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RingCentral (NYSERNG) is a publicly traded provider of cloud-based communications and collaboration solutions[buzzword] for businesses.[2][3][4][5][6][7][8] The company is considered the leader in Unified Communications as a Service in terms of revenue and subscriber seats.[9] [10]

RingCentral, Inc.
Traded asNYSERNG (Class A)
Russell 1000 Index component
IndustryCloud computing-based business phone systems
Founded1999
Headquarters20 Davis Drive
Belmont, California 94002
Key people
Vlad Shmunis (CEO)
Dave Sipes (COO)
Mitesh Dhruv (CFO)
ProductsRingCentral Office
RingCentral Mobile
RingCentral Fax
Revenue$673.6 million (2018)[1]
Total equityUSD 10B
Number of employees
1,871 (2018)
Websitewww.ringcentral.com

RingCentral CEO Vlad Shmunis and CTO Vlad Vendrow founded the company in 1999.[11][12][13] RingCentral investors included Doug Leone, Sequoia Capital, David Weiden, Khosla Ventures, Rob Theis, Scale Venture Partners, Bobby Yerramilli-Rao, Hermes Growth Partners and DAG Ventures.[14][15][16] It completed its IPO in 2013.[17][18]

HistoryEdit

Co-Founders of RingCentral, Vlad Shmunis and Vlad Vendrow, previously worked together at RingZero Systems where Vlad Shmunis was Founder / CEO and Vlad Vendrow was Director of Engineering. RingZero was focused on small business communications on Microsoft Windows.[19] The company was sold to Motorola for "double-digit millions". After Motorola changed the focus exclusively on mobile platforms, Vlad Shmunis and Vlad Vendrow founded RingCentral.[20] [12]

RingCentral was bootstrapped from 1999 until it received its first round of venture capital investment in 2006.[19] In 2011, RingCentral added Cisco and Silicon Valley Bank as investors and had, to date, secured a total of $45 million in capital investment.[21]

On September 27, 2013, RingCentral completed its IPO.[17][18] The company completed a follow-on offering in March 2014 that raised $39.8 million for the company.[22]

In May 2019, RingCentral purchased the naming rights to the Oakland Coliseum renaming it to the RingCentral Coliseum. It is home to the Oakland Athletics and Oakland Raiders. [23]

AcquisitionsEdit

In June 2015, RingCentral acquired Glip, a team collaboration provider.[24]

In October 2018, RingCentral acquired Dimelo, a Paris-based OmniChannel contact center provider.[25]

In January 2019, RingCentral acquired Connect First, a Boulder, Colorado-based outbound and blended customer engagement provider.[26]

ProductsEdit

RingCentral's flagship product is RingCentral Office. The company also offers RingCentral Professional, and RingCentral Fax.[27][28]

RingCentral provides a cloud-based business phone system. It offers 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.[6][28][29] Customers do not require capital investment or maintenance contracts, which lowers customer costs and – as with most cloud-based technologies -- "potentially disrupts" traditional on-premises PBX providers.[30]

RingCentral OfficeEdit

RingCentral Office is a cloud-based PBX system for businesses.[29] 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.[29]

RingCentral ProfessionalEdit

RingCentral Professional is a suite that provides a universal telephone number, voice mail, dial-by-name directory, call-forwarding, and other features through a smartphone app on iPhone and Android devices.[16][31]

RingCentral FaxEdit

RingCentral Fax allows users to send and receive faxes through the Internet without a fax machine.[32][33] The service integrates with Dropbox, Box, and Google Docs.[32]

RingCentral Meetings, Webinar and RoomsEdit

  • RingCentral Meetings is a web conferencing solution[buzzword]
  • RingCentral Webinar allows companies to host HD-ready virtual events with up to 3000 attendees.
  • RingCentral Rooms is to manage web conferences.

RingCentral GlipEdit

In June 2015, RingCentral acquired Glip.[34] Glip is a persistent workstream collaboration platform which adds team messaging, document sharing, task and event management, and other collaboration functionality to the RingCentral platform. Glip was acquired by RingCentral for an undisclosed amount.[35]

AwardsEdit

RingCentral was identified as one of Forbes's 100 Most Trustworthy Companies in America for 2016 and 2017.[36][37] In 2016, RingCentral was selected to Deloitte’s Technology Fast 500 for the third consecutive year.[38] The Deloitte Technology Fast 500 is a ranking of the 500 fastest-growing technology, media, telecommunications, life sciences and clean technology companies in North America.[39]

For its strong overall performance, RingCentral earned Frost & Sullivan’s 2016 Company of the Year Award.[40] The company is recognized as a 2017 PC Magazine Editor’s Choice.[41] According to PC Magazine, RingCentral is extremely versatile and can be configured to fit practically any kind of business.[41]

