RingCentral, Inc.
TypePublic company
IndustryCloud computing-based business phone systems
Founded1999 (1999)
Founders
  • Vlad Shmunis
  • Vlad Vendrow
HeadquartersBelmont, California, U.S.
Key people
  • Vlad Shmunis (Executive Chairman of the Board)
  • Tarek Robbiati (CEO)
  • Sonalee Parekh (CFO)
  • John Marlow (CAO)
  • Vlad Vendrow (CTO)
  • Carson Hostetter (CRO)
  • Kira Makagon (CINO)
  • Bobbie Grafeld (CHRO)
Products
  • RingCentral MVP
  • RingCentral Contact Center
  • RingSense
RevenueIncrease US$1.99 billion (2022)
Decrease US$−649 million (2022)
Decrease US$−879 million (2022)
Total assetsDecrease US$2.07 billion (2022)
Total equityDecrease US$−483 million (2022)
Number of employees
3,902 (December 2022)
ASN40627
Websiteringcentral.com
Footnotes / references
[1][2]

RingCentral, Inc. is an American provider of cloud-based communication and collaboration products and services.[3][4][5][6][7][8][9]

CEO Vlad Shmunis and CTO Vlad Vendrow founded the company in 1999.[10][11][12] Investors included Doug Leone, Sequoia Capital, Khosla Ventures, Scale Venture Partners, and DAG Ventures.[13][14][15] It completed its IPO in 2013.[16][17]

History

RingCentral founders Shmunis and Vendrow previously worked together at RingZero Systems, where Shmunis was founder/CEO and Vendrow was director of engineering. RingZero was focused on small business communications on Microsoft Windows.[18] The company was sold to Motorola in 2003, and Shmunis and Vendrow founded RingCentral.[19][11]

RingCentral received its first round of venture capital investment in 2006.[18] In 2011, it added Cisco and Silicon Valley Bank as investors and had, to date, secured $45 million in capital investment.[20] It completed its IPO on September 27, 2013,[16][17] and completed a follow-on offering in March 2014 that raised $39.8 million.[21]

In February 2020, RingCentral and Avaya unveiled the Avaya Cloud Office application.[22][23]

In April 2020, RingCentral launched RingCentral Video, a video-conferencing product, which completed its differentiated Message Video Phone (MVP) solution.[24][25] The RingCentral MVP app launched in May 2020.[26]

In 2021, RingCentral entered an exclusive UCaaS partnership with Mitel; under this collaboration, Mitel’s users can access RingCentral’s cloud communications platform.[27]

Mo Katibeh was appointed as President and COO in January 2022, having previously served as an AT&T executive for over 20 years.[28][29]

RingCentral began offering its MVP and Contact Center features to Amazon Web Services in February 2023.[30]

RingSense, an AI platform, was launched in March 2023.[26]

In April 2023, Vodafone Italy and RingCentral partnered to roll out Vodafone Business UC. In May 2023, Vodafone Portugal and RingCentral announced the Vodafone One Net TeamCollaboration. Using RingCentral’s UCaaS solution, these partnerships combine RingCentral’s messaging and video capabilities with Vodafone’s fixed and mobile voice communications functionality into one platform.[31]

The next generation of RingCentral for Microsoft Teams 2.0 was announced in May 2023. The next-gen embedded app integrates RingCentral’s cloud PBX & softphone dialer capabilities directly into the Teams platform and features calling, SMS, and fax. It can also be coupled with RingCentral Contact Center.[32]

In June 2023, RingCentral became the first global cloud provider to offer fully compliant cloud phone system services in India.[33]

On August 28, 2023, Tarek Robbiati became CEO.[34]

Acquisitions

In June 2015, RingCentral acquired Glip, a persistent workstream collaboration platform that adds team messaging, document sharing, task and event management, and other collaboration functionality to the RingCentral platform.[35] In October 2018, it acquired Dimelo, a Paris-based OmniChannel contact center provider.[36]

In January 2019, it acquired Connect First, a Boulder, Colorado-based outbound and blended customer engagement provider.[37]

In December 2020, it purchased DeepAffects, which specializes in intelligence-assisted speech recognition.[38] In March 2021, it purchased Kindite, an encryption service provider.[39]

RingCentral acquired Hopin, a provider of online audience engagement technology, in August 2023.[40]

Products

RingCentral’s integrated platform allows for compatibility throughout its product lines. For example, MVP (UC) can be used in tandem with RingCentral’s Contact Center (CaaS). It provides a cloud-based business phone system with PBX features such as multiple extensions, call control; Outlook, Salesforce, Google Docs, DropBox and Box integration; SMS; video conferencing and web conferencing; fax; auto-receptionist; call logs; and rule-based call routing and answering.[7][41][42] Unlike most cloud-based technologies, business customers are not required to invest capital or purchase maintenance contracts.[43]

