Startup raises $500K for AI-powered customer support
TEL AVIV, ISRAEL — Innovative artificial intelligence (AI) startup Octo announced raising $500K in a pre-seed funding round, with startup accelerator Y Combinator leading the investment.
Founded in May this year by Ohad Navon and Nadav Zamir, Octo has swiftly carved a niche in the competitive AI space with its unique customer support solution.
Octo’s platform offers AI support agents trained on historical data that can effectively replace traditional customer support outsourcing.
The AI-powered agents can execute tasks through Application Programming Interfaces (APIs), review help center articles, and draft comprehensive 1000-word emails and chat responses. Renowned support teams, ranging from top-tier Amazon brands to emerging fintech unicorns, have incorporated Octo to tackle over 70% of their support inquiries.
Touted as the world’s first AI agents modeled after top-performing human agents, Octo promises seamless, in-depth conversations bolstered by infinite memory and impeccable knowledge.
Its prowess is not merely restricted to conversation; the AI is adept at accessing customer data, recalling past problem resolutions, and proactively addressing client concerns.
Developed with expertise from Nadav Zamir, former Director of AI at Alibaba, and drawing from Ohad Navon’s experience at Roundforest, these agents ensure precision, safety at scale, and the ability to simultaneously handle intricate conversation threads with multiple individuals.
McKinsey projects that generative AI might infuse the global economy with an annual value ranging from US$2.6 trillion to US$4.4 trillion. Yet, as AI’s capability to automate many tasks in the Business Process Outsourcing (BPO) sector increases, it is raising alarms for call center workers worldwide.
