Dialpad Revenue, Valuation, Funding & Investors
Dialpad is valued at $2.3B as of December 2022, a 18.0x multiple on its last reported $125M revenue.
Last Dialpad valuation
$2.3B
Series F · Dec 2022
Last Dialpad funding round
$50M
Series F · Dec 2022
Dialpad revenue
$125M
Series F · Dec 2022
Key investors in Dialpad
Amasia
Andreessen Horowitz
GV
ICONIQ Capital
S32
Work-Bench
About Dialpad
Dialpad is a San Francisco-headquartered AI communications platform offering cloud phone systems, contact centers, and sales tools powered by VoiceAI for real-time transcription and sentiment analysis. Founded in 2011, it serves over 25,000 organizations including Okta and Garry's Mod with Dialpad Sell for coaching, UberConference for meetings, and integrations across 300 apps for voice, video, SMS, and messaging.
Founded
2011
HQ
San Francisco, CAWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Revenue
$125M (Dec 2022)
Valuation
$2.3B (Dec 2022)
Dialpad Valuation
Dialpad is currently valued at $2.3B, based on its Series F in December 2022.
Dialpad's valuation has grown 1.9x from $1.2B at its Series E in October 2020 to $2.3B in December 2022, across 4 priced rounds.
Dialpad valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Dec 2022 | Series F | $2.3B | 18.0x |
| Dec 2021 | Series F | $2.2B | 22.0x |
| Dec 2020 | Series E | $1.2B | 4.0x |
| Oct 2020 | Series E | $1.2B | 12.0x |
Dialpad Revenue
Dialpad's latest recorded revenue is $125M, as of its Series F in December 2022. At a $2.3B valuation, that implies a 18.0x revenue multiple.
Revenue grew from $100M in October 2020 to $125M in December 2022, while the revenue multiple moved from 12.0x to 18.0x.
Dialpad revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Dec 2022 | $125M | $2.3B | 18.0x | Series F |
| Dec 2021 | $100M | $2.2B | 22.0x | Series F |
| Dec 2020 | $300M | $1.2B | 4.0x | Series E |
| Oct 2020 | $100M | $1.2B | 12.0x | Series E |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Dialpad Funding History
Dialpad has raised a total of $432M across 7 funding rounds.
Dialpad's first fundraising round was a $35M Series C in May 2015. The most recent completed round was a $50M Series F in December 2022.
Dialpad funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Dec 2022 | Series F | - | $50M | $2.3B | Dialpad is a cloud communications startup based in San Ramon, California, offering AI-powered tools for sales, customer service, messaging, voice, video, and text in a unified app known as TrueCaaS. Founded in 2011 by Craig Walker and others, it has partnerships with Uber, Stripe, WeWork, and T-Mobile, plus an NBA sponsorship with the Sacramento Kings. By late 2021, Dialpad had raised $418 million total and was scaling with plans for acquisitions to enhance AI technology, while hiring a CFO to prepare for a potential IPO in the back half of 2022. In December 2021, Dialpad raised $170 million in a Series F round led by ICONIQ Capital, with GV, T-Mobile Ventures, OMERS Growth Equity, Amasia, Work-Bench, and Section 32 participating, reaching a $2.2 billion valuation, nearly doubling from $1.22 billion after a prior $125 million round. The CEO stated the company was on track for more than $125 million in annual recurring revenue at that time. Funds were earmarked for AI development, hiring in data engineering, NLP, machine learning, and customer roles to fuel global growth amid hybrid work trends. Key investors across rounds include Google Ventures (GV), ICONIQ Growth, SoftBank, Andreessen Horowitz, and OMERS. The platform differentiates with Voice Intelligence for call archiving and analysis, claiming over two billion minutes of data analyzed for industry-leading accuracy in business communications transcription. Dialpad continued milestones like C-suite expansions, global partnerships, and acquisitions, positioning in a large market against siloed competitors in cloud communications and contact centers. |