RingCentral earned TMC’s 2017 WebRTC Product of the Year Award.[42] This award honors solutions[buzzword] that support browser-to-browser applications for voice calling, video chat, and P2P file sharing without the need of either internal or external plug-ins. It has also been recognized in TMC’s 2017 Unified Communications Product of the Year Award that honors the best, most innovative unified communications products and solutions[buzzword] released in the last twelve months.[43]

In 2017, RingCentral was named to the Constellation Research’s Enterprise Group Messaging: Standalone[44] and Enterprise Group Messaging: Unified Communication[45] shortlists. Other 2017 awards include the TMC's 2016 Unified Communications Excellence Award[46] and the Silver Stevie Award for Customer Service Department of the Year [47]

In 2018, the RingCentral Developer Program won two awards, the API World award for Best Communications API and the Nordic APIs award for Best Public API.[48] [49]

Industry accoladesEdit

Gartner positioned RingCentral as a leader in its Magic Quadrant for Unified Communications as a Service in the years 2016, 2017, 2018, and 2019 as a result of its ability to execute and the completeness of vision.[50] [51] [52]

IHS Markit has identified RingCentral as a leader in its 2017 UCaaS Scorecard [53]

Based on a report published on June 14, 2017, by Synergy Research Group, an independent market research firm, RingCentral was recognized as the #1 worldwide market share leader in both revenue and subscriber seats for Unified Communications as a Service (UCaaS).[10]

OfficesEdit

It is headquartered in Belmont, California, and in the United States has offices in Denver, Charlotte, Boulder and Boca Raton, with international offices in Toronto, London, Paris, Singapore, Manila, Xiamen, China, St. Petersburg, Russia, and Odessa, Ukraine.[54][14][55][19]

