$2 M Series A funding secured by SA open-source intelligence startup VoxCroft
VoxCroft Analytics, a South African open-source intelligence startup, has acquired over $2 million in Series A investment from Knife Capital to accelerate its already fast development in the US and other foreign markets.
VoxCroft, which was founded in 2018, specializes in open-source intelligence (OSINT), which differs from other types of intelligence such as human intelligence (HUMINT) and signals intelligence (SIGINT) in that it uses open-source data.
Essentially, the company creates cutting-edge intelligence and risk analytics solutions for the government and business customers, assisting decision-makers by providing accurate, fast, and relevant data.
VoxCroft has headquarters in South Africa and the United States, and a worldwide staff of more than 100 people spread across 13 countries. Knife Capital’s US $2 million investment will aid the company’s strategic development objectives. South Africa’s CEO, Barend Lutz, said the company was looking forward to collaborating with Knife Capital on its expansion strategy.
“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,” he said.
“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.”
Knife Capital managing partner Andrea Böhmert explained why the firm chose VoxCroft for funding.
“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,” she said.
“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.”
