Elevate your enterprise data technology and strategy at Transform 2021.


ringcentral-on-phoneCloud phone service RingCentral has raised an additional $10 million in funding, with a goal of expanding its size and scope.

RingCentral offers cloud computing-based business phone systems to more than 200,000 customers. The service essentially makes small businesses appear larger than they are and gives them inexpensive tools to compete with bigger companies when it comes to phone services. RingCentral offers things like multiple voicemail boxes, call routing, auto-receptionist, extension dialing, call transfers and smartphone integration.

“Businesses need a cost-effective and nimble phone system for today’s mobile world,” RingCentral CEO Vlad Shmunis said in a statement. “Over the past year, we have seen strong growth in adoption of our solutions from businesses in virtually every category, from mom-and-pop retailers to 200+ person companies. We decided to raise additional capital to further drive our expansion efforts.”

San Mateo, Calif.-based RingCentral’s latest round was led by Scale Venture Partners and Cisco. Other participants included Sequoia Capital, Khosla Ventures, Cisco, DAG Ventures, and Silicon Valley Bank. Before this round, the company had raised $45 million, bringing its total funding to $55 million. The company, while small, has also been targeted for a possible IPO in the near future.

ringcentral

Top photo via Spigoo

VentureBeat

VentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative technology and transact. Our site delivers essential information on data technologies and strategies to guide you as you lead your organizations. We invite you to become a member of our community, to access:
  • up-to-date information on the subjects of interest to you
  • our newsletters
  • gated thought-leader content and discounted access to our prized events, such as Transform 2021: Learn More
  • networking features, and more
Become a member