Shehub Arefin
Founder, Wave Runner
Wave Runner vs Retell AI
Wave Runner is a white-label voice AI platform for agencies at $999/mo + $0.10/min with no-code setup and unlimited agents. Retell AI is a developer-first platform with component pricing starting at $0.055/min base, landing at $0.13-$0.31/min all-in. Retell has no white-label and no multi-client management.
Retell AI has 4.8/5 on G2 (1,414 reviews) and 4.9/5 on Trustpilot (816 reviews). SOC 2 Type II and HIPAA compliance come included on every plan. No monthly subscription, just usage-based billing.
If you're running 20 clients without an engineering team, a developer-first platform creates problems that reviews don't mention.
Here's where each platform fits and where it doesn't.
What Is Retell AI?
Retell AI is a developer-first voice AI platform designed for building conversational agents. The pricing model is component-based, which means you're assembling your own stack from separate providers.
The cost breaks down like this:
- •Infrastructure (Retell): $0.055/min
- •Speech-to-text (Deepgram): ~$0.01/min
- •LLM (GPT-4o): ~$0.03-$0.05/min
- •Text-to-speech (ElevenLabs): ~$0.03-$0.10/min
- •Telephony (Twilio): ~$0.01-$0.05/min
That $0.055/min headline becomes $0.13-$0.31/min once everything is connected.
Retell is SOC 2 Type II certified with HIPAA compliance (BAA available), GDPR, and PCI. Compliance is included on all plans, not gated behind enterprise pricing.
Latency averages 620ms, with a sub-800ms SLA at p99. Premium LLMs can push response times to 1.5-2.5 seconds, but the base infrastructure is fast.
The SDK is documented, the GitHub is active, and the developer community is engaged. If you're building custom voice applications with engineering resources, the tooling is there.
What's missing for agencies: no white-label. No multi-client dashboard. No sub-accounts. No per-client reporting from a single login.
Sources: Retell AI pricing page, Retell AI G2 reviews, Retell AI Trustpilot
What Is Wave Runner?
Wave Runner is a white-label voice AI platform built for agencies, MSPs, BPOs, and VoIP providers. $999/mo platform fee + $0.10/min usage. That's it. No component stacking. No assembling providers.
What's included:
→ Full white-label (custom domain, your branding, your client never sees Wave Runner) → Unlimited workspaces and agents, no per-seat or per-agent fees → Multi-client dashboard, manage every client from one login → No-code setup, deploy a new client in under an hour → Sub-800ms latency on all calls → 13 native integrations: HighLevel, HubSpot, Twilio, Slack, Gmail, Cal.com, Google Sheets, Notion, Webhooks, HTTP Request, OpenAI, Gemini, Anthropic → Inbound + outbound calling → Live call transfer to human agents → RAG knowledge base per client → Multilanguage support → Per-client reporting, role-based access controls, client data isolation → Private Slack channel + dedicated account manager
The platform fee doesn't scale per client. Five clients or fifty, it's the same $999/mo. Per-client cost drops as you grow: 13 clients is ~$77/client, 20 clients is ~$50/client, 50 clients is ~$20/client (before per-minute usage).
Side-by-Side Comparison
| Feature | Wave Runner | Retell AI |
|---|---|---|
| Pricing | $999/mo + $0.10/min | $0.055/min base ($0.13-$0.31/min all-in) |
| Latency | Sub-800ms | 620ms avg, <800ms p99 SLA |
| White-label | Full (custom domain, branding) | None |
| Multi-client management | Yes (single dashboard) | None |
| Workspaces/agents | Unlimited | No concept of workspaces |
| Setup | No-code, under 1 hour | API-first, requires developers |
| Integrations | 13 native (HighLevel, HubSpot, etc.) | API-based (build your own) |
| Inbound + outbound | Both, no-code | Both, requires dev setup |
| Live call transfer | Built-in | Available via API |
| Knowledge base | RAG per client | Build your own |
| Compliance | Role-based access, data isolation, per-client reporting | SOC 2 Type II, HIPAA, GDPR, PCI |
| Per-client reporting | Built-in | Build your own |
| Support | Private Slack + dedicated AM | Discord + email (Slack on enterprise) |
| Best for | Agencies running multiple clients | Developer teams building custom voice apps |
Pricing: The Component Stack Problem
Retell's $0.055/min headline is the infrastructure fee only. Every other component is billed separately. Here's what a production agent actually costs:
| Component | Provider | Cost/min |
|---|---|---|
| Infrastructure | Retell | $0.055 |
| Speech-to-text | Deepgram | ~$0.01 |
| LLM | GPT-4o | ~$0.03-$0.05 |
| Text-to-speech | ElevenLabs | ~$0.03-$0.10 |
| Telephony | Twilio | ~$0.01-$0.05 |
| Total | $0.13-$0.31 |
The range depends on your provider choices. Cheaper TTS (like Cartesia) and smaller LLMs (like GPT-4o-mini) bring you closer to $0.13. Premium voices and larger models push toward $0.31.
