Subsidiaries of telecommunications firm NTT and internet and technology group Alphabet exited US-based video conferencing technology provider Highfive on Tuesday when it was acquired by enterprise communication software producer Dialpad.
Founded in 2012, Highfive has built a video conferencing software platform that incorporates web and audio conferencing in addition to meeting room tools. It will add video capabilities to Dialpad’s voice intelligence-based business communication platform.
The company had raised $77.4m in funding as of a $32m series C round in late 2018 led by NTT’s technology management services subsidiary, Dimension Data, and backed by Lightspeed Venture Partners, General Catalyst and Andreessen Horowitz.
Lightspeed had led a series B round the same size three years earlier, investing with Alphabet unit GV, Andreessen Horowitz, General Catalyst, SV Angel, Aaron Levie, Drew Houston, Marc Benioff and Shishir Mehrotra.
GV had originally invested in Highfive through a $13.5m series A round in 2013 that was led by General Catalyst and which also featured Andreessen Horowitz.
Dialpad CEO Craig Walker said: “Dialpad has always been grounded in the changing dynamic of how we work, and with the future of the office uncertain, companies of all sizes are looking for help with digital transformation strategies to adjust to all possible scenarios.
“Bringing on the team and technology from Highfive helps us deliver even greater call and meeting experiences, better business outcomes and improved [return on investment] for our valued customers and partners worldwide.”
