Software as a Service (SaaS) developer, Ringover, has completed a $21 million financing round, led by Orange Ventures and Bpifrance’s Large Venture and accompanied by historical investor Expedition Growth Capital.
This round of funding enables Ringover to step up its investment in research and development, particularly in the field of artificial intelligence (AI) and accelerate its international growth.
Since 2018, Ringover has supported corporate customer relations across all communication channels. With its revenue multiplying by eight in three years, and a successful first funding round of more than $10 million in 2021, Ringover welcomes two new investors.
Bpifrance’s Large Venture and Orange Ventures are rooted in tech culture and renowned for their support of global industry leaders. This funding brings Ringover’s total investment to more than $32 million in 2023.
“Ringover’s growth and execution since we invested two years ago has been impressive, quadrupling annual recurring revenue and significantly broadening its product suite,” said Oliver Thomas, managing partner at Expedition.
“Ringover has the technical and market expertise to become one of the world’s leading productivity suites for sales and customer care teams in small and mid-sized businesses worldwide,” added David Olsson, principal of Expedition, who will join the board of directors as part of this investment.
This is a pure equity investment, with no debt or subsidies, to enable Ringover to extend its technological DNA worldwide with a demanding and transparent roadmap. Its ambitions include:
- Creating a suite of SaaS tools to meet the full range of customer service and sales challenges. After focusing on sales prospecting challenges, creating two new tools at the beginning of the year, Ringover is working on new customer service-oriented products to round out its offering.
- Democratizing the use of AI in the day-to-day operations of sales and customer service divisions, paving the way for a true revolution in their working methods. By enabling them to focus on high-value tasks, artificial intelligence becomes an invaluable daily co-pilot.
- Consolidating quality of service with a range of advanced functions and integrations. Communication is no longer limited to traditional telephone conversations, as usage patterns evolve and communication channels multiply. Ringover aims to support companies in this transformation by providing one comprehensive tool that focuses on team performance and supervision.
- Fully commit to global expansion by establishing the infrastructures and teams in the United Kingdom, United States and Spain, while leveraging existing and future partnerships.
“Knowing sales performance and customer relations are undergoing major transformations, our priority is to remain attuned to our customers’ expectations,” said Renaud Charvet, CEO and co-founder of Ringover. “With this round of funding, we’re accelerating development while remaining true to our fundamental goal — to offer a powerful suite of customer relations tools, focused on team performance and enhanced by AI.”
To learn more about Ringover’s technology and its solutions, visit ringover.co.uk