ReferencesEdit

  1. ^ "RingCentral Company Profile". Craft. Retrieved September 27, 2019.
  2. ^ Rebecca Buckman (March 4, 2008). "Internet Phone Service Gets Plush". The Wall Street Journal. Retrieved August 22, 2017.
  3. ^ "The jobs machine". The Economist. April 13, 2013. Retrieved August 22, 2017.
  4. ^ "Services That Eliminate Telephone Tag". Bloomberg Businessweek. August 11, 2009. Retrieved August 22, 2017.
  5. ^ Kurt Wagner (June 10, 2013). "Native ads? Bitcoins? 5 tech buzzwords explained". Fortune. Retrieved August 22, 2017.
  6. ^ a b "Businesses Move To Voice-Over-IP". Forbes. December 9, 2008. Retrieved August 22, 2017.
  7. ^ Zack Stern (September 16, 2009). "Online Phone Service Bundles Small-Business Needs". Washington Post/PC World. Retrieved August 22, 2017.
  8. ^ "13 startup stars on the verge of an IPO". Fortune. CNNMoney. Retrieved August 22, 2017.
  9. ^ "Cloud Business Communications Growing by 23% per year; RingCentral Leads". Retrieved August 6, 2019.
  10. ^ a b "RingCentral Ranked #1 Cloud Communications Solution Provider According to Synergy Research". ringcentral.com (Press release). Retrieved August 22, 2017.
  11. ^ "Cloud-based phones bring angelic benefits". The Salt Lake Tribune. May 18, 2012. Retrieved August 22, 2017.
  12. ^ a b "Vlad Vendrow". Retrieved August 6, 2019.
  13. ^ Pierre Bienaimé (February 9, 2012). "The Man Who Turned $5,000 into RingCentral". Palo Alto Patch. Retrieved August 22, 2017.
  14. ^ a b Patrick Hoge (June 9, 2010). "Ringtones in the Cloud". Upstart Business Journal. Retrieved August 22, 2017.
  15. ^ Sean Ludwig (September 9, 2011). "RingCentral raises an additional $10M to bring calling to the cloud". VentureBeat. Retrieved August 22, 2017.
  16. ^ a b Leena Rao (April 18, 2012). "RingCentral Launches New Mobile, Cloud-Based Phone System For Businesses". TechCrunch. Retrieved August 22, 2017.
  17. ^ a b Patrick Hoge (September 27, 2013). "RingCentral makes music, Violin Memory plunges". San Francisco Business Times. Retrieved August 22, 2017.
  18. ^ a b Tomio Geron (September 27, 2013). "Violin Memory IPO Flails, RingCentral IPO Soars". Forbes. Retrieved August 22, 2017.
  19. ^ a b c Bill Robinson (March 24, 2012). "Memo to Small Business: RingCentral Will Take Your Calls". HuffPost. Retrieved August 22, 2017.
  20. ^ "The Man Who Turned $5,000 into RingCentral". Retrieved August 6, 2019.
  21. ^ Leena Rao (September 8, 2011). "Eyeing An IPO, Cloud-Based Phone System RingCentral Raises $10M From Cisco And Others". TechCrunch. Retrieved August 22, 2017.
  22. ^ John Sailors (March 12, 2014). "RingCentral closes follow-on offering". San Francisco Business Times. Retrieved August 22, 2017.
  23. ^ "Report: Oakland Coliseum to seal Ring Central naming rights deal". Retrieved August 6, 2019.
  24. ^ "RingCentral Gobbles Up Glip". Retrieved August 6, 2019.
  25. ^ "RingCentral Acquires Customer Engagement Platform Dimelo". Retrieved August 6, 2019.
  26. ^ "RingCentral Acquires Connect First, Signifies Industry Shift". Retrieved August 6, 2019.
  27. ^ "RingCentral, Inc". Bloomberg Businessweek. Retrieved August 22, 2017.
  28. ^ a b Oliver Rist (January 7, 2008). "RingCentral DigitalLine VoIP Service". PC Magazine. Retrieved August 22, 2017.
  29. ^ a b c Fahmida Y. Rashid (February 12, 2013). "RingCentral Office". PC Magazine. Retrieved August 22, 2017.
  30. ^ Renee Hopkins Callahan (December 9, 2008). "Businesses Move To Voice-Over-IP". Forbes. Retrieved August 22, 2017.
  31. ^ Philip Elmer-DeWitt (August 24, 2009). "Why did Apple okay RingCentral?". Fortune. Retrieved August 22, 2017.
  32. ^ a b Sean Ludwig (March 21, 2012). "RingCentral integrates with Dropbox, Box, Google to bring faxing to the cloud". VentureBeat. Retrieved August 22, 2017.
  33. ^ Adam C. Uzialko (August 15, 2017). "The Best Online Fax Services". Business News Daily. Retrieved August 22, 2017.
  34. ^ Arik Hesseldahl (June 19, 2015). "RingCentral Expands Beyond Phone Service With Glip Acquisition". Re/Code. Retrieved August 22, 2017.
  35. ^ Nathan Eddy (June 19, 2015). "RingCentral Acquires Cloud Messaging Company Glip". eWeek. Retrieved August 22, 2017.
  36. ^ Kathryn Dill (April 2016). "The 100 Most Trustworthy Companies in America". Forbes. Retrieved August 22, 2017.
  37. ^ Karsten Strauss (April 2017). "The 100 Most Trustworthy Companies In America, 2017". Retrieved 23 June 2017.
  38. ^ "2016 Technology Fast 500™ Winners". November 16, 2016. Retrieved August 22, 2017.
  39. ^ "2016 Technology Fast 500™ Winners". November 16, 2016. Retrieved August 22, 2017.
  40. ^ "2016 North American Hosted IP Telephony and UCaaS Company of the Year Award" (PDF). Retrieved August 22, 2017.
  41. ^ a b Paul Ferrill (February 2017). "RingCentral Office (for Business)". Retrieved August 22, 2017.
  42. ^ TMC (April 3, 2017). "TMC Announces 2017 WebRTC Product of the Year Award Winners". Retrieved August 22, 2017.
  43. ^ TMCnet News (April 4, 2017). "Winners of the 2017 Unified Communications Product of the Year Award Announced". Retrieved August 22, 2017.
  44. ^ Alan Lepofsky. "Constellation ShortList Enterprise Group Messaging: Standalone". Retrieved August 22, 2017.
  45. ^ Alan Lepofsky. "Constellation ShortList™ Enterprise Group Messaging: Unified Communication". Retrieved August 22, 2017.
  46. ^ TMC (January 18, 2017). "2016 Unified Communications Excellence Award Winners Announced". Retrieved August 22, 2017.
  47. ^ Stevie Awards (February 24, 2017). "2017 Stevie® Award Winners". Retrieved August 22, 2017.
  48. ^ "RingCentral Wins 2018 API World Award for Communications APIs". Retrieved August 6, 2019.
  49. ^ "Best Public API of 2018: Winner Announced!". Retrieved August 6, 2019.
  50. ^ Daniel O’Connell; Bern Elliot (August 23, 2016). "Magic Quadrant for Unified Communications as a Service, Worldwide". Retrieved August 22, 2017.
  51. ^ "Not a Lot of Change in the Gartner UCaaS Magic Quadrant 2018". Retrieved August 6, 2019.
  52. ^ "Who made the UCaaS Magic Quadrant for 2019?". Retrieved August 6, 2019.
  53. ^ IHS Technology (May 4, 2017). "UC as a Service (UCaaS)" (PDF). ringcentral.com. Retrieved August 22, 2017.
  54. ^ Fahmida Y. Rashid (April 17, 2013). "RingCentral Explains How the Cloud Transformed VoIP". PC Magazine. Retrieved August 22, 2017.
  55. ^ Nate Werlin (June 21, 2011). "Entrepreneur of the Year finalist: "Never run away from a fight"". VentureBeat. Retrieved August 22, 2017.