| Dec 2021 | Series F | ICONIQ Capital (lead); GV; YTWO; Work-Bench; S32; T-Mobile Ventures; OMERS Growth Equity; Amasia; Empede Capital | $170M | $2.2B | Dialpad Inc. is a San Francisco-based provider of AI-powered cloud communications and collaboration platforms, offering unified business phone systems, team messaging, video meetings, and advanced contact center solutions integrated with apps like Google Workspace, Microsoft 365, and Salesforce. Founded by Craig Walker, previously of Google Voice, Dialpad serves over 7,000 enterprises including Motorola Solutions, Netflix, Uber, and WeWork, with around 1,000 employees across offices in the US, UK, Australia, Japan, India, Canada, and plans for further international expansion. On December 16, 2021, Dialpad announced a $170 million Series F funding round led by ICONIQ Capital (also referenced as ICONIQ Growth), with participation from Amasia, GV (Google Ventures), OMERS Growth Equity, Section 32 (S32), T-Mobile Ventures, Work-Bench, and others including YTWO. The round increased the company's post-money valuation to $2.2 billion, bringing total capital raised to $418 million. Previously valued at $1.2 billion in October 2020, this funding reflected strong momentum in AI-native communications amid hybrid work trends. Proceeds were earmarked for advancing native AI capabilities in natural language processing, machine learning, and data engineering; hiring across customer-facing and technical roles; global expansion into regions like UK, Japan, Australia, and New Zealand; and pursuing strategic M&A opportunities such as the 2021 acquisitions of Kare Knowledgeware and Koopid to bolster conversational AI and omnichannel support. Dialpad reported $100 million in revenue for FY'20, underscoring its traction in the growing team collaboration software market projected to reach $26.5 billion by 2027 at a 13.2% CAGR. |
| Dec 2020 | Series E | SoftBank Group (lead); ICONIQ Capital; DoubleRock | $10M | $1.2B | Dialpad is an AI-powered cloud communications platform offering unified voice, video, messaging, and contact center solutions for businesses. The platform features Voice Intelligence capabilities including real-time transcription, automated note-taking, sentiment analysis, and call coaching to help remote workers and contact center agents optimize productivity. In October 2020, Dialpad raised a $100 million Series E round led by OMERS Growth Equity at a $1.2 billion post-money valuation. Two months later, in December 2020, SoftBank Corp. participated in the Series E with an additional $10 million investment, bringing total Series E capital to $110 million. The SoftBank investment deepened the companies' existing four-year strategic partnership and was designated to accelerate business growth in Japan and the Asia Pacific region, where Dialpad planned to double its engineering and sales team. By the time of the SoftBank investment in December 2020, Dialpad had raised a cumulative $250 million across all funding rounds and served more than 70,000 customers including enterprises like Netflix, Uber, Motorola Solutions, and WeWork. The company had grown headcount to over 500 employees and was expanding its AI capabilities across the platform as remote work adoption accelerated due to the COVID-19 pandemic. |
