Behavox Secures $70 Million Credit Facility from Hercules Capital to Fuel Strategic Expansion and Innovation

London, United Kingdom – November, 2024 – Behavox, a global leader in AI-powered compliance solutions for the financial services industry, announced today that it has secured a $70 million credit facility from Hercules Capital, Inc. (NYSE: HTGC). This substantial funding further strengthens Behavox’s liquidity, providing resources for strategic acquisitions and the development of new product offerings aimed at enhancing compliance capabilities worldwide.
Renowned for its cutting-edge communication surveillance and regulatory archiving solutions, Behavox plans to broaden its suite of services in 2025 by launching new offerings for Trade Surveillance, Control Room, and Sanction Screening. The additional capital will support Behavox’s strategy of accelerating time to market for these solutions and expanding its distribution network, enabling the company to address the growing global demand for AI-driven compliance technology.
“Securing this facility is a testament to Behavox’s robust business model and our commitment to profitable growth,” said Kiryl Trembovolski, Chief Operating Officer of Behavox. “Our partnership with Hercules Capital equips us to expand both organically and through targeted acquisitions, propelling Behavox towards our goal of becoming the premier, all-in-one compliance technology provider.”
Hercules Capital, a leading provider of growth capital for innovation-driven companies, echoed its enthusiasm for the partnership.
“AI is increasingly transforming the compliance landscape, but only a select few companies are successfully blending growth with profitability and a unique value proposition,” said Steve Kuo, Senior Managing Director and Head of the Technology Group at Hercules Capital. “We are excited to support Behavox as they advance to the next phase of growth and innovation.”
Behavox has continued to invest significantly in product development, with its Intelligent Archive achieving over 100% quarter-over-quarter pipeline growth since its debut in January. Leveraging Behavox’s proprietary large language model, Intelligent Archive consolidates compliance technology stacks, reducing costs and enhancing regulatory adherence across more than 100 communication channels.
“As a profitable and forward-focused enterprise, we remain dedicated to investing in fundamental AI research, infrastructure, and product innovation to drive value for our clients,” added Erkin Adylov, Chief Executive Officer of Behavox. “The need to consolidate technology stacks, cut costs, and deliver genuine AI capabilities is greater than ever. Our expanding product lineup, powered by Behavox’s proprietary AI models, positions us well to meet this demand.”
To learn more about the strategic partnership between Behavox and Hercules Capital, look out for an exclusive podcast featuring Behavox CEO Erkin Adylov and Catherine Jhung, Senior Managing Director at Hercules Capital, releasing next month.
About Behavox
Founded in 2014, Behavox is an artificial intelligence company dedicated to building state-of-the-art AI systems that safeguard businesses and boost productivity. As a leader in AI-driven compliance, archiving, and security solutions, Behavox is trusted by major organizations worldwide to secure communications data and manage regulatory, conduct, and insider threat risks. Headquartered in London, Behavox operates internationally, with offices in New York, Montreal, Seattle, Singapore, and Tokyo.