New York-headquartered AI data analytics company Behavox has significantly boosted its Canadian presence, expanding its existing base of operations in Montreal.
Behavox plans to open a larger Montreal office to better support its new and existing Canadian customers. The Montreal hub will also serve as a “major innovation and operational centre” for Behavox to grow its global business at scale.
“Our office expansion represents our latest strategic investment in Canada as part of our North American operations.”
Looking to take advantage of the city’s tech talent, Behavox opened a Montreal office in 2018. Through a new partnership with Montréal International, Investissement Québec, and Ivanhoé Cambridge, involving a $35 million lease, Behavox is set to create a 400-person office space at Maison Manuvie.
“Our office expansion represents our latest strategic investment in Canada as part of our North American operations,” said Erkin Adylov, Behavox’s founder and CEO. “While this solution development supports our global go-to-market plan, its proximity enables Behavox to support new and existing Canadian customers with much more efficiency and focus.”
“Montreal is a talent hub in AI and machine learning development,” said Adylov. “We plan on enriching it.” Adylov himself intends to relocate to the city this summer.
The company views Canada as a “fundamental part” of its North American operations and global business strategy, and sees its investment as long-term.
Behavox touts itself as the “only end-to-end data operating platform.” The company’s AI-driven platform allows organizations to securely aggregate, analyze, and act on their internal data through advanced analytics and machine learning, enabling them to mitigate risk and identify revenue opportunities.
According to Adylov, the current “macroeconomic climate” has required Behavox to support its customers “more than ever before” by making it harder for organizations to manage risk and regulatory compliance amid remote work environments.
RELATED: Montréal tech saw five-quarter high in venture deals prior to COVID-19 crisis
“Customers tell us that our solution is increasingly important as they manage complexities caused by managing regulatory compliance, code of conduct policies, and risk both from within and beyond traditional office boundaries,” said Adylov. “Our Montreal team plays a pivotal role in creating the future-facing AI, machine learning, and SaaS-based solutions that our customers need as they encounter greater challenges to their regulatory and conduct-based compliance programs.”
The company, which also has offices in New York, London, and Singapore, said it is actively hiring engineering, data science, and product development workers, and hopes to fill its Montreal office to capacity later next year. Behavox said the new team members will “accelerate” the company’s data analytics capabilities and enhance its ability to provide flexible SaaS solutions. Behavox did not address how the current COVID-19 pandemic affects its plans to open a 400-person physical office.
“Artificial intelligence will play a key, and growing, role in all sectors of our economy, and our metropolitan area is a hotbed of talent in this field, particularly in research,” said Pierre Fitzgibbon, Quebec’s minister of economy and innovation. “The establishment of Behavox’s new office in Montreal will consolidate our artificial intelligence ecosystem and enhance our international profile.”
“Behavox joins a list of close to 40 AI companies accompanied by Montréal International professionals since 2016, which says a lot about Montréal’s strength and attractiveness in artificial intelligence, but also in cybersecurity, another crucial sector for the future,” said Stéphane Paquet, president and CEO of Montréal International.
Photo via Unsplash