RingCentral Office

RingCentral Office is a cloud-based PBX system for businesses.[42] RingCentral Office features include call auto-attendant, company directory, call forwarding and handling, multiple extensions, a mobile app for iPhone and Android, Business SMS, video conferencing and screen-sharing, and fax.[42]

RingCentral Glip

In June 2015, RingCentral acquired Glip,[44] a persistent workstream collaboration platform that adds team messaging, document sharing, task and event management, and other collaboration functionality to the RingCentral platform.[45]

Offices

RingCentral has a total of 22 office locations globally. RingCentral's headquarters are in Belmont, California, with other US offices in Denver, Charlotte, and Dallas. It has international offices in Canada, the UK, France, Spain, China, India, the Netherlands, Israel, Australia, South Korea, Switzerland, Germany, Ireland, and the Philippines.[46]

Reception

For the past eight years, Gartner has recognized RingCentral as a Worldwide Leader in the Magic Quadrant for UCaaS, most recently in 2022.[47]

In 2022, RingCentral was featured as one of San Francisco’s 100 Best Places to Work.[48] In 2023, RingCentral was included in Fast Company’s annual 100 Best Workplaces for Innovators list.[49]

References

  1. ↑ "RingCentral, Inc. 2022 Form 10-K Annual Report". U.S. Securities and Exchange Commission. 23 February 2023. Archived from the original on 24 February 2023. Retrieved 24 February 2023.
  2. ↑ "Meet our executive team | RingCentral". RingCentral. Archived from the original on 11 October 2022. Retrieved 14 October 2022.
  3. ↑ Rebecca Buckman (March 4, 2008). "Internet Phone Service Gets Plush". The Wall Street Journal. Archived from the original on August 9, 2017. Retrieved August 22, 2017.
  4. ↑ "The jobs machine". The Economist. April 13, 2013. Archived from the original on August 9, 2017. Retrieved August 22, 2017.
  5. ↑ "Services That Eliminate Telephone Tag". Bloomberg Businessweek. August 11, 2009. Archived from the original on August 13, 2023. Retrieved August 22, 2017.
  6. ↑ Kurt Wagner (June 10, 2013). "Native ads? Bitcoins? 5 tech buzzwords explained". Fortune. Archived from the original on August 9, 2017. Retrieved August 22, 2017.
  7. 1 2 "Businesses Move To Voice-Over-IP". Forbes. December 9, 2008. Archived from the original on July 29, 2017. Retrieved August 22, 2017.
  8. ↑ Zack Stern (September 16, 2009). "Online Phone Service Bundles Small-Business Needs". Washington Post/PC World. Archived from the original on August 9, 2017. Retrieved August 22, 2017.
  9. ↑ "13 startup stars on the verge of an IPO". Fortune. CNNMoney. Archived from the original on August 9, 2017. Retrieved August 22, 2017.
  10. ↑ "Cloud-based phones bring angelic benefits". The Salt Lake Tribune. May 18, 2012. Archived from the original on August 22, 2017. Retrieved August 22, 2017.
  11. 1 2 "Vlad Vendrow". Archived from the original on August 6, 2019. Retrieved August 6, 2019.
  12. ↑ Pierre Bienaimé (February 9, 2012). "The Man Who Turned $5,000 into RingCentral". Palo Alto Patch. Archived from the original on August 22, 2017. Retrieved August 22, 2017.
  13. ↑ Patrick Hoge (June 9, 2010). "Ringtones in the Cloud". Upstart Business Journal. Archived from the original on July 3, 2015. Retrieved August 22, 2017.
  14. ↑ Sean Ludwig (September 9, 2011). "RingCentral raises an additional $10M to bring calling to the cloud". VentureBeat. Archived from the original on August 22, 2017. Retrieved August 22, 2017.
  15. ↑ Leena Rao (April 18, 2012). "RingCentral Launches New Mobile, Cloud-Based Phone System For Businesses". TechCrunch. Archived from the original on August 22, 2017. Retrieved August 22, 2017.
  16. 1 2 Patrick Hoge (September 27, 2013). "RingCentral makes music, Violin Memory plunges". San Francisco Business Times. Archived from the original on August 22, 2017. Retrieved August 22, 2017.
  17. 1 2 Tomio Geron (September 27, 2013). "Violin Memory IPO Flails, RingCentral IPO Soars". Forbes. Archived from the original on August 23, 2017. Retrieved August 22, 2017.
  18. 1 2 Bill Robinson (March 24, 2012). "Memo to Small Business: RingCentral Will Take Your Calls". HuffPost. Archived from the original on August 26, 2017. Retrieved August 22, 2017.
