Dialpad, a US-based cloud communication platform developer backed by internet and technology conglomerate Alphabet, secured $50m on Tuesday in a series D round led by multi-family office Iconiq Capital.
Enterprise technology-focused venture capital fund Work-Bench and VC firms Andreessen Horowitz, Amasia, Scale Venture Partners and Section 32 also participated in the round.
Founded in 2011, Dialpad has developed a cloud-based platform that powers business phone systems, call centres and online conferencing.
Dialpad acquired TalkIQ in May 2018, rebranding the company’s speech recognition product as VoiceAI, and is in the process of integrating TalkIQ’s automated real-time speech recognition and natural language processing technologies into its platform.
The series D funding will support the further development of VoiceAI and strengthen Dialpad’s go-to-market strategy as it increases its headcount by 50% this year. Will Griffith, founding partner of Iconiq Capital, will join Dialpad’s board of directors.
Dialpad has now received a total of $120m in funding, having closed a $52m series C round in September 2017 at a reported $250m valuation after raising $17m from Alphabet subsidiary GV, Andreessen Horowitz, Amasia, Felicis Ventures and Section 32.
The round’s $35m first tranche was raised in 2015 from an Amasia-led consortium with contributions from GV, telecommunications and internet group SoftBank, Felicis Ventures, Andreessen Horowitz and Work-Bench.
GV initially provided $5m of series A capital for Dialpad in 2011 when it was still known as Firespotter Labs, before participating in a $15m series B round led by Andreessen Horowitz the following year.