Vapi secures $50 million in Series B funding, with Peak XV leading the investment, focusing on enterprise voice AI.

      Peak XV is at the forefront of a funding round, with M12, Kleiner Perkins, and Bessemer Venture Partners participating, along with returning investors. Enterprise customers include Amazon Ring, Intuit, and New York Life, pushing the total funding to $72 million.

      Vapi, based in San Francisco and specializing in enterprise voice-AI technology, announced on Tuesday that it has secured $50 million in a Series B funding round aimed at expanding its voice-agent infrastructure. The round was led by Peak XV, with investments from M12 (Microsoft’s Venture Fund), Kleiner Perkins, Bessemer Venture Partners, and previous investors. This round increases Vapi’s total funding to $72 million.

      The company indicates that its voice agents have managed over one billion calls so far, serving more than one million developers and yielding 2.7 million unique agents on its platform. Vapi has reportedly increased its enterprise annual recurring revenue tenfold since the last funding round.

      Prominent enterprise customers include Amazon Ring, Kavak, Instawork, New York Life, UnityAI, Cherry, and Intuit. Amazon Ring utilizes Vapi for managing incoming customer support calls regarding its smart-home security products. Jason Mitura, vice president of software development at Ring, mentioned that they evaluated numerous vendors before selecting Vapi.

      “We transitioned from zero to production in just two weeks, and now 100% of our inbound call volume is processed through Vapi,” Mitura noted, emphasizing the improvement in customer satisfaction scores post-deployment.

      The platform is API-native and aims to empower teams to build, deploy, and manage voice agents without requiring engineering assistance for configuring agent behaviors. Vapi enables functionalities like inbound customer service, outbound collections, candidate screening, sales-training simulations, and seamless navigation through third-party IVR systems.

      The company has noted particularly strong growth in sectors such as financial services, healthcare, insurance, automotive, and workforce management.

      Co-founders Jordan Dearsley and Nikhil Gupta, who initially met at the University of Waterloo, previously collaborated on a Y Combinator-supported calendar project. Vapi originated in mid-2023 when Dearsley created a voice-based AI walking companion; although it didn’t succeed, the latency-optimized infrastructure developed became the foundation for Vapi, which officially launched on Product Hunt in March 2024.

      Arnav Sahu, a partner at Peak XV, shared the reasoning behind their investment. “Vapi has created a unique self-serve offering for developers and enterprises amidst the vast voice-AI transformation,” Sahu stated. “In the next decade, it’s probable that most calls will be handled without human intervention. With its bottom-up, product-led growth approach, we believe Vapi could become the equivalent of Zapier and N8N for voice-AI workflows.”

      In the announcement, Dearsley emphasized the company’s commitment to delivering production-quality customer outcomes rather than mere chatbot-style automation. “For many businesses, years of effort have only degraded their customer experience,” Dearsley remarked. “Vapi offers teams a platform to implement voice agents that effectively address customer needs, impacting millions daily.”

      Vapi referenced industry forecasts that projected nearly $3 trillion in global sales could be jeopardized by inadequate customer experiences by 2026, highlighting a 2% decline in customer satisfaction scores since 2022 as a context for its enterprise success. The firm also indicated that the upcoming phase of its product roadmap will prioritize uptime guarantees, predictable latency during peak loads, call-level monitoring, safety measures to keep agents within specified limits, and pathways for escalating to human operators.