Dialogue: From idea to IPO in 5 years
Mar 30, 2021
Dialogue announced today the close of its IPO process, and Diagram is delighted to congratulate them on this momentous occasion.
We cannot be more proud of the team’s success as we have watched Cherif, Anna, and Alexis bring the company from idea to IPO; overcoming challenge after challenge on their mission of removing barriers to excellent care.
Dialogue was the first company to come from the Diagram model in 2016, and since then, numerous other companies have originated, each with their own impactful missions. Yet, we will always keep a special place for Dialogue as our very first portfolio company.
Five years ago, we connected with Cherif over multiple coffees and lunches, discussing how bringing telemedicine to Canada, and distributing it through employers could truly impact the health and wellness of Canadians. We were a good match: Cherif was an experienced entrepreneur with successful startups prior to Dialogue, and he was able to attract Anna and Alexis to join him on this journey. Diagram had the capital to accelerate the initial phases of growth and the network to introduce the team to their first potential clients. We worked closely during the first few years as the team took the business’ reins and set out to build the highest quality virtual health company in Canada.
Watching the team grow, learn, and develop over the years, it doesn’t feel that long ago when they presented the first prototype that stitched together existing services – it was far from glamorous but still, even then, it allowed patients to see a medical professional quickly, and most importantly, it allowed prospective clients to have a glimpse into the future. The future that Dialogue would create over the subsequent years.
The timing for the creation of Dialogue was exceptional, as several trends converged to make this solution inevitable. This fueled their growth, with the team reaching hundreds of employers in Quebec, expanding to the rest of Canada, and eventually to a 24/7 operation. In the early days, the team didn’t realize the magnitude of the challenges ahead, however when these hurdles did appear, they were undeterred and in their typical fashion, not only navigated these twisting paths to comply but in the process, they also set what we believe to be the highest standard for the quality of virtual care practice in places where there wasn’t any.
Congratulations Cherif, Anna, Alexis, and the rest of the Dialogue team – we have watched you grow with amazement and have been rooting for you from day one. Today is just the beginning of your next chapter, and we wish you continued growth and success in providing individuals access to excellent care at the intersection of impactful technology.