Vapi secures $20M to advance AI voice agent platform and scale operations - SiliconANGLE
Dec 13, 2024 - siliconangle.com
Vapi, a startup specializing in AI voice agents, has secured $20 million in Series A funding to expand its engineering team and infrastructure, aiming to attract more enterprise customers. Founded in 2023 as Superpowered Labs Inc., Vapi provides a developer platform for creating AI-powered voice agents, offering APIs for custom conversational flows and integration with systems like CRM and electronic health records. The platform supports both inbound and outbound call management, designed for scalability and capable of handling millions of concurrent calls using a Kubernetes-based architecture. It can be integrated with various platforms, including iOS and web applications, and offers features like function calling for tasks such as booking appointments. Vapi has seen significant growth, generating millions in revenue within six months, with customers like Y Combinator and Deepgram Inc.
The funding round was led by Bessemer Venture Partners, with participation from Abstract Ventures, AI Grant Inc., Y Combinator, Saga Ventures, and Michael Ovitz. Although not officially confirmed, the funding round reportedly values Vapi at $130 million. Bessemer Partner Mike Droesch highlighted Vapi's role as a leading platform for deploying conversational voice agents, allowing enterprises to focus on solving business problems without managing the underlying infrastructure.
Key takeaways:
Vapi, a voice artificial intelligence agent startup, has raised $20 million in Series A funding to expand its engineering team, infrastructure, and reach new enterprise customers.
The platform offers developers flexible APIs for creating custom conversational flows and integrating voice AI into existing systems, supporting applications like customer support and sales outreach.
Vapi's architecture is designed to scale, managing millions of concurrent calls using a Kubernetes-based system and a private internet backbone for high-performance voice AI solutions.
Notable investors in the funding round include Bessemer Venture Partners, Abstract Ventures, AI Grant Inc., and Y Combinator, with the company reportedly valued at $130 million.
