About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

VoxSmart Raises $12 Million in New Funding

Subscribe to our newsletter

Surveillance technology supplier VoxSmart has raised $12 million in a funding round that includes ToscaFund and other existing investors. The latest raise is aimed at helping VoxSmart leverage the opportunity presented by the greater regulatory scrutiny of WhatsApp and other communications channels used by financial professionals.

VoxSmart CEO Oliver Blower says the company has witnessed growing demand among small and medium-sized financial institutions for an effective out-of-box surveillance solution. The latest funding round will be used to further develop VoxSmart’s technology underpinning its range of solutions for a wider breadth of clients, including mobile text and voice capture, trade reconstruction, and natural language processing (NLP).

The new funding follows Toscafund’s investment of $25 million in March 2021, as well as VoxSmart’s acquisition of US based AI and NLP technology provider GreenKey Technologies in November 2021. It also comes on the heels of an uptick in regulatory oversight and fines levied in 2022, in particular for communications violations involving WhatsApp. Last September, the US FCC and CFTC issued over $2 billion in fines to 11 of the largest market participants, according to VoxSmart, with the UK’s FCA launching a follow up probe to gauge the level of WhatsApp use amongst major institutions.

VoxSmart believes an increased focus from regulators on the multiple communications tools and channels used by financial institutions, combined with an increase in employee and customer usage of more diverse means of communication, is creating challenges for financial firms. With regulators taking a more stringent stance on communications, firms are facing a lack of tools suited for the industry, VoxSmart says, with the situation exacerbated by the launch of ChatGPT AND ChatGPT4.

The company and its backers reckon the technology it offers for addressing regulatory requirements relating to multiple communications channels, as well as its innovation in NLP, AI and machine learning (ML), can help. According to George Koulouris, partner at Tosca Fund, “VoxSmart has significant experience in assisting global market participants with these incredibly complex matters.”

Subscribe to our newsletter

Related content


Upcoming Webinar: How to optimise and streamline regulatory reporting using outsourced and managed services

Date: 13 June 2023 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes Regulatory reporting remains a top agenda item at many financial institutions as they struggle to implement new regulations and updates, capture and manage required data, and achieve compliant reporting. These issues can pile pressure onto compliance teams and drain...


ESMA Goes Live with Pilot of DLT Regulatory Regime

The European Securities and Markets Authority’s (ESMA’s) pilot of a Digital Ledger Technology (DLT) regulatory regime, which includes the standard Digital Token Identifier (DRI), is up and running. The pilot will operate for six years, during which regulated investment firms, market operators and central securities depositories operating DLT market infrastructure will be able to apply...


Institutional Digital Assets Briefing, New York

TradingTech Insight Briefing New York will explore how trading firms are innovating and leveraging technology as a differentiator in today’s cloud and digital based environment.


ESG Handbook 2023

The ESG Handbook 2023 edition is the essential guide to everything you need to know about ESG and how to manage requirements if you work in financial data and technology. Download your free copy to understand: What ESG Covers: The scope and definition of ESG Regulations: The evolution of global regulations, especially in the UK...