The AI voice startup Vapi has completed a $50 million Series B funding round, with Peak XV Partners leading the investment.

According to Data Beating monitoring, as reported by TechCrunch, during last year's holiday season, Amazon-owned Ring, faced with a surge in customer support calls, evaluated over 40 companies when selecting an AI voice provider and ultimately chose the startup Vapi to handle its inbound call operations. Today, Ring has onboarded 100% of its inbound calls to the Vapi platform.

According to sources familiar with the matter, this deployment helped Vapi secure a $50 million Series B funding round led by Peak XV Partners, valuing the company at approximately $500 million post-investment.

Vapi CEO Jordan Dearsley stated that Ring first engaged with Vapi in the middle of Q4 last year, at a time when Ring was weighing whether to expand call center capacity, rely more on traditional IVR systems, or deploy AI-powered agents capable of responding to customers more naturally. Dearsley believed that Ring chose Vapi because the platform allows Ring engineers to have fine-grained control over the AI agents' behavior in real customer interactions.