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Communications platform Dialpad valued at $2.2 billion after ICONIQ Capital-led funding

By Reuters

– Cloud communications platform Dialpad Inc has raised fresh funds at a $2.2 billion valuation in a funding round led by investment firm ICONIQ Capital, riding on a boom in dealmaking in the software and technology sector.

The $170 million round takes the company’s total capital raised so far to $418 million and also included venture capital firms Amasia, GV and T-Mobile Ventures, Dialpad said on Thursday.

The San Francisco-based firm offers a platform that allows customers to do video meetings, messaging and the like. It counts Motorola Solutions Inc, Netflix Inc, Uber Technologies Inc and WeWork Inc among its customers.

Dialpad was founded by Craig Walker, who also started GrandCentral Communications, a startup that was later acquired by Alphabet Inc’s Google.

Dialpad said it would use the fresh funds for further development of its platform and hiring.

“We have teams in the UK, Japan, Australia and New Zealand, and we will put more investment towards our international expansion,” Walker, who also serves as Dialpad’s chief executive officer, said in an interview.

The company will also be looking out for strategic M&A opportunities, Walker said.