RingCentral Raises $12 Million From Khosla And Sequoia
On Monday, the company will announce they raised a $12 million series A financing from two highly respected firms, Khosla Ventures and Sequoia. RingCentral is also adding a new CFO, Dinesh Lathi, who was an ex-VP of eBay. They have currently provisioned over 100,000 numbers and serve over 40,000 paying customers with plans ranging from $9.99 per month to $24.99 per month.
With the recent acquisition of GrandCentral, VOIP as a utility instead of as a means for cheap calling rates has been a more successful strategy for the new telcos as of late. Virtual numbers, while requiring people to switch numbers, allow customers to use their phones without needing to download or adjust their calling behavior with new programs.
RingCentral is based in Redwood City and currently has 80 employees.