London-based communications surveillance group VoxSmart has raised $12 million in funding from existing investors, including ToscaFund.
VoxSmart supports over 100 blue chip financial market customers to monitor and reconstruct trade chatter from voice, mobile, email and messaging in order to detect signals of malpractice and market abuse.
The firm says the recent regulatory crackdown on the use of WhatsApp, which has seen a group of 11 market participants in the US fined over $2 billion, demonstrates the growing value of its technology.
The latest cash injection will be used to further develop VoxSmart’s technology underpinning its range of offerings for a wider breadth of clients, including mobile text and voice capture, trade reconstruction, and NLP.
Oliver Blower, COE, VoxSmart, says: "The fact that our investors have once again placed their trust in us is testament to VoxSmart’s market position, as well as the confidence in our team, technology and AI capabilities."