Transforming the way we work: Dialpad raises $170M at a $2.2B valuation

Dialpad has had quite a few “big days” in the last couple of months with new partnerships, Channel wins, an NBA sponsorship, and not one, but two acquisitions—and we’re about to add another big day to the list.

We just announced $170 million in funding led by ICONIQ Capital with participation from Amasia, GV, OMERS Growth Equity, Work-Bench, Section 32, and T-Mobile Ventures.

Our new valuation: $2.2 billion.

With this funding, we’ll invest in:

• The further development and application of Dialpad Ai, our native artificial intelligence (AI) throughout our unified platform

• Hiring even more top talent across data engineering, natural language processing, machine learning and customer-facing roles to support our rapid global growth

• And more...

“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,” says Craig Walker, our founder and CEO.

“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.”

A year (and a half) to remember

Over the past 18 months, Dialpad has:

• Hired 500+ new Dialers to double in size with more than 1,000 employees

• Expanded operations to 11 offices globally including locations in Australia, New Zealand, Japan, and EMEA

• Increased its customer count to more than 7,000 including T-Mobile, WeWork, Uber, Stripe, Splunk, PagerDuty, and Toast

Here are just a few more highlights:

• We expanded our C-suite to include chief officers for finance, marketing and human resources, technology and operations

• Partnerships with T-Mobile for Business to enhance work-from-anywhere collaboration

• More than two billion minutes of data analyzed establishing Dialpad Ai 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

What’s to come

There’s a massive market opportunity in front of Dialpad—and even though we have our fair share of siloed competitors in this space, we’ve already created true differentiation in the industry.

This funding will take Dialpad into that next phase of growth, while allowing us to focus on building the best possible product and team.

The wild thing is that we still haven’t really seen the true benefits of AI in the communications industry, but Dialpad is at the forefront of this research and our brilliant AI team is exploring ways to create more personalized and empathetic interactions every day.

(For example, we’re working on a new feature called Smart CSAT that can auto-score customer satisfaction post-call—which can provide a more holistic picture of customer satisfaction since many folks don’t take the time to fill out surveys. More on that soon...)