Vapi Raises $50M Series B Led by Peak XV, Hits $500M Valuation Powering Amazon Ring's AI Calls

San Francisco-based voice AI startup Vapi has raised a $50 million Series B funding round.

The investment was led by Peak XV, with participation from M12, Kleiner Perkins, Bessemer Venture Partners, and Y Combinator.

Explosive Growth and Major Wins

Vapi's platform has now processed over 1 billion calls, including 100% of inbound customer calls for Amazon Ring.

Other enterprise clients like Intuit, Kavak, and New York Life contribute to a 10x surge in annual recurring revenue.

The company reportedly reached a $500 million post-money valuation, bringing total funding to $72 million.

From YC Pivot to Voice AI Leader

Founded by University of Waterloo alumni Jordan Dearsley and Nikhil Gupta, Vapi emerged from a Y Combinator-backed productivity app pivot in 2024.

Starting with a self-serve model for over 1 million developers, Vapi battle-tested its tech before landing big enterprise deals.

Why Voice AI Matters Now

Unlike text chatbots, voice AI handles natural conversations, slashing wait times in customer service—a pain point for everyday consumers.

Peak XV's bet highlights Asia's VCs eyeing U.S. AI infrastructure amid the agentic AI boom.

Competitors like Sierra and Retell face off as Vapi focuses on taming unpredictable language models for reliable enterprise use.

With fresh capital, Vapi plans to scale engineering and sales, potentially reshaping how businesses interact with customers globally.

For the average person, this means smarter phone support without endless hold music or frustrating IVR menus.