Dialpad Raises $170 Million And Increases Valuation To $2.2 Billion As It Leads New Era Of AI-Powered Communications

Growth capital financing to support innovations in AI, accessibility, and customer experience

Dialpad Inc., the industry leader in AI-powered cloud communications and collaboration, announced $170 million in funding. The amount raised and valuation of $2.2 billion reflects the increasing importance of a truly unified approach to business communications. To date, Dialpad has raised $418 million in capital.

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ICONIQ Capital leads the funding round which includes participation from Amasia, GV, OMERS Growth Equity, Work-Bench, Section 32, and T-Mobile Ventures. Dialpad will use this funding to invest in the further development and application of native artificial intelligence (AI) throughout its unified platform; hiring top talent across data engineering, natural language processing, machine learning and customer-facing roles to support its rapid global growth.

“Dialpad is the world’s most advanced AI-powered communications, collaboration, and contact center platform, providing a customer- and cloud-first solution that enables more efficient and effective conversations,” said Craig Walker, founder and CEO, Dialpad. “This latest round of funding, and increased valuation, showcases Dialpad’s continued momentum and strengthens our dedication to helping companies scale and enterprises thrive in today’s hybrid, work-from-anywhere world.”

“Dialpad is at the forefront of cloud-based, native AI communications, collaboration, and contact center solutions. ICONIQ Capital is proud to again invest in Dialpad’s vision to deliver streamlined communications combined with crucial data-driven insights all through one application,” said Will Griffith, Founding Partner, ICONIQ Capital. “As the creator of Google Voice, Craig Walker knows what it means to disrupt an entire category. Walker recognized the pain points consumers had communicating at scale in the cloud. Now, he is applying that same philosophy with Dialpad, extending it to the enterprise and is once again disrupting the status quo.”

Dialpad is the one place for truly unified Communications as a Service (TrueCaaS), offering companies and employees the ability to work smarter — not harder — from anywhere on any device. In today’s distributed world, teams need one seamless solution for productive collaboration that also avoids the growing phenomenon of “app overload”. Simple to deploy and backed up with Voice Intelligence (Vi) to create a searchable archive of every call, Dialpad delivers all modes of business communications through a single pane of glass.

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“Customer adoption of Dialpad’s AI-powered TrueCaaS platform is at an all time high and is accelerating,” said Mike Kourey, Chief Financial Officer, Dialpad. “This $170 million financing round further fuels our unparalleled innovation engine and global expansion, advancing Dialpad’s comprehensive vision for the future of work, business communications and collaboration, and customer experience.”

The funding round is the latest development in a year of significant milestones for Dialpad including growth, global expansion, partnerships and acquisitions.

• C-suite expansion to include chief officers for finance, marketing and human resources, technology and operations
• 50% headcount increase year-over-year to nearly 1,000 employees with expanded operations into Australia, New Zealand, Japan, and EMEA
• Acquisitions of Kare Knowledgeware and Koopid to elevate the customer and agent experience with digital self-service, conversational AI, and intelligent omnichannel support
• Partnerships with T-Mobile for Business to enhance work-from-anywhere collaboration
• More than two billion minutes of data analyzed establishing Dialpad Vi transcription model as most accurate in business communications industry
• Recognized as a Major Player in the 2021 IDC MarketScape, included in the Gartner Magic Quadrant for third consecutive year, the 2021 Contact Center Buyers Guide from Frost & Sullivan, and named a leader in the 2021 SPARK Matrix and multiple G2 categories
• Multi-year jersey patch sponsorship and official communications provider with the Sacramento Kings of the NBA which includes notable philanthropic initiatives

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