RingCentral is a publicly-traded company that provides cloud-based phone systems for more than 350,000 organizations around the globe. Headquartered in Belmont, California, it employs 2,500 people and has offices in Florida, Colorado, North Carolina, Canada, Singapore, Philippines, China, Russia, and Ukraine.
RingCentral was founded in 1999 by current CEO Vlad Shmunis. It was bootstrapped until it received its first round of venture capital investment in 2006. Some of its investors included Sequoia Capital, Khosla Ventures, Scale Venture Partners, Hermes Growth Partners, and DAG Ventures. Silicon Valley Bank and Cisco also invested in the company in 2011, securing a total of $45 million in capital investment.
The company entered the New York Stock Exchange in 2013 under the ticker symbol RNG. It completed its follow-on offering in March 2014 worth $7.5 million.
RingCentral’s flagship product is RingCentral Office, a cloud-based PBX system for businesses. Some of its features include multiple extensions, call control, video, and web conferencing, call auto attendant, company directory, call forwarding, and rule-based call routing and answering. It can be easily integrated with apps like Outlook, Google Docs, Zendesk, Salesforce, Oracle, Box, and Dropbox. It also has a mobile app for both iPhone and Android phones, turning BYOD devices into business phones.
RingCentral Office does not require costly and complicated technical specialists, as it neither uses any capital equipment nor incurs any hardware costs. It has a user-friendly interface that empowers users to control many of their own settings. Admins can also quickly manage users, locations, and devices, anytime and anywhere.
Management of multiple locations and mobile workers is also convenient enough as it is done in one system and receives one monthly bill. The cloud-based system provides as much as 60% savings on monthly phone expenses.
Other products include RingCentral Professional, RingCentral Fax, and RingCentral Contact Center. The company also acquired Glip, a persistent collaboration platform, in June 2015. Glip added more functionalities to the RingCentral platform, such as instant messaging, document sharing, and task and event management.
RingCentral has been named Product of the Year by Internet Telephony Magazine in 2009. It also won a CNET Webware 100 Award within the same year. In 2010, the company was also named as a World Economic Forum Technology Pioneer.
The company has also received several accolades in 2015, including the Best Phone System Award, Supreme Software Award, and Best Mobile Support Award from FinancesOnline. RingCentral also won PC Magazine’s Editor’s Choice Awards twice.