Dialpad Raises $100M at $1.2B Valuation, Goes All-in on AI-Powered Communications
High-Growth Startup Accelerates Cloud-Based Collaboration and Contact Center Capabilities with Series E Funding Round Led By OMERS Growth Equity
Dialpad, Inc., the AI-powered cloud business phone and contact center provider for modern businesses, announced $100 million in Series E funding. The round reflects the strength of both Dialpad’s business and the strategic role that best-in-class work from anywhere communications tools are playing for businesses worldwide. OMERS Growth Equity led the round, with participation from existing investors including Andreessen Horowitz, GV, ICONIQ Capital, Felicis Ventures, Section 32 and Work-Bench. In total, Dialpad has raised $220 million, and the valuation over $1.2B demonstrates its leadership position in the Unified Communications as a Service (UCaaS) and Contact Center as a Service (CCaaS) marketplace and solidifies the role of, and need for, AI-powered insights on all calls as a strategic differentiator for businesses of all sizes.
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Dialpad was the first business communications and contact center provider to bring native, real-time transcription, automated note-taking, live sentiment and voice analytics to market, and with the rising demand for remote collaboration, the company has grown as a leader in the space. The additional capital will be used to continue to accelerate Dialpad’s innovation and lead in building the next generation cloud phone system and contact center while expanding go-to-market activities domestically and internationally. The raise comes after significant growth, with COVID effects accelerating migration to the cloud for telephony and contact center solutions.
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“We have seen a huge increase in demand for cloud communications tools, and we are raising additional capital to meet this demand,” said Craig Walker, CEO of Dialpad. “Users want a single platform to handle voice, video and messaging. They also want that platform to be smart; to do things like automate note-taking and provide real-time insights and answers in response to what’s happening on a call or meeting. We have invested in real-time speech recognition, natural language processing and voice analytics on a system that works anywhere, on any device. Our goal has always been to empower the future of work, and we are thrilled to join the OMERS Growth Equity portfolio and to continue to innovate.”
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