Deepgram raises $130M at $1.3B valuation and buys a YC AI startup (techcrunch.com)

Deepgram, a leading voice AI provider, has secured $130 million in a Series C funding round, boosting its valuation to $1.3 billion. The investment, led by Alumni Ventures Partners, attracted both new and existing investors, reflecting increasing interest in voice AI technologies amid rising demand across sales, marketing, and customer support sectors. Deepgram characterizes itself as a pivotal player in enabling enterprises to enhance customer interactions while simultaneously reducing operational costs, positioning itself amidst a rapidly expanding voice AI market projected to reach $14-$20 billion by 2030. To leverage this funding, Deepgram plans to expand its global presence and enhance its offerings, particularly in the restaurant sector, by acquiring Y Combinator-backed OfOne, which specializes in voice AI solutions that boast over 93% accuracy in processing food orders. This acquisition aligns with Deepgram's strategy to improve user experiences with conversational AI, a venture CEO Scott Stephenson believes could transform how over 300 million Americans engage with voice technology. As the voice AI landscape evolves, Deepgram's advancements could redefine customer service and operational efficiency across various industries.