| Oct 2020 | Series E | OMERS Growth Equity (lead); ICONIQ Capital; GV; Work-Bench; Felicis; S32; G Squared; Andreessen Horowitz; Cerity Partners Ventures; DHVC; Amasia | $100M | $1.2B | Dialpad is an AI-powered cloud communications platform offering unified communications as a service (UCaaS) and contact center as a service (CCaaS), featuring real-time speech recognition, natural language processing, voice analytics, automated note-taking, and insights for voice, video, and messaging. In October 2020, Dialpad raised $100 million in a Series E funding round led by OMERS Growth Equity, with participation from Andreessen Horowitz, GV (Google Ventures), ICONIQ Capital, Felicis Ventures, Section 32, and Work-Bench, bringing total funding to $245 million at a post-money valuation over $1.2 billion. The round was advised by BofA Securities, and Mark Shulgan from OMERS Growth Equity joined the board. At the time of the round, Dialpad reported an annual run rate exceeding $100 million, supported by over 70,000 customers including Uber, Motorola Solutions, Domo, and Xero, and a workforce of 500 employees. The funding aimed to accelerate investment in AI-powered communications amid growing adoption of cloud-based software and AI. Shortly after, SoftBank added $10 million to the round in December 2020, increasing total raised to $250 million while maintaining the $1.2 billion valuation, to expand in Japan and APAC leveraging their strategic partnership. Dialpad positioned itself as a leader in a high-growth market for AI-driven business communications, differentiating through native AI integration across its platform. Subsequent developments included a $170 million raise in a later round at $2.2 billion valuation led by ICONIQ Capital with some overlapping investors, focusing on AI enhancement, hiring in data engineering and machine learning, and global expansion. |
| Jul 2018 | Series D | ICONIQ Capital (lead); Scale Venture Partners; Work-Bench; S32; Andreessen Horowitz; Amasia | $50M | - | - |
| Sep 2017 | Series C | GV; Felicis; S32; Andreessen Horowitz; Amasia | $17M | - | Dialpad raised an additional $17 million in a Series C follow-on round in September 2017, with participation from Section 32, bringing total investment to $70 million. The funding supported expansion, including adding depth to the executive bench and hiring for over 50 new positions. During 2017, Dialpad launched Dialpad Free to eliminate phone bills for small businesses and saw UberConference surpass 1.5 million subscribers. The company also integrated with G Suite and Okta, and was ranked No. 222 on Deloitte’s Technology Fast 500. Dialpad positioned itself as the fastest growing company in the $50 billion unified communications market under new Chief Revenue Officer Richard Rivera. |
| May 2015 | Series C | Amasia (lead); GV; SoftBank Group; Work-Bench; Felicis; Andreessen Horowitz; Flight Ventures | $35M | - | - |
Who has invested in Dialpad?
18 investors have backed Dialpad across its funding rounds, including Amasia, Andreessen Horowitz, GV, ICONIQ Capital, S32 and Work-Bench.
Lead investors include ICONIQ Capital, SoftBank Group, OMERS Growth Equity and Amasia.
Dialpad Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| San Francisco, CA | 5 | Lead | May 2015 | |
| San Francisco, CA | 4 | Lead | Jul 2018 | |
| San Francisco, CA | 4 | Participant | May 2015 | |
| New York City, NY | 4 | Participant | May 2015 | |
| San Diego, CA | 4 | Participant | Sep 2017 | |
| San Francisco, CA | 4 | Participant | May 2015 | |
| San Francisco, CA | 3 | Participant | May 2015 | |
 Tokyo | 2 | Lead | May 2015 | |
 Toronto | 2 | Lead | Oct 2020 | |
 Singapore | 1 | Participant | Dec 2021 | |
| San Francisco, CA | 1 | Participant | Jul 2018 | |
| Seattle, WA | 1 | Participant | Dec 2021 | |
| Chicago, IL | 1 | Participant | Oct 2020 | |
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by Dialpad
Dialpad has acquired 6 companies to date.
Last acquisition by Dialpad was on October 16th 2024. Dialpad acquired Surfboard for undisclosed valuation.
