Vapi, an AI voice platform startup, has achieved a $500 million valuation after securing a significant contract with Amazon's Ring division. The partnership involves migrating all of Ring's inbound customer support calls to Vapi's platform, following an evaluation of over 40 AI voice vendors. This endorsement has led to a successful $50 million Series B funding round led by Peak XV Partners, with participation from Microsoft’s M12, Kleiner Perkins, and Bessemer Venture Partners, bringing Vapi's total funding to $72 million. Vapi's platform currently processes between 1 million and 5 million calls daily, having surpassed 1 billion total calls handled. The company has experienced a tenfold growth in its enterprise business since early 2025. With a workforce of around 100 employees, Vapi plans to use the new capital to expand its engineering and go-to-market teams. The partnership with Ring, especially during the high-demand 2024 holiday season, has positioned Vapi as a key player in the competitive voice AI market, providing a scalable solution for enterprise-level customer interactions.