Dialpad, the US-based business VoIP, video and contact-center service provider has announced $100 million in E Series financing. The funding phase was led by OMERS Growth Equity, Andreessen Horowitz, GV, ICONIQ Capital, Felicis Ventures, Section 32 and Work-Bench.
As claimed by the company, its value now exceeds $1.2 billion, based on the $245 million that it has raised up till now. The new funding will focus on Dialpad innovations and support expanded market strategies.
The $1.2 billion evaluation comes as no surprise, as the demand in the market is growing. The company says its annual revenue figure now exceeds $100 million. In addition, Dialpad has recently focused on its artificial intelligence solutions. In 2018, the company launched its VoiceAI service and now provides many AI solutions as part of its voice intelligence service. The services include automated note taking, real-time transcription and voice analytics.
Moreover, the news of this financing comes just weeks after the company announced the acquisition of Highfive, the American video conferencing service provider, that increased Dialpad’s support of mobile video and conference room equipment.
Craig Walker, CEO of Dialpad, commented: “We have seen a huge increase in demand for cloud communications tools, and we are raising additional capital to meet this demand. 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 is 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.”