The cloud communications platform Dialpad Inc has raised fresh funds at a $2.2 billion valuation in the latest funding round led by investment firm ICONIQ Capital, riding on what they see as an industry boom period for dealmaking within software and technology companies right now.
With this $170 million round, Dialpad will have raised a total of $418 million, including capital from Amasia, GV and T-Mobile Ventures, the company announced Thursday.
Video meetings, messaging, and the like are all possible through the platform offered by San Francisco-based firm. The company’s customers include Motorola Solutions Inc, Netflix Inc, Uber Technologies Inc and WeWork Inc.
Dialpad was founded by a startup veteran who has also seen success in the telecommunications industry. Dialpade’s founder, Craig Walker started GrandCentral Communications which later became part of Google after it acquired his company.
As part of its plan to use the new funds, Dialpad said it would hire employees and further develop its platform.
Walker, who also serves as Dialpad’s chief executive officer, said that Dialpad has teams in Australia, New Zealand, Japan, the UK and the United States.
As part of its merger and acquisition strategy, Walker said the company will also seek strategic acquisitions.