A French scale-up plans to open offices in three UK cities after raising £9 million VC investment.
Ringover, which combines unlimited calling, call centre tools, shared messaging and video conferencing into one application for SMEs, has increased revenues more than 800% since 2018.
More than 10,000 companies now use its software, which integrates with leading CRM and helpdesk tools – including Salesforce, Zendesk and Microsoft Dynamics – to boost productivity.
The Series A investment from Expedition Growth Capital is the first time the company has raised venture funding.
“Currently, Ringover has 90 UK clients in sectors including finance, consulting and eCommerce. We’re planning to expand quickly by opening an office in London this year,” co-founder and CEO Renaud Charvet told BusinessCloud.
“We are [also] planning to open offices in Manchester and Birmingham. We want to be close to our customers.
“Ringover wants to become the ultimate tool for enterprise communications for SMEs in the UK and around the world and having a physical presence in the UK will help strengthen our ability to support UK businesses in their operations.”
Ringover is looking to hire 18 people in marketing and sales in the UK in 2021.
The SaaS software publisher and European telecom operator was established in Paris by Charvet and chairman Jean-Samuel Najnudel with a goal to develop user-friendly communication solutions for professional teams.
In 2018, after three years of development, Ringover transformed the business phone system from a limited tool into a software product, accessible from anywhere.
The product has become the communication tool of choice for European SMEs with more than 250 million minutes passing through Ringover’s telecoms equipment annually. Customers include European tech recruitment platform talent.io and digital marketing platform Sendinblue.
The company recently added video calling and instant messaging to the platform. It says the integrated VoIP, video, chat and SMS communications solution has revolutionised the way businesses operate their sales and call centre functions thanks to advanced analytics and productivity tools.
Ringover is looking to grow its team by 100 globally as it expands its reach in countries such as Spain, the US and the UK.
“Ringover’s mission is to become a major player in enterprise communications through providing its all-in-one communications solution to SMEs around the world,” said CEO Charvet.
“The past year has demonstrated the need for scalable solutions, accessible anytime and anywhere, which are integrated with business tools to boost productivity.
“We look forward to working with Expedition Growth Capital to bring Ringover’s tech to more SMEs around the world to assist them in running their businesses in the most efficient way possible.”
Oliver Thomas, founder and managing partner at Expedition Growth Capital will join Ringover’s board of directors.
“This is the first investment from Expedition I, a software specialist growth equity fund, dedicated to partnering with founders like Jean-Samuel and Renaud, who have patiently built world class products in rapidly growing categories of business software,” he said.
“We have been impressed by the value customers derive from the Ringover platform, and by its increasing adoption by larger companies. We are delighted that the Ringover team has chosen Expedition as their first outside investor and look forward to supporting their continued success.”