Box, a cloud storage company has acquired dLoop, a data analytic firm. This acquisition is expected to add protection, enterprise content discovery and insight to Box’s platform that offers employees easy sync and sharing between several apps and devices and platforms.
According to an announcement that was made this week, dLoop technologies is expected to provide permission level, control and visibility of files that enterprises require in order to trust cloud storage.
The acquisition comes just a week following the announcement by Box of its intentions to raise another $100 million in venture investment that will be in form of Series E-1 Preferred stock. This is according to a recent regulatory filing.
Box had earlier developed a powerful admin tool that helps to protect business critical content. These tools are expected to expand following the acquisition of dLoop and offer administrators even greater safeguards on enterprise content.
At the moment, dLoop is able to discover documents that would normally be unreachable by pattern matching solutions or the normal search. This is done by creating continuous documents graphs as well as clusters from unstructured content with the use of machine-learning algorithms that find related and relevant content.
Following the announcement, dLoop co-founder Divya Jain will be joining Box in order to lead their efforts in advanced content analysis and data classification.