Funding to fuel product development in conversational voice AI to transform the way businesses interact with customers
HERZLIYA, Israel, Oct. 23, 2019 /PRNewswire/ -- Voca.ai, the award-winning provider of human artificial intelligence (AI) virtual agents, today announced new funding from American Express Ventures, the strategic investment group of American Express. Amex Ventures joins existing investors lool ventures and Flint Capital, which also participated in this funding round.
Leveraging conversational voice AI technology, Voca.ai is building the contact center of the future with virtual agents, called Voca Agents, that combine human expertise and AI capabilities to transform the way businesses interact with their customers. The investment from Amex Ventures enables Voca.ai to accelerate product development and extend its virtual agent service to new sectors, use cases and languages.
While other virtual agents use speech-to-text, then process text to communicate with customers, Voca's speech-to-intent technology is built for voice to replicate human experience in two-way, intent-based conversation. Voca Agents can adjust the voice, language, accent, pitch and tone, as well as its responses to provide customers with a pleasant, helpful and human-like experience, instead of having robotic exchanges that lack empathy and natural language.
"More and more businesses are implementing virtual assistants into their call centers, and while consumers have become more open to interacting with AI, they ultimately want to feel like they are talking to someone that understands their needs," said Einav Itamar, CEO of Voca.ai. "Amex Ventures' funding will help Voca.ai further advance our mission to transform the customer experience with our empathetic and customer-friendly virtual agent that's designed for the voice-first revolution."
Launched in 2018, Voca Agents currently serve more than 2 million calls per month for a diverse range of use cases, across a variety of industries, to help boost productivity, improve customer loyalty and increase sales. Financial institutions, lenders, credit card providers and insurance companies are using Voca Agents for customer acquisition, payments and collections, servicing and more.
"Voca's virtual agents allow businesses to leverage conversational voice AI at scale to make servicing interactions more natural, intuitive and personalized, resulting in a better experience for customers and human agents," said Dana Eli-Lorch, Managing Director of Amex Ventures. "We are excited about Voca.ai's human-like AI technology and look forward to supporting them in their growth."
Founded in 2017 by Einav Itamar and Dr. Alan Bekker, Voca's mission is to make customers happier at scale. By learning quickly from a business' most successful human agents, Voca's virtual agents lead customers throughout their journey in the most natural, creative and empathetic way possible. Voca's virtual agents handle millions of calls for financial institutions, lenders, credit card providers and insurance companies around various use cases such as customer acquisition, payments and collections, customer service and more. Learn more at www.voca.ai.
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