Company:RingCentral

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Short description: American communications firm
RingCentral, Inc.
TypePublic company
  • NYSE: RNG (Class A)
  • Russell 1000 component
IndustryCloud computing-based business phone systems
Founded1999; 25 years ago (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)
Template:Infobox network service provider
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 United Kingdom , France , Spain , China , India , the Netherlands, Israel, Australia , South Korea , Switzerland , Germany , Ireland, and the Philippines .[46][better source needed]

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. https://www.sec.gov/ix?doc=/Archives/edgar/data/1384905/000138490523000017/rng-20221231.htm. 
  2. ↑ "Meet our executive team | RingCentral". https://www.ringcentral.com/whyringcentral/leadership.html. 
  3. ↑ Rebecca Buckman (March 4, 2008). "Internet Phone Service Gets Plush". The Wall Street Journal. https://www.wsj.com/articles/SB120459705656609395. 
  4. ↑ "The jobs machine". The Economist. April 13, 2013. https://www.economist.com/news/business/21576101-start-ups-founded-immigrants-are-creating-jobs-all-over-america-jobs-machine. 
  5. ↑ "Services That Eliminate Telephone Tag". Bloomberg Businessweek. August 11, 2009. https://www.bloomberg.com/news/articles/2009-08-11/services-that-eliminate-telephone-tag. 
  6. ↑ Kurt Wagner (June 10, 2013). "Native ads? Bitcoins? 5 tech buzzwords explained". Fortune. http://fortune.com/2013/06/10/native-ads-bitcoins-5-tech-buzzwords-explained/. 
  7. ↑ 7.0 7.1 "Businesses Move To Voice-Over-IP". Forbes. December 9, 2008. https://www.forbes.com/2008/12/09/skype-vonage-ringcentral_leadership_clayton_in_rc_1209claytonchristensen_inl.html. 
  8. ↑ Zack Stern (September 16, 2009). "Online Phone Service Bundles Small-Business Needs". Washington Post/PC World. https://www.washingtonpost.com/wp-dyn/content/article/2009/09/14/AR2009091402146.html. 
  9. ↑ "13 startup stars on the verge of an IPO". Fortune. CNNMoney. https://money.cnn.com/galleries/2011/technology/1107/gallery.ipo_startups.fortune/14.html. 
  10. ↑ "Cloud-based phones bring angelic benefits". The Salt Lake Tribune. May 18, 2012. http://archive.sltrib.com/article.php?id=54005378&itype=CMSID. 
  11. ↑ 11.0 11.1 "Vlad Vendrow". https://www.ringcentral.com/whyringcentral/leadership/vlad-vendrow.html. 
  12. ↑ Pierre Bienaimé (February 9, 2012). "The Man Who Turned $5,000 into RingCentral". Palo Alto Patch. https://patch.com/california/paloalto/how-vlad-shmunis-turned-5-000-into-ringcentral. 
  13. ↑ Patrick Hoge (June 9, 2010). "Ringtones in the Cloud". Upstart Business Journal. http://upstart.bizjournals.com/industry-news/technology/2010/06/09/startup-ringcentral-aims-internet-phone-service-at-small-businesses.html?page=all. 
  14. ↑ Sean Ludwig (September 9, 2011). "RingCentral raises an additional $10M to bring calling to the cloud". VentureBeat. https://venturebeat.com/2011/09/09/ringcentral-raises-10m/. 
  15. ↑ Leena Rao (April 18, 2012). "RingCentral Launches New Mobile, Cloud-Based Phone System For Businesses". TechCrunch. https://techcrunch.com/2012/04/18/ringcentral-launches-new-mobile-cloud-based-phone-system-for-businesses/. 
  16. ↑ 16.0 16.1 Patrick Hoge (September 27, 2013). "RingCentral makes music, Violin Memory plunges". San Francisco Business Times. http://www.bizjournals.com/sanfrancisco/blog/2013/09/ringcentral-violin-memory-pattern-energy.html. 
  17. ↑ 17.0 17.1 Tomio Geron (September 27, 2013). "Violin Memory IPO Flails, RingCentral IPO Soars". Forbes. https://www.forbes.com/sites/tomiogeron/2013/09/27/violin-memory-ipo-flails-ringcentral-ipo-soars/. 
  18. ↑ 18.0 18.1 Bill Robinson (March 24, 2012). "Memo to Small Business: RingCentral Will Take Your Calls". HuffPost. http://www.huffingtonpost.com/billrobinson/memo-to-small-business-ri_b_1370360.html. 
  19. ↑ "The Man Who Turned $5,000 into RingCentral". https://patch.com/california/paloalto/how-vlad-shmunis-turned-5-000-into-ringcentral. 
  20. ↑ Leena Rao (September 8, 2011). "Eyeing An IPO, Cloud-Based Phone System RingCentral Raises $10M From Cisco And Others". TechCrunch. https://techcrunch.com/2011/09/08/eying-an-ipo-cloud-based-phone-system-ringcentral-raises-another-10-million/. 
  21. ↑ John Sailors (March 12, 2014). "RingCentral closes follow-on offering". San Francisco Business Times. https://www.bizjournals.com/sanfrancisco/morning_call/2014/03/ringcentral-follow-on-offering-sequoia-khosla-dag.html. 
  22. ↑ "Avaya and RingCentral Introduce Avaya Cloud Office™, Making Cloud Communications Simple". https://www.ringcentral.com/whyringcentral/company/pressreleases/avaya-and-ringcentral-introduce-avaya-cloud-office-making-cloud-communications-simple.html. 
