Boost AI raises $5M from Alliance Venture for a virtual AI-based custom agents platform.

Norway Investments 09 February 2018
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Boost AI, a Stavanger, Norway-based company managing a platforrm for custom virtual agents, announced securing $5M in a seed investment round from Alliance Ventures.

The financing will be used to strengthen the technical and commercial teams within, and to support expansion beyond the Nordics. After the deal, the founders will own two thirds of the company.

Boost AI, founded in 2016 by siblings Lars and Hadle Selsås and Henry Vaage Iversen, developed a virtual assistant platform by using natural language processing (NLP) algorithms. These algorithms enable virtual assistants built on the James platform to respond to customer enquiries quickly, efficiently and with unrivaled accuracy.

The company started to make money, as it had closed a licence deal of NOK 30M ($$3.8M) per year.