- Vapi raised $50 million in a Series B round led by Peak XV, bringing total funding to $72 million
- The company’s voice agents have already handled more than one billion calls across industries, including finance, healthcare, insurance, and automotive
- Customers such as Amazon Ring, Intuit, and New York Life use Vapi’s platform to automate and manage large-scale customer conversations
San-Francisco-based voice startup Vapi has secured $50 million in fresh funding to expand its platform for enterprise voice agents.
The Series B round was led by Peak XV, with participation from M12, Kleiner Perkins, and Bessemer Venture Partners. The latest investment takes the company’s total funding to $72 million.
The funding comes as Vapi experiences explosive growth in the enterprise market, with annual recurring revenue reportedly increasing tenfold. The company says its platform has now powered more than 1 billion calls, highlighting growing demand from businesses looking to modernise customer support and automate large volumes of conversations without sacrificing service quality.
The startup was founded by Jordan Dearsley and Nikhil Gupta in 2023, who built several products together, including a profitable Y Combinator-backed calendar startup. Dearsley experimented with a voice-based therapist for his daily walks, focusing heavily on reducing delays in phone conversations and connecting multiple models together. While the therapy app failed to gain traction, the infrastructure powering it showed strong commercial potential. Vapi later launched publicly on Product Hunt in March 2024.
Despite decades of investment in chatbots, IVR phone trees, automation tools and self-service portals, customer satisfaction scores have not improved. Since 2022, they have actually dropped by 2% and have not meaningfully moved since 2017.
“Most businesses have spent decades of time and effort, only to make their customer experience worse. The real unlock is building agents for your customers that feel human. Vapi gives teams the platform to deploy voice agents that actually solve problems for customers, millions of them, every day,” says Dearsley.
Its platform allows developers and enterprises to build, deploy, and manage voice agents through an API-first system that removes the complexity of telephony infrastructure. The technology is designed for low latency and high configurability, enabling businesses to customise conversations while scaling to millions of interactions.
The platform is already being used by companies including Amazon Ring, Kavak, Instawork, and Cherry. Ring, for example, uses Vapi to manage inbound support calls related to smart home devices and says customer satisfaction scores improved after deployment.
Vapi operates in an increasingly crowded voice automation market, competing with companies such as Retell AI, Bland AI, Five9, and Talkdesk. However, the company is positioning itself differently through its developer-first infrastructure, flexible model integrations, and focus on production-scale deployment rather than simple scripted automation.
“Vapi has built a differentiated self-serve product for developers and enterprises in the massive voiceAI revolution. In 10 years, it’s likely most calls will not have a human behind the phone. With its bottom-up, PLG approach, we believe Vapi is the next Zapier and N8N for voiceAI workflows. At Peak XV, we are investors in several developer and bottom-up companies like Supabase, Posthog, Better Auth and Clickhouse and believe Vapi has the potential to be the defining platform for voice AI. We are excited to partner with them,” says Arnav Sahu, partner at Peak XV.
Looking ahead, Vapi plans to focus heavily on reliability, governance, and monitoring tools as voice agents begin handling more sensitive and complex workflows. The company is building stronger safeguards, predictable uptime systems, and smoother escalation paths to human operators, aiming to make automated conversations feel as natural and dependable as speaking with a real person.