  19. ↑ "The Man Who Turned $5,000 into RingCentral". Archived from the original on March 30, 2019. Retrieved August 6, 2019.
  20. ↑ Leena Rao (September 8, 2011). "Eyeing An IPO, Cloud-Based Phone System RingCentral Raises $10M From Cisco And Others". TechCrunch. Archived from the original on August 22, 2017. Retrieved August 22, 2017.
  21. ↑ John Sailors (March 12, 2014). "RingCentral closes follow-on offering". San Francisco Business Times. Archived from the original on August 22, 2017. Retrieved August 22, 2017.
  22. ↑ "Avaya and RingCentral Introduce Avaya Cloud Office™, Making Cloud Communications Simple". ringcentral.com. Archived from the original on 2021-07-09. Retrieved 2021-07-05.
  23. ↑ "RingCentral Stock Gains 54% In Four Months On New Avaya Partnership". forbes.com. Archived from the original on 2021-07-09. Retrieved 2021-07-05.
  24. ↑ Savitz, Eric J. "Zoom Is Getting New Competition, as RingCentral Jumps Into Video Chat". www.barrons.com. Archived from the original on 2020-04-06. Retrieved 2020-04-06.
  25. ↑ "RingCentral dials back Zoom partnership with video app launch". SearchUnifiedCommunications. Archived from the original on 2020-04-06. Retrieved 2020-04-06.
  26. 1 2 "What Is RingCentral MVP?". UC Today. March 29, 2022. Retrieved October 23, 2023.
  27. ↑ "Partnership with RingCentral gives Mitel a much-needed boost". Verdict. December 23, 2021. Retrieved October 23, 2023.
  28. ↑ "RingCentral Snares AT&T Exec for COO Role". UC Today. January 11, 2022. Retrieved October 23, 2023.
  29. ↑ Lisa Brown (December 19, 2022). "CEO Spotlight: Mo Katibeh's Affinity for Technology and Innovation Continues to Drive a Remarkable Career". CEO World. Retrieved October 23, 2023.
  30. ↑ Zeus Kerravala (February 16, 2023). "Amazon Web Services and RingCentral Tag Team in Cloud Communications". No Jitter. Retrieved August 25, 2023.
  31. ↑ "Vodafone Portugal and RingCentral Power Hybrid Work Solution". UC Today. May 22, 2023. Retrieved August 25, 2023.
  32. ↑ "RingCentral for Teams 2.0 Announced as 'Next Gen' UC App". UC Today. May 9, 2023. Retrieved August 25, 2023.
  33. ↑ "RingCentral Launches Cloud Telephony Service in India". UC Today. June 27, 2023. Retrieved August 25, 2023.
  34. ↑ "RingCentral Announces New CEO". UC Today. August 8, 2023. Retrieved August 28, 2023.
  35. ↑ "RingCentral Gobbles Up Glip". Archived from the original on August 6, 2019. Retrieved August 6, 2019.
  36. ↑ "RingCentral Acquires Customer Engagement Platform Dimelo". Archived from the original on August 6, 2019. Retrieved August 6, 2019.
  37. ↑ "RingCentral Announces Definitive Agreement to Acquire Connect First to Expand its Customer Engagement Portfolio". Archived from the original on August 13, 2022. Retrieved August 13, 2022.
  38. ↑ "Virtual Phone System: What Is It & How Does It Work?". founderjar.com. 25 May 2021. Archived from the original on 2021-07-09. Retrieved 2021-07-05.
  39. ↑ "RingCentral Acquires Encryption Company". mytechdecisions.com. 22 March 2021. Archived from the original on 2021-07-09. Retrieved 2021-07-05.
  40. ↑ Zeus Kerravala (August 7, 2023). "RingCentral Acquires Hopin Assets For Hybrid Events". eWeek. Retrieved August 25, 2023.
  41. ↑ Oliver Rist (January 7, 2008). "RingCentral DigitalLine VoIP Service". PC Magazine. Archived from the original on August 22, 2017. Retrieved August 22, 2017.
  42. 1 2 3 Fahmida Y. Rashid (February 12, 2013). "RingCentral Office". PC Magazine. Archived from the original on August 30, 2017. Retrieved August 22, 2017.
  43. ↑ Renee Hopkins Callahan (December 9, 2008). "Businesses Move To Voice-Over-IP". Forbes. Archived from the original on July 29, 2017. Retrieved August 22, 2017.
  44. ↑ Arik Hesseldahl (June 19, 2015). "RingCentral Expands Beyond Phone Service With Glip Acquisition". Re/Code. Archived from the original on April 21, 2016. Retrieved August 22, 2017.
  45. ↑ Nathan Eddy (June 19, 2015). "RingCentral Acquires Cloud Messaging Company Glip". eWeek. Retrieved August 22, 2017.
  46. ↑ "Our offices". RingCentral. Retrieved October 23, 2023.
  47. ↑ "Peer Insights". Gartner. Retrieved August 25, 2023.
  48. ↑ "100 BEST PLACES TO WORK IN SAN FRANCISCO". Built in SF. Retrieved August 25, 2023.
  49. ↑ "100 BEST WORKPLACES FOR INNOVATORS 2023". Fast Company. Retrieved August 25, 2023.
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