The text analytics and open-source, multilingual insights software provider anticipates increased demand and continued growth in 2023
Babel Street, the world’s leading data-to-knowledge company, highlighted a successful 2022 as the company plans for continued growth in the new year. In addition to completing the significant acquisition of Rosette at the end of December, Babel Street continued to assert itself as a leader in Open-Source Intelligence (OSINT) throughout the year, bolstered by expanded partnerships, new product launches, and cornerstone leadership changes.
Babel Street delivers critical and timely insights derived from a massive digital landscape of multilanguage publicly available data through a single pane of glass for analysis, collaboration, and action at superhuman speed. In November, Babel Street announced it was to acquire the text analytics platform Rosette®, a solution provided by BasisTech. The acquisition further positioned Babel Street as a highly differentiated leader for threat intelligence, risk mitigation, and identity management applications.
Together, in 2023, Babel Street and Rosette will grow into new markets and address the mission-critical needs of the global intelligence community, defense markets, and commercial brands. Rosette earned major new customers in 2022, including use in the UK’s Home Office Border, Immigration, and Citizenship System. In partnership with a national Ministry of Defense, Rosette developed and released natural language processing capabilities for major Southeast Asian and Pacific languages, including Malay, Indonesian, and Tagalog. The software also advanced mission applications in national criminal justice systems, modernizing name-matching with AI techniques to improve accuracy and provide more correct connections with criminal justice data and protect civil liberties by increasing match precision and reducing false matches.
The year further validated the growing demand and need for OSINT. In 2022, Babel Street expanded its partner network by over 25 percent. Babel Street also added nearly 100 new deployments to its portfolio, with organizations ranging across corporate and government industries. OSINT remains a top priority within both private and public organizations for global situational awareness, assessing insider threats, efficient and effective screening, and risk mitigation.
In response to the growing market, Babel Street grew its product offerings in 2022. In August, the business introduced three new Insight APIs that allow customers and partners to incorporate the unprecedented, standardized publicly available data onto any chosen platform. The Babel Street Insight APIs include global and multilingual capabilities, which make it possible to process any publicly available input in hundreds of languages, as well as access to the AI and ML-enabled Babel Data Library, the world’s largest and most diverse collection of enriched, standardized data.
In 2022, Babel Street also introduced expanded professional service offerings to drive additional value for customers. Customers receive dedicated solution engineers, personalized design and consulting services, early access to platform innovations, regular solution health checks, and more.
“Babel Street’s aggressive growth and expansion this year provided further evidence of the critical value of publicly available information when incorporated into our AI-enabled offerings,” said Michael Southworth, CEO. “I was one of many who was fortunate to join this mission-driven organization in 2022. Together, I look forward to expanding partnerships and markets to grow Babel Street’s platform to help government and commercial institutions mitigate risk.”
Along with Southworth, this year brought new leadership additions to the Babel Street team, including:
- Brian Daum named CFO
- Eric Bowen promoted to COO
- Jon Cassady promoted to General Counsel
- Jennifer Snell named SVP of Marketing
- Pat Butler promoted to EVP of Product
The OSINT market is expected to grow to over $20 billion by 2027, with national security teams and large enterprises leading adoption. Analysts have also predicted that by 2025 over 463 exabytes of data will be generated each day globally. Babel Street will continue to lead this growing market in 2023 by supporting the mission-critical needs of government and commercial organizations worldwide with unparalleled insights and threat detection.
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