RingCentral raises $10M to grow business telephony

Growth-stage round led by Scale Venture Partners to help company expand its cloud phone service

RingCentral, provider of a cloud-based platform for business phone systems, announced Friday that it has raised a $10 million round of Series D funding led by Scale Venture Partners. Previous backers, including Sequoia Capital, Khosla Ventures, Cisco, DAG Ventures and Silicon Valley Bank, also participated.

In total, the company has raised over $55 million.

Features offered by RingCentral run the gamut, but it’s all the things you’d expect from an expansive telephony service for business.

Grab a toll-free number (800, 888, etc.) or a local number for customers to reach you, make and receive calls anywhere where there’s Internet access, see caller ID, manage voicemail visually, get notified over email or SMS about calls, enable call forwarding completely transparently, set up an auto-receptionist, play music for waiting customers and on and on. The list of features goes on long.

It’s all about giving small- to medium-sized businesses access to a phone system on par with those employed by the enterprise.

Pricing plans vary depending on the customer’s needs. For three or less users, RingCentral charges $50 per month per user. For under 20 users, it’s $30 per month per user, and for anything higher than that, it’s $25 per month per user. Wary businesses are free to try the service for 30 days at no risk.

“The days of on-premise PBX’s and unwieldy phone equipment are over — businesses need a cost effective and nimble phone system for today’s mobile world,” said RingCentral CEO Vlad Shmunis. “Over the past year, we have seen strong growth in adoption of our solutions from businesses in virtually every category, from mom-and-pop retailers to 200+ person companies. We decided to raise additional capital to further drive our expansion efforts.”

Hear about the RingCentral experience directly from the mouths of customers on the company’s website. (Just don’t expect to see any noteworthy household names.)

A model Series D round, the new funding will directly fuel growth-stage acceleration efforts.