Dialpad’s new funding round gives its a $2.2B valuation

Dialpad, the 10 year-old cloud communications and collaboration platform, has raised another $170 million, the company announced Thursday. The Series F funding round brings its valuation to $2.2 billion — nearly double what it was after its Series E round last year. 

ICONIQ Capital led the funding round, with participation from Amasia, GV, OMERS Growth Equity, Work-Bench, Section 32, and T-Mobile Ventures.

All told, Dialpad has now aised $418 million in capital. Its momentum reflects the growing relevance of unified communications platforms as organizations seek to accommodate hybrid workforces. Up against competitors like Five9 and RingCentral, Dialpad offers AI-powered communications, collaboration and contact center tools on one unified platform. 

The company plans to use its new funding to further develop AI capabilities and to build up its teams in data engineering, natural language processing and machine learning. It also plans to add more customer-facing roles to support its global growth.

“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,” CEO Craig Walker said in a statement.