One of the most interesting topics today for growing and large companies is how to continue to provide great service on a scale when hiring service representatives is a time-consuming and costly challenge. Israeli startup Loris.ai believes this challenge can be solved with the help of an AI-based system, which will help service representatives, shorten treatment time, and allow each representative to handle the largest number of applicants in same time.
Assisting customer service personnel
Loris.ai has developed a No-Code product that companies embed in their systems for customer service personnel using CRM systems such as Salesforce, Zendesk or LivePerson. The system, which uses NLP algorithms developed by the company, helps customer service people in real -time and gives managers insights about customers and conclusions for future calls – based on purpose and tone of the call.
Loris analyzes conversational messages, classifies the purpose and sentiment in each message, and uses historical information and scenarios entered into the system in advance. The system, Loris explains, predicts the next step a representative needs to take in a conversation to promote it in the best way and with a relatively fast response time. In addition, Loris evaluates all calls and generates representative performance and customer satisfaction insights for managers, so they can see what works better and what doesn’t, and where the company can improve. .
In a conversation with Geektime, the company’s CEO and one of the founders, Etie Hertz, explains that although the company looks like a competitor to Israeli mega-unicorn Gong and other large companies, this is not the case. “Gong, Zoom Info, Microsoft and even Salesforce are focusing on the world of sales, specifically voice sales calls. Their product provides insights to executives about sales calls in the organization, but it doesn’t provide real-time advice that helps salespeople. Loris works in the field of customer support via text, where conversations are very different from sales conversations– they are emotional, sometimes frustrating to the customer (as they expect an immediate, personal, and responsive response), and can leave them with a negative experience that can damage the company’s brand. ”The technological challenges, according to Hertz, are in providing textual suggestions, which tailored in tone and context, to a service representative, in less than a second.Hertz said these are completely different challenges from the things companies like Gong do.
Loris was founded in 2018, and it employs approximately 30 people in New York and their development center in Israel, managed by the company’s VP of Development Ron Schwartz. Today (Tuesday) Loris announced the completion of a $ 12 million round of funding led by Bow Capital Fund and American software company ServiceNow. Current investors such as Floodgate and Vertex Ventures also participated in the round. Prior to this round, Loris raised $ 7.1 million in Seed funding from various investors, including former LinkedIn CEO Jeff Weiner, Floodgate, Homebrew and Kapor Capital.