Vapi secures $50M Series B from Peak XV for enterprise voice AI

Peak XV leads a $50 million Series B for Vapi, with M12, Kleiner Perkins, and Bessemer Venture Partners joining the round. Earlier investors also returned. Amazon Ring, Intuit, and New York Life are among the named enterprise customers, pushing total funding to $72 million.

San Francisco-based Vapi, an enterprise voice-AI platform, has secured $50 million in a Series B round to expand its voice-agent infrastructure. The company announced the funding on Tuesday, led by Peak XV with participation from M12 (Microsoft’s Venture Fund), Kleiner Perkins, Bessemer Venture Partners, and previous backers. This latest injection brings Vapi’s cumulative funding to $72 million.

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

Enterprise customers include Amazon Ring, Kavak, Instawork, New York Life, UnityAI, Cherry, and Intuit. Amazon Ring uses Vapi to manage inbound customer support calls for its smart-home security devices. Jason Mitura, vice-president of software development at Ring, stated that the company evaluated dozens of vendors before choosing Vapi. “We went from zero to production in two weeks, and 100% of our inbound volume now runs through Vapi,” Mitura said, noting that customer-satisfaction scores improved after deployment.

The platform is API-native, allowing teams to build, deploy, and manage voice agents without engineering involvement in configuring the agent’s behavior. 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; that product did not take off, but the underlying latency-optimized infrastructure became the foundation 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 emphasized 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 $3 trillion 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.