Total amount raised
$453.7 Million
Latest funding date
08/01/2023
Location
RingCentral has successfully raised funds through 11 rounds, with notable investors including Morgan Stanley, Wells Fargo, Bank of America, and JP Morgan. The latest funding round was a Post-IPO Debt round, further solidifying their financial standing.
RingCentral's AI-powered cloud communications platform is trusted by over 500,000 companies globally, offering a comprehensive suite of tools for business communications. Keep reading to explore the intricacies of RingCentral's fundraising journey and the investors backing this innovative platform.
What Is RingCentral?
RingCentral, based in Belmont, California, is a prominent provider of enterprise cloud communications and collaboration solutions. The company operates in various industries, including Cloud Computing, Collaboration, Enterprise Software, Meeting Software, SaaS, and VoIP.
Founded by Vlad Shmunis, RingCentral has grown significantly, now employing between 1001 and 5000 people. The company is publicly traded under the ticker NYSE:RNG and serves over 500,000 customers worldwide with its AI-powered communication tools.
How Much Funding Has RingCentral Raised?
- Series A
- Amount Raised: USD 12,000,000
- Date: September 2007
- Lead Investors: Khosla Ventures, Sequoia Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and launch their initial product offerings.
- Series B
- Amount Raised: USD 12,000,000
- Date: March 2008
- Lead Investors: DAG Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their market reach and enhance product features.
- Series C
- Amount Raised: USD 10,000,000
- Date: October 2010
- Lead Investors: Cisco
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and improve infrastructure.
- Series D
- Amount Raised: USD 10,000,000
- Date: September 2011
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and enter new markets.
- Debt Financing
- Amount Raised: USD 9,700,000
- Date: August 2012
- Lead Investors: TriplePoint Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing operations and product development.
- Series E
- Amount Raised: Not publicly disclosed
- Date: November 2012
- Lead Investors: Hermes Growth Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fuel international expansion and strategic initiatives.
- Secondary Market
- Amount Raised: Not publicly disclosed
- Date: December 2012
- Lead Investors: Akkadian Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
- Post-IPO Equity
- Amount Raised: Not publicly disclosed
- Date: May 2023
- Lead Investors: Sylebra Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To strengthen financial position and support growth initiatives.
- Post-IPO Debt
- Amount Raised: USD 400,000,000
- Date: August 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To repurchase and/or repay a portion of its outstanding convertible notes and for general corporate purposes.
- Post-IPO Debt
- Amount Raised: USD 1,240,000,000
- Date: September 2025
- Lead Investors: Bank of America, JP Morgan
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance financial stability and support long-term growth strategies.
Total Amount Raised: USD 1,803,700,000. Current Valuation: Not publicly disclosed.
Key Investors
- Morgan Stanley
- Details: Morgan Stanley is a leading global financial services firm providing investment banking, securities, wealth management, and investment management services. The firm operates in over 41 countries and has more than 60,000 employees.
- Investment Focus Areas: Technology, Healthcare, Financial Services
- Notable Investments: Airbnb, Uber, Facebook
- Wells Fargo
- Details: Wells Fargo is a diversified, community-based financial services company with a history dating back to 1852. It provides banking, investment, mortgage, and consumer and commercial finance services.
- Investment Focus Areas: Financial Services, Real Estate, Technology
- Notable Investments: Stripe, Robinhood, WeWork
- Bank of America
- Details: Bank of America is one of the world's leading financial institutions, serving individual consumers, small and middle-market businesses, and large corporations with a full range of banking, investing, asset management, and other financial and risk management products and services.
- Investment Focus Areas: Financial Services, Technology, Healthcare
- Notable Investments: Apple, Amazon, Google
- JP Morgan
- Details: JP Morgan Chase & Co. is a leading global financial services firm with assets of $2.6 trillion and operations worldwide. The firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management.
- Investment Focus Areas: Technology, Healthcare, Financial Services
- Notable Investments: Twitter, Square, Palantir
- Sylebra Capital
- Details: Sylebra Capital is a global investment management firm that focuses on long-term investments in technology and innovation-driven companies. The firm is known for its deep research and concentrated investment approach.
- Investment Focus Areas: Technology, Biotechnology, Consumer Goods
- Notable Investments: Not publicly disclosed
What's Next for RingCentral?
RingCentral is poised to capitalize on the growing reliance on cloud-based business communications and AI-powered conversation intelligence. With a recent $400 million offering, the company aims to repurchase outstanding convertible notes and invest in strategic acquisitions, enhancing its market presence and capabilities.
Future fundraising opportunities are likely as RingCentral continues to explore strategic transactions to support its growth. However, the company may face challenges such as market conditions, regulatory hurdles, and competition in the cloud communications sector. Despite these obstacles, RingCentral's focus on innovation and strategic investments positions it well for sustained growth.
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