on natural language processing.”

Johan Gjesdahl, Partner at Alliance Venture, said: “Lars and his team have developed a superior virtual assistant in the James platform, combined with an impressive ability to deliver their product to exacting customers. Our diligence calls confirm this – it is seldom we see such strong customer satisfaction with both a product and the team that delivers it. We are very happy to back such an exceptional team and are looking forward to help growing boost.ai outside the Nordics.”

The company intends to use the funds to fortify its technical and commercial teams and expand its operations beyond Scandinavia, where it currently holds a substantial market share.

Separately, cybersecurity startup CounterFlow AI announced that it has raised $2.7 million in seed funding from Osage University Partners, the Charlottesville Angel Network, and many other individual investors.

Randy Caldejon, CounterFlow AI’s CEO, said: “The traditional perimeter defence approach to securing networks is still necessary. But it is no longer sufficient. The fact is that data breaches occur daily. Consequently, security analysts have turned to threat hunting as the best form of defence. Our mission is to arm them with the next generation of tools so that they can scale their hunting operations and win the day.”

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