The company was valued at $1.2B in October 2020. Here are the top-line bullets you need to know.
Dialpad, a business communication platform, has raised $170M in a Series F round that drew participation from Amasia, Google Ventures, T-Mobile Ventures, ICONIQ Capital, Work-Bench, Section 32, and OMERS Growth Equity.
HOW’S THE COMPANY PERFORMING?
- San Francisco-based Dialpad provides business communication and customer engagement services to enterprises.
- The company’s platform integrates with apps like Google Apps for Work, Microsoft 365, and Salesforce, among others.
- Over 7,000 enterprises and millions of individuals use the platform. Motorola Solutions, Netflix, T-Mobile, Uber, and WeWork are included among its client base.
- Dialpad hit $100M in revenue in FY’20.
- The company acquired Kare Knowledgeware and Koopid in 2021. With the acquisitions, Dialpad plans to enhance the customer and agent experience with conversational AI, intelligent omnichannel support, and digital self-service.
- It has around 1000 employees.
- Dialpad has offices in the US, the UK, Australia, Japan, India, and Canada — it expanded into Australia, New Zealand, Japan, and the EMEA region this year.
WHY DOES THE MARKET MATTER?
- The global team collaboration software market is expected to reach a value of $26.5B by 2027, growing at a CAGR of 13.2%, according to Allied Market Research.
- Increasing administration and maintenance costs have contributed to growth in this market.
- The demand for this software has risen amid the Covid-induced shift to distributed/remote workforce models.