Voxcroft Raises $2m Series A Round
The SA Startup specialises in open-source intelligence (OSINT), an often neglected source of insight differentiated from the other forms of intelligence such as human intelligence(HUMINT) or signals intelligence (SIGINT).
VoxCroft Analytics said it has raised close to US$2 million in Series A funding from Knife Capital to expedite its already-rapid expansion in the United States and other international markets.
According to report from Disrupt Africa, the startup is building state-of-the-art intelligence and risk analytics solutions for government and private customers, helping decision-makers by providing them with accurate, timely, and relevant information.
VoxCroft currently has offices in South Africa and the United States, with a growing global team of more than 100 across 13 countries. The US$2 million raised from Knife Capital will help the company to expedite strategic expansion plans.
Barend Lutz, South Africa Chief Executive Officer (CEO) said: “The collection and analytical components in open-source intelligence are increasingly sophisticated and critical to public and private sector success in anticipating risk faster than ever before. With Knife Capital investment, VoxCroft is poised to redefine how information can be discovered, analyzed, and delivered across the globe. With their focus on tech, Knife Capital understands how our new form of intelligence tradecraft synthesizes machine learning, exclusive machine translation, data science, and human wisdom.”
Andrea Böhmert, Managing Partner at Knife Capital, outlined: “At Knife Capital we believe in investing in forward-focused companies that solve real problems and can generate great returns for our shareholders. VoxCroft fits the ideal investor model. We’ve been tracking VoxCroft for some time and have been impressed by the technology, the team, and the depth of insights the company is able to provide to a wide range of customers with diverse intelligence needs.”
“What convinced us was their ability to prognosticate the recent insurgency activity in northern Mozambique and incredibly fast, accurate, and relevant response to the riots in South Africa. Our funding will help the company to make some immediate key strategic appointments and propel growth plans in anticipation of a larger funding round that will be raised in the next 6-12 months,” she added.