Latest Acquisitions by Dialpad
| Description | Surfboard is a Sydney-headquartered workforce management platform for customer service teams. It offers shift scheduling, time tracking, forecasting, and compliance tools integrated with telephony and CRM systems like Zendesk and Genesys. Serving contact centers in Australia and New Zealand, Surfboard optimizes agent rostering through drag-and-drop calendars and AI-driven demand predictions to balance service levels and employee satisfaction. | Koopid is a San Ramon-headquartered provider of AI-driven customer experience orchestration platforms. Founded in 2016, it integrates automation with human agents across email, chat, voice, and social channels for contact centers. The platform processes over 10 million interactions monthly, serving clients in retail and telecom with features like workflow automation and sentiment analysis. Koopid's technology reduces resolution times by 40 percent through predictive routing and self-service bots. | Kare Knowledgeware is a Tel Aviv-based provider of customer experience automation platforms. The all-in-one solution captures user interactions at scale, automates traffic routing, and supports data-driven decisions for contact centers. Deployed by enterprises worldwide, it integrates AI for conversation analytics and omnichannel support across web, mobile, and voice channels. | - | |
| HQ Country |  | | | | |
| HQ City | London | San Francisco, CA | London | - | |
| Deal Date | 16 Oct 2024 | 19 Oct 2021 | 15 Sep 2021 | 15 Sep 2021 | |
| Valuation | undisclosed | $15M | undisclosed | undisclosed | |
| EV/Revenue | |||||
| EV/EBITDA | |||||
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Dialpad Competitors
Dialpad competitors include listed companies like SoundHound and Sprout Social, and private ones like Iterable, Nextiva, GupShup and Outreach.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| United States | Private | $200M | - | $2B | 10.0x | |
| United States | Publicly listed | $169M | $19M | $2.7B | 11.3x | |
| Phoenix, AZ | Private | $250M | - | $2.7B | 10.8x | |
| San Francisco, CA | Private | $150M | - | $1.4B | - | |
| Seattle, WA | Private | $125M | - | $4.4B | 35.2x | |
| United States | Publicly listed | $458M | ($31M) | $656M | 1.2x |
Dialpad Public Comps
Dialpad is still privately-owned, but its public comps include Calix, Asana, Five9, SoundHound, Marketingforce Management, Sansan, Braze, AvePoint, Weaver Network and Bandwidth.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $1B | $38M | 2.0x | 1.8x | 52.9x | 13.6x | |||
| $791M | ($175M) | 2.8x | 2.7x | (12.8x) | 22.8x | |||
| $1.1B | $91M | 2.4x | 2.2x | 30.1x | 9.1x | |||
| $169M | $19M | 14.6x | 11.3x | 132.5x | (35.5x) | |||
| $420M | $22M | 3.8x | 2.7x | 73.4x | 24.4x | |||
| $346M | $67M | 4.3x | 4.2x | 22.3x | 21.9x | |||
| $738M | ($109M) | 3.4x | 3.0x | (23.2x) | 33.6x | |||
| $419M | $42M | 5.9x | 5.1x | 58.4x | 27.4x | |||
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Common questions about Dialpad
| When was Dialpad founded? | Dialpad was founded in 2011. |
| Where is Dialpad headquartered? | Dialpad is headquartered in San Francisco, CA, United States. |
| Is Dialpad publicly listed? | No, Dialpad is a private, VC-backed company. |
| What is Dialpad's valuation? | Dialpad was last valued at $2.3B in its Series F in December 2022. |
| How much funding has Dialpad raised? | Dialpad has raised $432M across 7 funding rounds. |
| What was Dialpad's last funding round? | Dialpad's last funding round was a $50M Series F in December 2022. |
| Who are Dialpad's investors? | Dialpad's investors include Amasia, ICONIQ Capital, GV, Work-Bench, S32, Andreessen Horowitz, Felicis, SoftBank Group, OMERS Growth Equity, YTWO and 8 others. |
| What is Dialpad's revenue? | Dialpad's latest recorded revenue is $125M (December 2022). |
| What is Dialpad's revenue multiple? | Dialpad's latest valuation implies a 18.0x revenue multiple ($2.3B valuation on $125M of revenue). |
| Which companies are comparable to Dialpad? | Companies comparable to Dialpad include Iterable, SoundHound, Nextiva, GupShup, Outreach and Sprout Social. |
| How many companies has Dialpad acquired? | Dialpad has acquired 6 companies, including Surfboard, Koopid, Kare Knowledgeware, Gluru and Highfive. |
| What was the largest acquisition by Dialpad? | The $50M acquisition of TalkIQ in May 2018 is the largest acquisition Dialpad has made to date. |
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