  23. ↑ "RingCentral Stock Gains 54% In Four Months On New Avaya Partnership". https://www.forbes.com/sites/robertdefrancesco/2020/01/27/ringcentral-stock-gains-54-in-four-months-on-new-avaya-partnership/. 
  24. ↑ Savitz, Eric J.. "Zoom Is Getting New Competition, as RingCentral Jumps Into Video Chat" (in en-US). https://www.barrons.com/articles/zoom-gets-a-new-rival-in-video-chat-as-ringcentral-announces-new-offering-51585833027. 
  25. ↑ "RingCentral dials back Zoom partnership with video app launch" (in en). https://searchunifiedcommunications.techtarget.com/news/252481106/RingCentral-dials-back-Zoom-partnership-with-video-app-launch. 
  26. ↑ 26.0 26.1 "What Is RingCentral MVP?". March 29, 2022. https://www.uctoday.com/unified-communications/what-is-ringcentral-mvp/. 
  27. ↑ "Partnership with RingCentral gives Mitel a much-needed boost". December 23, 2021. https://www.verdict.co.uk/mitel-ringcentral-partnership/. 
  28. ↑ "RingCentral Snares AT&T Exec for COO Role". January 11, 2022. https://www.uctoday.com/unified-communications/ringcentral-snares-att-exec-for-coo-role/. 
  29. ↑ Lisa Brown (December 19, 2022). "CEO Spotlight: Mo Katibeh’s Affinity for Technology and Innovation Continues to Drive a Remarkable Career". https://ceoworld.biz/2022/12/19/ceo-spotlight-mo-katibehs-affinity-for-technology-and-innovation-continues-to-drive-a-remarkable-career/. 
  30. ↑ Zeus Kerravala (February 16, 2023). "Amazon Web Services and RingCentral Tag Team in Cloud Communications". https://www.nojitter.com/ccaas/amazon-web-services-and-ringcentral-tag-team-cloud-communications?ng_gateway_return=true&full=true. 
  31. ↑ "Vodafone Portugal and RingCentral Power Hybrid Work Solution". May 22, 2023. https://www.uctoday.com/collaboration/vodafone-portugal-and-ringcentral-power-hybrid-work-solution/. 
  32. ↑ "RingCentral for Teams 2.0 Announced as ‘Next Gen’ UC App". May 9, 2023. https://www.uctoday.com/unified-communications/ringcentral-for-teams-2-0-announced-as-next-gen-uc-app/. 
  33. ↑ "RingCentral Launches Cloud Telephony Service in India". June 27, 2023. https://www.uctoday.com/unified-communications/ringcentral-launches-cloud-telephony-service-in-india/. 
  34. ↑ "RingCentral Announces New CEO". August 8, 2023. https://www.uctoday.com/unified-communications/ringcentral-announces-new-ceo/#:~:text=Robbiati%20has%20been%20a%20member,member%20of%20the%20Company%27s%20Board.. 
  35. ↑ "RingCentral Gobbles Up Glip". https://www.nojitter.com/ringcentral-gobbles-glip. 
  36. ↑ "RingCentral Acquires Customer Engagement Platform Dimelo". https://www.nojitter.com/contact-center-customer-experience/ringcentral-acquires-customer-engagement-platform-dimelo. 
  37. ↑ "RingCentral Announces Definitive Agreement to Acquire Connect First to Expand its Customer Engagement Portfolio". https://www.ringcentral.com/whyringcentral/company/pressreleases/ringcentral-announces-definitive-agreement-to-acquire-connect-first-to-expand-its-customer-engagement-portfolio.html. 
  38. ↑ "Virtual Phone System: What Is It & How Does It Work?". 25 May 2021. https://www.founderjar.com/virtual-phone-system/. 
  39. ↑ "RingCentral Acquires Encryption Company". 22 March 2021. https://mytechdecisions.com/unified-communications/ringcentral-acquires-encryption-company/. 
  40. ↑ Zeus Kerravala (August 7, 2023). "RingCentral Acquires Hopin Assets For Hybrid Events". https://www.eweek.com/enterprise-apps/ringcentral-acquires-hopin-assets-for-hybrid-events/. 
  41. ↑ Oliver Rist (January 7, 2008). "RingCentral DigitalLine VoIP Service". PC Magazine. https://www.pcmag.com/article2/0,2817,2246090,00.asp. 
  42. ↑ 42.0 42.1 42.2 Fahmida Y. Rashid (February 12, 2013). "RingCentral Office". PC Magazine. https://www.pcmag.com/article2/0,2817,2415347,00.asp. 
  43. ↑ Renee Hopkins Callahan (December 9, 2008). "Businesses Move To Voice-Over-IP". Forbes. https://www.forbes.com/2008/12/09/skype-vonage-ringcentral_leadership_clayton_in_rc_1209claytonchristensen_inl.html. 
  44. ↑ Arik Hesseldahl (June 19, 2015). "RingCentral Expands Beyond Phone Service With Glip Acquisition". Re/Code. http://recode.net/2015/06/19/ringcentral-expands-beyond-phone-service-with-glip-acquisition/. 
  45. ↑ Nathan Eddy (June 19, 2015). "RingCentral Acquires Cloud Messaging Company Glip". eWeek. http://www.eweek.com/small-business/ringcentral-acquires-cloud-messaging-company-glip.html. 
  46. ↑ "Our offices". https://www.ringcentral.com/whyringcentral/contactus.html. 
  47. ↑ "Peer Insights". https://www.gartner.com/reviews/market/meeting-solutions/vendor/ringcentral. 
  48. ↑ "100 BEST PLACES TO WORK IN SAN FRANCISCO". https://www.builtinsf.com/awards/best-places-to-work-san_francisco-2022. 
  49. ↑ "100 BEST WORKPLACES FOR INNOVATORS 2023". https://www.fastcompany.com/best-workplaces-for-innovators/list. 

External links



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