Vapi raises $50m Series B led by Peak XV for enterprise voice AI

Peak XV leads. M12, Kleiner Perkins, and Bessemer Venture Partners join; earlier investors return. Amazon Ring, Intuit, and New York Life are named enterprise customers; total funding now stands at $72m.

Vapi, the San Francisco-based enterprise voice-AI platform, has raised $50m in a Series B round to scale its voice-agent infrastructure, the company said on Tuesday.

The round was led by Peak XV, with participation from M12 (Microsoft’s Venture Fund), Kleiner Perkins, Bessemer Venture Partners, and earlier investors. The investment brings Vapi’s total funding to $72m.

Vapi reports that its voice agents have handled more than one billion calls to date, with over one million developers and 2.7 million unique agents built on the platform. The company said it has grown its enterprise annual recurring revenue tenfold since the prior round.

Named enterprise customers include Amazon Ring, Kavak, Instawork, New York Life, UnityAI, Cherry, and Intuit. Amazon Ring uses Vapi to handle inbound customer support calls about its smart-home security devices. Jason Mitura, vice-president of software development at Ring, said in a statement that the company evaluated dozens of vendors before selecting Vapi.

“We went from zero to production in two weeks, and 100% of our inbound volume now runs through Vapi,” Mitura said, adding that customer-satisfaction scores improved following deployment.

The platform is API-native and designed to let teams build, deploy, and manage voice agents without engineering involvement in the configuration of the agent’s behaviour.

Vapi supports inbound customer service, outbound collections, candidate screening, sales-coaching 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 built a Y Combinator-backed calendar product together.

Vapi began in mid-2023 when Dearsley wired together a voice-based AI walking companion; the product itself did not take off, but the underlying latency-optimised infrastructure became the basis for Vapi, which launched publicly on Product Hunt in March 2024.

Arnav Sahu, partner at Peak XV, framed the investment thesis in a statement. “Vapi has built a differentiated self-serve product for developers and enterprises in the massive voice-AI revolution,” Sahu said.

“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 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, only to make their customer experience worse,” Dearsley said. “Vapi gives teams the platform to deploy voice agents that actually solve problems for customers, millions of them, every day.”

Vapi cited industry estimates that nearly $3tn of global sales are at risk in 2026 from poor customer experience, and pointed to a 2% drop in customer-satisfaction scores since 2022 as the backdrop to its enterprise traction.

The company said the next phase of its product roadmap will focus on uptime guarantees, predictable latency under load, call-level monitoring, guardrails to keep agents within defined boundaries, and escalation paths to human operators.