AI startup Vapi valued at $500 million

Amazon Ring evaluated over 40 artificial intelligence (AI) providers to manage the influx of customer support calls during last year's holiday season, ultimately choosing the startup Vapi. Currently, all of Ring's incoming calls are processed through the Vapi platform. This is reported by Techcrunch.com reports .

This partnership allowed Vapi to raise $50 million in funding led by Peak XV Partners, bringing the company's total valuation to $500 million. Amazon Ring representative Jason Mitura noted that customer satisfaction scores have increased significantly since the implementation of the Vapi platform.

Vapi founders Jordan Dearsley and Nikhil Gupta initially created an AI-based therapeutic service in 2023. However, noticing high user interest in low-latency voice infrastructure, they pivoted their operations and launched the platform publicly in 2024.

Today, the Vapi platform processes between 1 million and 5 million calls per day. The startup's services are used by major companies such as Kavak, Instawork, New York Life, and Intuit. With this funding round, which also included Microsoft's M12 fund, Vapi's total funding has reached $72 million.