Voice AI startup Vapi secures $20m to accelerate growth, scale its real-time infrastructure

Vapi, a developer platform for deploying Voice AI agents, has raised $20 million in Series A funding, led by Bessemer Venture Partners with participation from Abstract Ventures, AI Grant, Y Combinator, Saga Ventures, and Michael Ovitz. This investment will enable the company to expand its engineering team, scale its infrastructure, and reach new enterprise customers.

Over the past six months, generative voice models have begun to achieve human-level performance, in some cases even passing ''the voice Turing test''. This advancement, coupled with the accessibility of voice models on consumer mobile devices, has spurred growing interest among enterprises aiming to automate business-to-customer interactions. However, deploying and scaling voice agents can require months, if not years, of specialized engineering. Vapi is helping enterprises overcome this challenge.

Vapi is on a mission to ''bend the arc of technology back to the human voice'' Vapi is building the infrastructure necessary to enable this voice-first future. Through its flexible API and developer platform, customers can scale to handle millions of calls using voice agents in a couple of weeks.

Recognizing that every business has its own unique workflows and integrations, Vapi takes a developer-first approach. It provides APIs for engineering teams to design custom conversation flows, integrate their CRMs and EHRs, and incorporate Vapi’s voice agents into existing enterprise telephony systems.

Jordan Dearsley, CEO of Vapi said, ''Consumer-facing companies run on voice. To scale their revenue, they need to scale their voice operations. But, people don’t scale. You can try using an IVR (interactive-voice responses) system, but they sound robotic, and people just smash zero until they can talk to a person. With generative voice models, it’s flexible like a human and it can scale to millions of calls.''

Since its launch, Vapi has experienced remarkable growth, scaling to millions in revenue within its first six months. The company has partnered with businesses across various industries - including finance, healthcare, and travel—demonstrating the versatility and effectiveness of its voice AI technology. A few of Vapi’s customers include Mindtickle, Luma Health, Ellipsis Health, and Gestionadora de Créditos.

Jordan Dearsley further says, ''Apple Intelligence and Google Gemini are poised to onboard 4 billion people to voice assistants that truly converse like humans. This marks a new beginning for voice as the world’s default interface. Consumers will want voice agents everywhere, and enterprises need a platform to deploy them. This funding will allow us to scale our team and infrastructure to meet the growing demand for AI voice agents.''

''Vapi is emerging as the leading developer platform for conversational voice agents, helping enterprises deploy agents that solve their unique business problems without having to worry about managing the underlying models and infrastructure,'' said Mike Droesch, partner at Bessemer Venture Partners. "We are impressed with their outstanding developer love, rapid growth, and focus on building a world-class product. We look forward to helping them continue to redefine how people interact with technology."

www.vapi.ai

Follow Marketing Report on LinkedIn