AI-powered cloud contact centre and business phone provider, Dialpad, recently announced a successful round of Series E funding. The round, raising $100 million, highlights the strength of Dialpad’s business, and the rising demand for flexible work-anywhere solutions for communication. OMERS Growth Equity led this round of funding with support from existing investors like GV, Andreessen Horowitz, ICONIQ Capital, Work-Bench, Felicis Ventures, and Section 32.
Dialpad was the first contact centre and business communications provider to bring real-time native transcription, automated note-taking, voice analytics, and live sentiment to the market. With rising demand for remote collaboration, the business now stands out as a leader in its space. The new capital will help to accelerate Dialpad’s next-generation cloud communications and contact centre solutions. The funding will also support go-to-market efforts internationally and domestically.
Demand for Advanced Communications Grows
The new round of funding comes after significant growth for Dialpad, following COVID’s impact on the way we all work and communicate. CEO of Dialpad, Craig Walker, said that the company is seeing a massive increase for cloud tools, with users seeking a single solution for voice, messaging, and video. Today’s customers also want their platform to be smart, with automatic note-taking, real-time insights, and information on what’s happening in a meeting or call.
Dialpad has invested in natural language processing, voice analytics, and speech recognition for a system that works on any device. This new funding will help Dialpad to continue moving in the right direction.
The new round of funding follows a history of sensational product growth and development from Dialpad, including the purchase of Highfive which recently enhanced Dialpad’s video solutions for mobile devices. The Highfive acquisition also introduces meeting room hardware for more intuitive meetings in a hybrid or remote workforce. CIOs this year expect an increase in cloud conferencing investment of around 46.7% this year.
Consistent Growth for Dialpad
In the last year, Dialpad has achieved more than $100 million in committed ARR. The cloud contact centre business has grown faster than any other Dialpad product, and the company has recently expanded globally with new offices in Asia and Europe. Going forward, Dialpad plans to extend it’s global footprint further, and support more workforces in making the shift to a new way of work.
The OMERS Growth Equity Managing Director and Head, Mark Shulgan, said that the team is thrilled to be investing in Dialpad. OMERS is impressed by Dialpad’s leading solution in a market with plenty of opportunity for growth. Mark said that he believes cloud-based software and AI are only in the early stages of adoption, and Dialpad will play a significant role in the transformation of the landscape.
Backed by some of the most influential investors in Silicon Valley, Dialpad is quickly gaining steam as a communications platform that offers immersive and innovative experiences. Offering HD audio and video, native AI for voice analytics, and call coaching, and endless opportunities for growth, Dialpad is excited to be taking another step towards the goal of improving global communications.
