THE funding The round was led by AVP, an investment firm that focuses on technology startups in North America and Europe, with participation from “new investors including Alumni Ventures, Capital of Princeville And Citi Venturesthe company said.
Existing donors, including World TigerMadrona and the CIA’s venture capital arm, In-Q-Tel also participated in the Series C financinghe adds.
San Francisco-based Deepgram provides businesses and developers with artificial intelligence models and infrastructure to build and run custom applications. AI voice agents that can hold real-time, contextual conversations at scale.
The fundraising comes as companies adopt AI agents in call centers and customer service in industries including retail, fintech and healthcare.
“Voice AI has become common over the past year. Anywhere there’s a text field or a click of a button, all of these products are working on adding voice, so there’s just this wave of demand,” Deepgram CEO and co-founder Scott Stephenson said in an interview with Reuters.
The company will use the funds to expand into new markets in Europe and the Asia-Pacific region, “increase the number of languages supported, and fund significant compute acquisitions and purchases,” Stephenson added.
Deepgram currently supports over 50 languages, according to its website.
The company also announced Tuesday that it has acquired OfOne, a voice AI platform for drive-thru, to expand its offerings to the restaurant industry. He did not provide details on the value of the transaction.
More than 1,300 organizations use voice AI functionality powered by Deepgram’s API platform, the company said. It powers conversational customer service AI platforms such as Decagon and Sierra, and counts NASA and Amazon Web Services among its customers.