Vapi raises USD $50 million as calls pass 1 billion

Vapi has raised USD $50 million in a Series B funding round and has now handled more than 1 billion calls through its voice AI agents.

The round was led by Peak XV, with participation from M12, Microsoft's Venture Fund, Kleiner Perkins, Bessemer Venture Partners and earlier backers. The new financing brings Vapi's total funding to USD $72 million.

Based in San Francisco, Vapi sells a voice AI platform that businesses use to build, deploy and manage automated phone agents. Its customers include Amazon Ring, New York Life, Intuit, Kavak and ServiceTitan.

Vapi recorded tenfold growth in annual recurring revenue in its enterprise segment, with strongest demand in financial services, healthcare, insurance, automotive and workforce management.

The funding comes as companies continue investing in customer service tools while satisfaction remains under pressure. Vapi cited industry data showing satisfaction scores have fallen 2% since 2022 and changed little since 2017, while nearly USD $3 trillion in global sales is projected to be at risk from poor customer experiences.

Customer service focus

Voice remains a key channel for many support and service operations, especially when customers want issues resolved quickly. Vapi argues that many existing systems still rely on fixed phone trees and scripted workflows that struggle with more complex requests.

Its platform is used for inbound customer service, outbound collections, candidate screening, sales coaching through simulated dialogue and automated IVR navigation. Customers use it to replace or supplement contact centres, automate high-volume qualification workflows and navigate third-party payer systems without human involvement.

Amazon Ring is among the company's reference customers. The smart home business uses the platform for inbound customer enquiries about security devices.

"When [Amazon] Ring customers call in, they expect fast, high-quality support," said Jason Mitura, Vice President of Software Development at Amazon Ring. "After evaluating dozens of vendors, Vapi stood out. We went from zero to production in two weeks, and 100% of our inbound volume now runs through the Vapi. Most importantly, we've maintained our high bar of support for our customers and CSAT scores have improved. Vapi gives our teams the ability to tune the agent experience without depending on engineering. A lot of AI tools promise great outcomes - Vapi has delivered on them."

Developer base

Vapi now has more than 1 million developers using its platform, with more than 2.7 million unique agents created. Those figures suggest broad experimentation and deployment beyond a small group of large corporate users.

The company describes its product as API-native and aimed at both developers and enterprise teams. It is designed to move customers from prototype to production in days rather than months, while letting them switch between different models and providers.

That positioning has helped attract investors focused on developer-led software adoption. Peak XV linked its investment to a broader shift in how businesses may handle phone-based interactions over the coming decade.

"Vapi has built a differentiated self-serve product for developers and enterprises in the massive voiceAI revolution," said Arnav Sahu, Partner at Peak XV. "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."

Origins and next steps

Vapi was founded by Jordan Dearsley and Nikhil Gupta, who began building products together after meeting at the University of Waterloo. The company grew out of infrastructure developed for an earlier voice-based AI therapist project before launching publicly in 2024.

Its next focus is reliability and control as automated agents are used in more sensitive workflows. Enterprise users increasingly want stronger uptime assurances, predictable latency under load, clearer guardrails and better escalation to human staff when needed.

Dearsley said that reflects a response to longstanding weaknesses in customer experience systems.

"Most businesses have spent decades of time and effort, only to make their customer experience worse," said Jordan Dearsley, Chief Executive Officer and Co-Founder of Vapi. "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."