Encore AI, a startup that analyzes customer interactions to build and deploy AI voice agents—either assisting sales and support teams or operating independently—has secured $30 million in a Series A funding round led by Team8.

Founded in 2022 as Insait IO by CEO Dvir Ginzburg, the company initially developed recommendation software for financial advisers and relationship managers. After rebranding as Encore AI, the startup evolved that system into a platform that examines conversations between a company’s employees and customers. It identifies which approaches led to successful outcomes and uses those insights to train its AI agents. According to Ginzburg, the result is an AI agent that incorporates the strongest elements of an organization’s best-performing employee playbooks. He calls this process “interaction mining.”

The platform collects call recordings, emails, and text messages, linking that data with CRM systems. It then breaks customer interactions into stages to determine which parts of a conversation helped move things forward and which failed. Additionally, the platform helps companies spot gaps in their existing customer support and sales processes, pinpoint inefficiencies and friction points, and uncover key issues.

Encore’s AI agents can communicate directly with customers via voice or text, or act as assistants to employees by suggesting responses and tactics during live conversations. Ginzburg reports that the company has over 40 enterprise customers globally, most of which are financial institutions. He also noted that Encore’s annual recurring revenue has grown more than fivefold since its seed round less than 18 months ago, though he declined to disclose exact revenue figures or valuation.

While Encore is an early entrant in this space, maintaining its edge may become challenging as large CRM providers like Salesforce, SAP, Zoho, and HubSpot could build similar AI capabilities using their customers’ data. However, Ginzburg argues that access to data alone isn’t sufficient. Established vendors would need to overhaul their processes to make historical customer conversations the foundation of their agents, as Encore does. “The biggest players that we are competing against, they don’t see [conversational] history as a data point that they are utilizing. For them to start asking for conversational data with their current employees will require changing their entire implementation stack and technological stack,” he said.

Planven, Lukatz, and Garage also participated in the round, along with several banks and insurers. Encore noted that some of the financial institutions that invested first used the product before deciding to back the company. The startup plans to use the Series A proceeds to expand its U.S. sales operations and deploy its platform with more large financial institutions.