Deepgram Hits $1.3 Billion Valuation with $130 Million Series C Funding

Voice AI is no longer a futuristic promise—it's a $1.3 billion business reality. Deepgram just proved it by closing a massive $130 millionSeries C round led by AVP. According to TechCrunch, the round saw Participation from heavyweights like Twilio, SAP, and Y Combinator, signaling that the demand for enterprise-grade speech-to-text and text-to-speech technology is skyrocketing.

Deepgram Series C valuation 2026: Capitalizing on Market Pull

What makes this raise exceptional isn't just the amount—it's the context. CEO Scott Stephenson revealed that Deepgram was actually cashflow positive last year. "We weren't out looking for a raise," he said, noting that the capital will be used to accelerate global growth and support multiple languages. With over 1,300 organizations already using their APIs—including startups like Granola and Vapi—Deepgram is positioning itself as the critical infrastructure for the next generation of AI agents.

Targeting the $20 Billion Voice Market via Restaurants

Deepgram is doubling down on specific verticals, most notably the quick-service restaurant (QSR) sector. To fuel this, they've acquired Ofone, a YC-backed startup that boasts over 93% accuracy in automated order taking. While past experiments in the industry—like Taco Bell's—faced challenges with edge cases, Deepgram believes their low-latency models can provide the 'magical' experience needed to make voice AI mainstream for 300 million Americans.