Monthly cost at scale
| Monthly minutes | Wave Runner | Retell (low: $0.13) | Retell (mid: $0.20) | Retell (high: $0.31) |
|---|---|---|---|---|
| 1,000 | $1,099 | $130 | $200 | $310 |
| 5,000 | $1,499 | $650 | $1,000 | $1,550 |
| 10,000 | $1,999 | $1,300 | $2,000 | $3,100 |
| 20,000 | $2,999 | $2,600 | $4,000 | $6,200 |
At low volume, Retell is cheaper. No question. If you're running 1,000 minutes a month for a single client, Retell's cost advantage is significant.
But agencies don't run single clients.
Per-client math at 20 clients
An agency running 20 clients on Wave Runner pays $999/mo platform + usage. That's ~$50/client for the platform fee before per-minute costs.
An agency running 20 clients on Retell needs:
- •A developer to manage 20 separate agent configurations ($5,000-$10,000/mo for a competent voice AI engineer, part-time or contract)
- •A dashboard layer so you can actually see what's happening across clients (third-party wrapper like Call Supplai or VoiceAI Wrapper, adding cost and another vendor dependency)
- •A billing system to track per-client costs (custom-built, since Retell doesn't offer it)
- •White-label branding (doesn't exist on Retell, period)
Add the developer cost alone and Retell's total monthly expense for an agency operation exceeds Wave Runner at moderate volume. Add the dashboard layer and billing overhead, and the math stops working.
Revenue model gap
This is the structural problem. Retell has no white-label, so agencies can't resell voice AI under their own brand. You're a middleman pointing clients to Retell's infrastructure with zero brand equity.
On Wave Runner, you white-label the platform, set your own pricing (many agencies charge $500-$1,500/client/mo), and keep the margin. The platform fee is a fixed cost that gets more efficient with every client you add.
On Retell, voice AI is a cost center with no path to becoming a revenue line.
Latency
Retell reports 620ms average response time. The sub-800ms SLA at p99 means 99% of calls stay under that threshold.
The caveat: premium LLMs (GPT-4 Turbo, Claude 3.5 Sonnet) can push response times to 1.5-2.5 seconds. The infrastructure is fast, but your LLM choice creates the bottleneck. Smaller models stay fast. Bigger models add noticeable delay.
Wave Runner runs sub-800ms across all calls. Both platforms land in the same competitive range for real-world conversations. Retell has an edge on base infrastructure latency, but the gap narrows (and sometimes disappears) with production LLM configurations.
Neither platform will create the awkward "is anyone there?" pauses that kill caller trust. Both are competitive here.
White-Label and Multi-Client Management
Retell has neither.
No white-label branding. No sub-accounts. No per-client dashboard. No consolidated view across clients. No way to present voice AI as your agency's proprietary service.
Third-party wrappers exist. Call Supplai and similar tools sit on top of Retell to add dashboard and management layers. But that's another vendor, another monthly bill, another integration to maintain, and another point of failure. You're building the Franken-stack that agencies are trying to escape.
Wave Runner includes full white-label from day one. Custom domain, your logo, your color scheme. Per-client workspaces with isolated data, separate knowledge bases, and individual reporting. Your client logs into what looks and feels like your platform.
Without white-label, you can't price voice AI as your own service. You're reselling with no margin control and no brand equity.
Setup and Ease of Use
Retell is API-first. The documentation exists. The SDK is maintained. For developers, building a voice agent is possible.
For non-developers, it's a wall.
Every agent configuration requires code. Custom integrations need webhook handlers. Call flow changes go through deployment cycles. If your agency team is marketers and account managers (not engineers), every client change creates a dev ticket.
