Deepgram has raised $130 million in Series C funding at a $1.3 billion valuation to expand its real-time Voice AI platform and support the growing demand for natural voice interactions at scale. The round was led by AVP, with participation from existing backers, including Alkeon, In-Q-Tel, Madrona, Tiger, Wing, Y Combinator, and funds managed by BlackRock, as well as new investors such as Alumni Ventures and Princeville Capital. Strategic participants included Twilio, ServiceNow Ventures, SAP, and Citi Ventures, with additional investment from the University of Michigan and Columbia University.
The company said the funding will support product development, international growth, and the ability to power billions of concurrent conversations with low latency and high accuracy for enterprise customers. Elizabeth de Saint-Aignan, General Partner at AVP, stated, “Much like Stripe delivered the API platform underpinning the payments economy, we believe Deepgram is poised to deliver the API platform underpinning the emerging trillion-dollar B2B Voice AI economy.”
Deepgram CEO and Co-Founder Scott Stephenson added, “As we rapidly approach a world where billions of simultaneous conversations are powered by Voice AI, enterprises and developers need real-time, reliable infrastructure capable of fully duplex, contextual conversations at scale – this is Deepgram.” The company also announced the acquisition of OfOne, whose technology now anchors Deepgram for Restaurants, and revealed plans to expand its patent portfolio and open a Voice AI Collaboration Hub in San Francisco.