RingCentral (NYSE:Â RNG) is a publicly traded provider of cloud-based communications and collaboration solutions for businesses. It is headquartered in Belmont, California and has offices in Denver, Colorado; Charlotte, NC; Toronto, Canada; Singapore; Manila, Philippines; Xiamen, China; St. Petersburg, Russia; Boca Raton, Florida and Odessa, Ukraine. 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).
RingCentral CEO Vlad Shmunis founded the company in 1999. 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. It completed its IPO in 2013.
History
RingCentral was bootstrapped until it received its first round of venture capital investment in 2006. In 2011, RingCentral added Cisco and Silicon Valley Bank as investors and had, to date, secured a total of $45 million in capital investment.
On September 27, 2013, RingCentral completed its IPO. The company completed a follow-on offering in March 2014 worth 7.5 million.
Products
RingCentral's flagship product is RingCentral Office. The company also offers RingCentral Professional, and RingCentral Fax.
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. Customers do not require capital investment or maintenance contracts, which lowers customer costs and â€" as with most cloud-based technologies -- "potentially disrupts" traditional on-premises PBX providers.
RingCentral Office
RingCentral Office is a cloud-based PBX system for businesses. 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.
RingCentral Professional
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.
RingCentral Fax
RingCentral Fax allows users to send and receive faxes through the Internet without a fax machine. The service integrates with Dropbox, Box, and Google Docs.
RingCentral Meetings, Webinar and Rooms
- RingCentral Meetings is a web conferencing solution with HD video conferencing, collaborative screen sharing, and large scale webinars. Hold face-to-face meetings, share your desktops, applications, or whiteboard and engage with large audiences in virtual events.
- RingCentral Webinar allows companies to host HD-ready virtual events and engage with up to 3000 attendees. It provides the flexibility to customize registrations and email communications with company branding. The interactive Q&A, polls and chat optimize audience engagement and user experience. Ideal for customer educational training, marketing online events, and virtual classrooms.
- RingCentral Rooms transforms conference room spaces into dynamically enabled web conferencing destinations. Using existing or off-the-shelf equipment, you can easily set up, hold, and manage web conferences.
RingCentral Glip
In June 2015, RingCentral acquired Glip. 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.
Awards
RingCentral was identified as one of Forbes’ 100 Most Trustworthy Companies in America for 2016 and 2017. In 2016, RingCentral was selected to Deloitte’s Technology Fast 500 for the third consecutive year. 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.
For its strong overall performance, RingCentral earned Frost & Sullivan’s 2016 Company of the Year Award. The company is recognized as a 2017 PC Magazine Editor’s Choice. According to PC Magazine, RingCentral is extremely versatile and can be configured to fit practically any kind of business.
RingCentral earned TMC’s 2017 WebRTC Product of the Year Award. This award honors solutions 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 released in the last twelve months.
In 2017, RingCentral was named to the Constellation Research’s Enterprise Group Messaging: Standalone and Enterprise Group Messaging: Unified Communication shortlists. Other 2017 awards include the TMC's 2016 Unified Communications Excellence Award and the Silver Stevie Award for Customer Service Department of the Year
Industry accolades
Gartner positioned RingCentral as a leader in its "2016 Magic Quadrant for Unified Communications as a Service (UCaaS), Worldwide" as a result of its ability to execute and the completeness of vision. IHS Markit has identified RingCentral as a leader in its 2017 UCaaS Scorecard
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