Wave Runner is no-code. New client onboarding takes under an hour. Call flows are configured through a visual interface. Integrations connect with credentials, not code. Your account managers can handle client setup without involving a developer.
The time cost matters at scale. An agency adding 3-4 new clients per month needs a deployment process that account managers can own. If every new client requires dev hours, your growth bottlenecks at your engineering capacity.
Compliance
Retell holds SOC 2 Type II, HIPAA (with BAA), GDPR, and PCI compliance. All included on every plan. No enterprise gate, no add-on fee. These are table-stakes certifications for regulated industries, and Retell has them.
Wave Runner provides role-based access controls, client data isolation, and per-client reporting. These are the operational compliance features agencies need for day-to-day client management.
If formal certifications are a hard requirement (your client's legal team requires a SOC 2 report), Retell has an advantage today. If your compliance needs are operational (keeping Client A's data separate from Client B's data, controlling who sees what), Wave Runner covers it.
When Retell AI Might Fit
SOC 2 Type II, HIPAA, GDPR, and PCI on all plans. Useful if your client's legal team requires a specific certification report.
Developer SDK with active GitHub. Requires engineering resources to use.
You choose your own STT, LLM, and TTS providers. That flexibility comes with the cost of managing multiple vendor relationships.
620ms average latency. Premium LLMs push real-world response times higher.
Pure usage-based pricing means zero cost in months with zero usage. Narrow fit for seasonal or project-based work.
4.8/5 on G2, 4.9/5 on Trustpilot. Most reviewers are developers building single-use-case applications, not agencies managing multiple clients.
Where Wave Runner Wins
Full custom branding from day one. Your domain, your logo, your client-facing experience.
Deploy new clients in under an hour without developer involvement.
Single dashboard for all clients. Per-client workspaces, analytics, and data isolation.
$999/mo + $0.10/min. No component stacking. No surprise bills from five different providers.
Direct Slack channel with a named human. Not Discord. Not a ticket queue.
White-label + fixed platform fee means agencies can set their own per-client pricing and keep the margin. The platform gets cheaper per client as you scale.
If you're an agency running multiple clients and you need to deploy, manage, and bill voice AI as your own service, Wave Runner was built for that workflow.
FAQ
Is Retell AI or Wave Runner cheaper?
At low volume (under 5,000 minutes/month), Retell's usage-only pricing is cheaper than Wave Runner's $999/mo platform fee. At scale, the math shifts. Retell's all-in cost of $0.13-$0.31/min plus the developer and dashboard overhead required for multi-client management pushes total agency costs above Wave Runner's flat-rate model.
Does Retell AI offer white-label?
No. Retell AI has no white-label option on any plan. Third-party wrappers like Call Supplai add dashboard layers on top of Retell, but native white-label branding (custom domain, your logo, your client-facing experience) is not available. Agencies that need to present voice AI as their own service need a platform with built-in white-label.
Do I need developers for Retell AI?
Yes. Retell is API-first. Basic agents can be configured through their interface, but production deployments with custom integrations, webhook handlers, and multi-step call flows require engineering resources. Agencies without in-house developers will need to hire or contract, which adds $5,000-$10,000/mo to the real cost of operating on Retell.
How does Retell AI's latency compare to Wave Runner?
Retell averages 620ms with a sub-800ms SLA at p99. Wave Runner runs sub-800ms across all calls. Both platforms deliver conversational response times that avoid awkward pauses. Retell has an edge on base infrastructure speed, but premium LLM choices can push Retell's real-world latency to 1.5-2.5 seconds.
What if I'm already on Retell AI?
If Retell is working for your use case (single client, dev team available, no white-label needed), there's no urgent reason to switch. If you're adding agency clients and hitting the multi-tenant wall (manual account management, no consolidated billing, no white-label), Wave Runner was designed for that transition. Most agencies migrating from developer-first platforms have their first client live on Wave Runner within a day.
The Bottom Line
Retell AI is a developer platform with compliance certifications and an active community. For technical teams building single-purpose voice applications, it works.
For agencies, the gaps are structural. No white-label. No multi-client dashboard. No way to deploy new clients without developer involvement. And a pricing model that gets more complex (not simpler) as you add clients.
Wave Runner was built for agencies from the ground up. One platform fee. White-label included. Multi-client management in a single dashboard. No-code deployment. Dedicated support.
If you're running an agency and evaluating voice AI platforms, book a discovery call to see the multi-client dashboard with your actual use case.