AI voice infrastructure startup Vapi closed a $50 million Series B round in May 2026 at a valuation of approximately $500 million, after Amazon Ring chose its platform over more than 40 competing vendors to handle all inbound customer-support calls.
The round was led by Peak XV Partners, with participation from Microsoft’s M12, Kleiner Perkins, and Bessemer Venture Partners, bringing Vapi’s total funding to $72 million. The company is currently generating annual recurring revenue in the eight figures, according to an investor source.
Amazon Ring turned to Vapi in mid-Q4 2025, when it was weighing how to manage a surge in customer-support calls during the holiday season. Ring evaluated more than 40 AI voice vendors before selecting Vapi, and now routes 100% of its inbound calls through the platform. Jason Mitura, vice president of software development at Amazon Ring, said customer satisfaction scores improved following the deployment and that teams could adjust the AI agent experience without relying on engineering. “A lot of AI tools promise great outcomes — Vapi has delivered on them,” he said.
Vapi was founded by Jordan Dearsley and Nikhil Gupta, classmates at the University of Waterloo who previously went through Y Combinator with a productivity startup called Superpowered. Dearsley built an early AI therapist product in 2023, but the pair pivoted after finding that other startups were more interested in the underlying low-latency voice infrastructure. Vapi launched publicly in 2024.
The platform provides tools for building, deploying, and managing voice agents for customer support, lead qualification, appointment scheduling, and outbound sales. Vapi says it has handled more than one billion calls to date and currently processes between one million and five million calls per day. Enterprise customers include Kavak, Instawork, New York Life, Intuit, and others. More than one million developers have used its self-serve platform.
Vapi, which has around 100 employees, plans to use the new funding to expand its engineering, infrastructure, and go-to-market teams. Dearsley said the company focuses on the infrastructure and orchestration layer behind voice agents, particularly for enterprises that require control over reliability, compliance, and model behavior.
Source: TechCrunch