Voice AI engine and OpenAI partner LiveKit hits $1B valuation

LiveKit, a company specializing in real-time AI voice and video infrastructure software, has successfully raised $100 million, bringing its valuation to an impressive $1 billion. This funding round, which follows just ten months after their last capital infusion, was spearheaded by Index Ventures, with contributions from notable existing investors such as Altimeter Capital Management, Hanabi Capital, and Redpoint Ventures. The technology behind LiveKit is utilized in OpenAI's ChatGPT voice feature, showcasing its significance in the AI landscape. Additionally, the startup caters to a diverse clientele that includes xAI, Salesforce, and Tesla, as well as crucial services like 911 emergency response and mental health providers. Founded in 2021 by Russ d’Sa and David Zhao, LiveKit initially emerged as an open-source software project designed to facilitate real-time audio and video transmission. The company gained traction during the pandemic when remote meetings surged in popularity. Although it began as a free tool for developers, LiveKit's fortunes changed dramatically when the founders recognized the demand for a managed cloud service among larger enterprises, leading them to pivot their strategy amid the booming voice AI sector.