New York Life Ventures backs voice AI startup Vapi

New York Life Ventures announced an investment in Vapi , a San Francisco-based startup developing infrastructure for AI-powered voice agents, as part of the company’s $50 million Series B round led by Peak XV.

Other participants in the round included Microsoft’s M12, Kleiner Perkins, and Y Combinator. According to company data, Vapi has now raised over $70 million since its 2021 founding.

Founded in 2021, Vapi provides APIs and infrastructure that allow enterprises to deploy AI voice agents for customer interactions. The company says its platform supports millions of calls with low latency while offering features such as compliance controls, observability, human handoff capabilities, HIPAA support, and SOC 2 compliance.

According to New York Life Ventures, Vapi has handled more than one billion calls and has over one million developers on its platform. The insurer’s venture arm also cited strong enterprise growth, noting that Vapi increased enterprise revenue tenfold last year.

New York Life Ventures highlighted Amazon Ring as a customer, stating the company transitioned all inbound calls to Vapi within two weeks after evaluating multiple vendors.

Vapi employs around 170 people, according to LinkedIn data, representing approximately 78% year-over-year employee growth.