SAN FRANCISCO, CA – December 12, 2024
Vapi, a developer-first platform specializing in deploying AI-powered voice agents, has raised $20 million in Series A funding. The round was led by Bessemer Venture Partners, with participation from Abstract Ventures, AI Grant, Y Combinator, Saga Ventures, and Michael Ovitz. This investment brings Vapi’s valuation to $130 million and positions the company to scale its infrastructure, expand its engineering team, and extend its reach into new enterprise markets.
Streamlining Voice AI for Enterprises
Founded in 2023 by Jordan Dearsley (CEO) and Nikhil Gupta (CTO), Vapi addresses a critical gap in the market by offering enterprises a streamlined approach to deploying voice AI agents. The platform enables businesses to build, test, and deploy conversational voice agents in weeks rather than months, integrating seamlessly with existing systems such as CRMs, EHRs, and telephony platforms.
Jordan Dearsley, CEO, explained:
“Consumer-facing businesses run on voice, yet scaling these operations has been fraught with inefficiencies. Vapi changes the game by combining the flexibility of generative voice AI with the scalability enterprises need, all while maintaining human-like interactions.”
Key Features and Achievements
• Developer-Centric Approach: Vapi’s API and SDKs allow engineering teams to design custom conversation flows, integrate seamlessly with enterprise systems, and deploy agents for real-time operations.
• Broad Applications: Vapi powers voice agents across industries, including finance, healthcare, and travel, serving clients such as Mindtickle, Luma Health, and Ellipsis Health.
• Rapid Growth: Within six months of launch, Vapi achieved millions in revenue, demonstrating its ability to address enterprise needs effectively.
Investor Confidence in Voice AI
Mike Droesch, Partner at Bessemer Venture Partners, stated:
“Vapi’s focus on building an intuitive, developer-first platform sets it apart in the competitive voice AI landscape. Their rapid growth and customer love reflect their ability to redefine how enterprises leverage voice technology.”
Byron Deeter, Partner at Bessemer, added:
“Voice agents are poised to become a core interface for enterprises across verticals. Vapi’s innovative platform is driving this transformation, enabling businesses to deploy voice solutions with unprecedented speed and scale.”
Pioneering a Voice-First Future
As AI voice models achieve near-human performance, Vapi aims to be the backbone for enterprises adopting this transformative technology. The company plans to enhance its infrastructure to handle increased demand and ensure compliance with healthcare-specific regulations like HIPAA.
According to Marcelo Oliveira, SVP of Engineering at Luma Health:
“Vapi’s platform is far ahead of the competition. Its mature capabilities allow us to deliver seamless voice solutions to our customers in record time.”
Dearsley emphasized Vapi’s long-term vision:
“Imagine a world where every consumer interaction, from healthcare appointments to financial consultations, is enhanced by empathetic, real-time voice agents. This is the future we’re building, one call at a time.”
For more information, visit Vapi.
Media Contact:
Press Office: Bilal Mahmood
Email: [email protected]
Phone: +44 (0) 771 400 7257
