Behavox said on 31 October 2024 that it had secured a $70 million credit facility from Hercules Capital, Inc. (NYSE: HTGC). The company said the funds were intended for strategic acquisitions and new product development aimed at compliance teams in banks, asset managers and other regulated firms that buy AI surveillance and archiving software.
Behavox said it planned a 2025 portfolio expansion into trade surveillance, control room and sanctions screening. It also said Intelligent Archive, launched in January 2024, had achieved more than 100% quarter-on-quarter pipeline growth since launch. A later June 2026 financing release said the Hercules facility had underwritten the Mosaic Smart Data acquisition and a strategic interest in b-next.
Steve Kuo of Hercules Capital supported the partnership and Behavox’s growth plans in the announcement. Behavox, founded in 2014 and headquartered in London, builds AI software for communications surveillance, regulatory archiving and related controls, and at the time was still months away from launching Polaris trade surveillance.
The October 2024 release did not disclose drawdown timing, interest terms or which acquisition targets were under consideration when the facility closed. The facility was later repaid and retired when Behavox raised preferred equity from HPS Investment Partners in June 2026.