Knowledge management platform KMS Lighthouse has announced the acquisition of fellow Israeli startup Reps AI, which specialises in AI-driven agent and employee assist technology. Although the financial terms are undisclosed, Reps AI achieved a valuation of $20 million during its last funding round in 2019.
At present, Lighthouse helps businesses in various industries reduce agent training and customer call time, and to minimise error rate. The takeover will bolster its AI capabilities, as not only the Reps AI technology but also its full team will immediately join the company.
“While there is a lot of hype surrounding AI, we’re deploying real, hard-nosed and practical tools that significantly reduce the cost of service for call centers by up to 30 percent,” said Shachar Grembek, a co-founder of Reps AI.
Founded in 2017, the startup had previously raised a $1.2 million seed round (from iAngels and London-based VCs Founders Factory and Start Capital) and earned customers such as easyJet, monday and Yves Rocher.
Photo from left to right: Shachar Grembek, Reps AI CTO; Sagi Eliyahu, KMS Lighthouse CEO; Boaz Omanuti, Reps AI CEO