Cloud services company CoreDial raises $27.5M from LLR Partners

CoreDial, the Blue Bell, Pa.-based cloud services and software company, raised $27.5 million from Philly private equity firm LLR Partners.
The 10-year-old company plans to use the money on product development and hiring, specifically management roles, according to a release. CEO Alan Rihm said he wanted to hire 40 to 60 people by the end of the year, bringing the staff total to 140, the Philadelphia Business Journal reported earlier this year.
CoreDial doubled its office space when it moved into a 30,000-square-foot office last year.
Mel Baiada, the founder who sold Bluestone Software to HP in 2000, is a previous investor in CoreDial.