Voca.ai

AI-powered Agents for Call Centers

Business Software
Acquired (Inactive) by Snap on Nov 2020 - ceased to operate

Company Overview

Snapshot

Founded in May 2017 by Einav Itamar and Dr. Alan Bekker, Voca.ai operated with 1–10 employees. The company raised a total of $6.1 million across 2 funding rounds from 4 investors before being acquired by Snap in November 2020.

Business overview

Voca.ai specializes in developing AI-powered voice assistants for call centers, aiming to enhance customer satisfaction and operational efficiency by reducing the need for large human agent teams. The company's core technology utilizes end-to-end neural speech models to handle complex workflows such as ordering, account information access, general inquiries, service management, and call routing. Voca.ai serves various industries, including insurance and healthcare, with notable customers like AMEX and Toshiba, operating within the Business Software sector, specifically focusing on Artificial Intelligence and Voice & Speech Recognition for enterprise and call center clients.

Strategic signal

In November 2020, Voca.ai was acquired by Snapchat's parent company, Snap, for an estimated $70 million. This acquisition signals a strategic move by Snap to integrate advanced AI voice technology, potentially for enhancing user interaction within its platform or expanding into enterprise communication solutions, validating Voca.ai's innovative approach to conversational AI.

Company Intelligence Q&A

When was Voca.ai acquired?
Voca.ai was acquired by Snap in November 2020.
What was the estimated acquisition amount for Voca.ai?
Snap acquired Voca.ai for an estimated $70 million in November 2020, as reported by Calcalistech.com.
Which investors participated in Voca.ai's October 2019 funding round?
In October 2019, Voca.ai received funding from American Express Ventures and lool ventures.
What was a key strategic initiative for Voca.ai in March 2020?
In March 2020, Voca.ai was gathering data to build a coronavirus speech test, as reported by Voicebot.ai.
Which investors participated in Voca.ai's December 2018 funding round?
In December 2018, Voca.ai received funding from lool ventures and Flint Capital.

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