Encore AI raises $30M to build AI agents that learn from customer calls

Encore AI, a startup that studies companies’ customer interactions to train and deploy AI voice agents, has raised $30 million in a Series A round led by Team8. Founded in 2022 as Insait IO, the company initially built recommendation software for financial advisers and relationship managers. Now rebranded as Encore AI, the startup has expanded into a platform that analyzes conversations between employees and customers to identify successful approaches and train its AI agents.

According to CEO Dvir Ginzburg, the resulting AI agent leverages the strongest parts of the organization’s employee playbooks. “Sometimes our agents even tell the jokes that the relationship managers are telling, or give the anecdotes that the relationship managers are giving, because we literally run by the playbooks that we see working,” he told TechCrunch in an exclusive interview. Ginzburg calls the process “interaction mining.”

The platform collects call recordings, emails, text messages, and integrates with CRM systems. It then breaks down customer interactions into stages to determine which parts helped move the process forward and which failed. This allows Encore’s agents and customers to learn what works best for any particular client or interaction, as different employees may be more or less effective at different points.

Encore AI has over 40 enterprise customers globally, mostly financial institutions. Its annual recurring revenue has increased more than 5x since its seed round less than 18 months ago, though exact numbers are undisclosed. The company plans to use the Series A proceeds to expand U.S. sales operations and deploy its platform with more large financial institutions. The round also included participation from Planven, Lukatz, and Garage, as well as several banks and insurers.