AI voice infrastructure startup Vapi has closed a $50 million Series B led by Peak XV Partners at a valuation of approximately $500 million, following a high-profile deployment with Amazon Ring that routed the smart home company’s entire inbound call volume through Vapi’s platform.
Ring turned to Vapi during the 2024 holiday season after evaluating more than 40 AI voice vendors. Jason Mitura, vice president of software development at Amazon Ring, said customer satisfaction scores improved after deployment and that teams could tune the AI agent behaviour without relying on engineering resources.
Vapi was founded by Jordan Dearsley and Nikhil Gupta, who pivoted to voice infrastructure in 2023 after discovering that enterprises were more interested in their low-latency AI backbone than the therapy application built on top of it. The platform has now processed more than one billion calls, handling between one and five million daily.
Other enterprise customers include New York Life, Intuit, and Instawork. Additional investors in the round include Microsoft’s M12, Kleiner Perkins, and Bessemer Venture Partners, bringing total funding to $72 million. Vapi plans to expand its engineering and go-to-market teams.
Featured image: Credit: Vapi
