RingCentral provides a hosted business phone system as an advanced replacement for legacy PBX systems, offering voice and fax functionality. Its platform includes features such as an auto-receptionist, flexible extension structure, multiple voicemail boxes, smart call routing, business answering rules, extension dialing, call transfers, and integration with smartphones. TechCrunch (citing Michael Arrington) noted the service can make clients appear larger than they are. The article reports RingCentral raised $10 million in a third institutional financing round (with $851,240 remaining to be sold) but discloses no operating metrics. A later update states Cisco led the round; the piece does not specify how the new capital will be used. No revenue, user counts, valuation, or other financial metrics were provided in the article. RingCentral provides businesses with a virtual telephone system focused on professional presentation and scalability. Its core product includes a virtual PBX to manage multiple lines and features such as greetings recorded by professional voice talent. The service is targeted at businesses rather than consumers and positions itself as a more feature-rich alternative to consumer VoIP providers. In late 2007 the company took $12 million from Sequoia Capital and Khosla Ventures. The company announced a second $12 million round today led by DAG Ventures. The article notes DAG often follows Sequoia and other well-known venture capitalists in second, more expensive rounds.

Total raised

$22M

Funding rounds

2

Latest round

Equity

Latest activity

Oct 2010