Startup wants to be ready for public listing in the coming year
Dialpad provides a platform that companies use for services including phone calls, videoconferencing, transcription and online messaging. Its customers include big companies like ride-hailing company Uber Technologies Inc.
and communications and security equipment provider Motorola Solutions Inc.
As well as small businesses. The company, which was founded in 2011 and is not yet profitable, said it has raised $250 million from venture-capital investors, including investment firm Iconiq Capital and GV, formerly Google Ventures.
The shift to remote work during the pandemic has been a boon for Dialpad’s business, chief executive Craig Walker said, noting that many companies still use on-site desk phones that employees can’t reach outside the office. Dialpad’s competitors include business networking companies such as Cisco Systems. Inc.
and communication platforms such as RingCentral Inc.,
he said. The company said that Dialpad has annual recurring revenue of approximately $125 million.
Dialpad wants to be ready for public listing in the coming year and was looking for a CFO with public-company experience, Mr Walker said. In addition to serving as Okta’s CFO, Mr. Kaure also served as the company’s director during the company’s 2017 public listing.
Mr. Koure said he is focused on getting Dialpad ready to operate as a public company. This means reducing the time taken to close books every quarter and strengthening internal financial controls, he said. The company has 930 employees globally, including 33 in the finance department.
The company also plans to raise additional venture funds ahead of the public offering to fund its growth, Mr. Kore said.
Dialpad has expanded partly through acquisitions. The company this month acquired Care Knowledgeware, a company that uses artificial intelligence to answer customer service inquiries. Dialpad also announced a partnership with T-Mobile US in March Inc.
In which the telecom giant sells a co-branded version of the Dialpad platform.
Investors representing GV and Econik said Mr. Kaur is joining as CFO at a time when the company is performing well. Part of his role as finance chief will be to ensure the company continues to do so, said Rich Miner, a Google executive who represents GV and also serves on Dialpad’s board.
Kristin Broughton at [email protected]