American Express Ventures (Amex Ventures) has invested in Israeli startup Voca.ai, which develops virtual agents using artificial intelligence (AI).
Current backers lool ventures and Flint Capital also joined the latest financing round.
Voca Agents are created using voice AI technology. The virtual agents involve a combination of human expertise and AI capabilities to support the interaction of businesses with their clients.
Amex Ventures managing director Dana Eli-Lorch said: “Voca’s virtual agents allow businesses to leverage conversational voice AI at scale to make servicing interactions more natural, intuitive and personalised, resulting in a better experience for customers and human agents.”
Voca.ai will use the fresh infusion for product development and expansion of its virtual agent service.
Currently, Voca Agents cater to more than two million calls per month across different use cases and sectors. They are expected to increase productivity, customer loyalty and sales.
The virtual agents are being used by lenders, credit card providers and insurance companies. The organisations leverage the technology for the acquisition of customers, payments, collections, among others.
Voca Agents enable a two-way conversation. They can regulate the voice, language, accent, pitch and tone, along with its responses for better customer experience.
Voca.ai CEO Einav Itamar said: “More and more businesses are implementing virtual assistants into their call centres, 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.
“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.”