Peak XV is the leader. M12 joins Kleiner Perkins and Bessemer Venture Partners; earlier investors return. Amazon Ring, Intuit and New York Life are named company clients; Total funding is currently $72 million.
Coat of armsThe San Francisco-based enterprise voice-AI platform has raised $50 million in Series B funding to expand its voice agent infrastructure, the company said Tuesday.
The round was led by Peak XV with participation from M12 (Microsoft’s Venture Fund), Kleiner Perkins, Bessemer Venture Partners and previous investors. The investment brings Vapi’s total funding to $72 million.
Vapi says its voice agents have handled more than one billion calls to date, with more than one million developers and 2.7 million unique agents set up on the platform. The company said its enterprise has increased its annual recurring revenue tenfold since the previous cycle.
Named enterprise customers include Amazon Ring, Poplar, Instawork, New York Life, UnityAI, Cherry and Intuit. Amazon Ring uses Vapi to handle incoming customer support calls related to smart home security devices. Jason Mitura, Ring’s vice president of software development, said in a statement that the company evaluated dozens of vendors before choosing Vapi.
“We went from zero to production in two weeks and 100% of our incoming volume now goes through Vapi” Mitura added that customer satisfaction scores have improved since the deployment.
The platform is an API designed to allow teams to create, deploy, and manage voice agents without engineering the configuration of agent behavior.
Vapi supports inbound customer service, outbound collections, candidate screening, sales-training simulations, and autonomous navigation of third-party IVR systems.
The company says the strongest traction has been in financial services, healthcare, insurance, automotive and workforce management.
Co-founders Jordan Dearsley and Nikhil Gupta met at the University of Waterloo and previously created a calendar product together that was backed by Y Combinator.
Vapi began in mid-2023 when Dearsley integrated a walking companion with a voice-based artificial intelligence; the product itself didn’t launch, but the latency-optimized infrastructure became the foundation for Vapi. Harvest Hunt In March 2024.
Arnav Sahu, a partner at Peak XV, announced the investment thesis in a statement. “Vapi has created a distinctive self-service product for developers and enterprises in the massive voice-AI revolution” Sahu said.
“In 10 years, most calls will likely not have a human behind the phone. With a bottom-up, PLG approach, we believe Vapi is the next Zapier and N8N for voice-AI workflows.”
Dearsley said in the announcement that the company’s focus is on production-grade customer outcomes rather than chatbot-style automation.
“Most businesses have spent decades of time and effort trying to make the customer experience worse” Dearsley said. “Vapi gives teams a platform to deploy voice agents that solve problems for millions of customers every day.”
Citing industry estimates, Vapi pointed to an estimated $3 trillion in global sales in 2026 being at risk due to poor customer experience, and a 2% drop in customer satisfaction scores from 2022 amid enterprise attractiveness.
The next phase of the product roadmap will focus on uptime guarantees, predictable latency under load, call-level monitoring, safeguards to keep agents within defined boundaries, and escalation paths to human operators, the company said.
