Software-as-a-Service (SaaS) developer Ringover has announced the completion of a €20 million funding round.
The round was led by Orange Ventures and Bpifrance’s Large Venture and accompanied by landmark investor Expedition Growth Capital. This new round of funding will enable Range Over to significantly increase its investment in research and development, particularly in the area of artificial intelligence (AI), and accelerate its international growth.
Since 2018, Ringover’s mission has been to support corporate customer relationships across all communication channels. With a doubling of its revenues by eight in three years, and a successful €10m first funding round in 2021, Ringover is now welcoming two new investors. Bpifrance’s Large Venture and Orange Ventures are both deeply rooted in the tech culture and renowned for their support of global industry leaders. This funding brings Ringover’s total investment to more than 30 million euros in 2023.
“We are delighted to continue our partnership with Ringover and to invest alongside BPI and Orange Ventures in this next phase of growth. Ringover’s growth and execution since we invested two years ago has been impressive, doubling annual revenue,” explained Oliver Thomas, Managing Partner at Expedition. Repeated four times and significantly expanded its product range.
“Ringover He has the technical and market expertise to become one of the world’s leading production suites for sales and customer service teams in small and medium-sized companies around the world,” added Expedition principal David Olson, who will join the board as part of this investment.
This is an exclusive equity investment, with no debt or subsidies, to enable Ringover to expand its technology DNA worldwide through a demanding and transparent roadmap. Its ambitions include:
- Create an unparalleled suite of SaaS tools to meet a full range of customer service and sales challenges. After focusing on the challenges of finding sales, and creating two new tools at the start of the year, Ringover is currently working on new customer-oriented products to complement its offering.
- The democratization of the use of artificial intelligence in the daily operations of the sales and customer service departments, paving the way for a real revolution in their working methods. By enabling them to focus on high-value tasks, AI becomes an invaluable everyday assistant.
- Solidifying service quality with a suite of advanced functionality 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 focused on team performance and stewardship. With integration capabilities already extended to more than 70 business tools, Ringover expects to double that number in 2023.
- Fully committed to global expansion by further establishing infrastructures and teams in the UK, US and Spain, while leveraging current and future partnerships.
“Knowing that sales performance and customer relationships are undergoing significant shifts, our priority is to remain in line with our customers’ expectations,” said Renaud Charvet, CEO and co-founder of Ringover. “Through this round of funding, we are accelerating development while staying true to our primary goal – to deliver a powerful set of customer relationship tools, focused on team performance and powered by artificial intelligence.”
Bolstered by this latest round of funding, Ringover’s dedicated team of approximately 300 employees remains committed to continuing to develop cutting-edge products that meet their clients’ needs in corporate communications, client relations, and sales research.
To achieve this, the company actively recruits new talent across all departments, with a third of the workforce focused on research and development. These efforts aim to innovate streamlined technologies infused with AI and machine learning, following the successful launch of Cadence and Empower in Q1 2023. This spirit of innovation has established Ringover as a trusted customer relationship partner for its 10,000 enterprise customers worldwide.
“We are excited to announce our investment in Ringover, an innovative company offering a complete omnichannel solution for enriching customer relationships. Orange Ventures aims to support talented teams and is excited to partner with a company that places growth and innovation at the heart of its strategy. “This investment will enable Ringover to benefit from the Orange Group’s technological expertise in telecoms and its knowledge of the B2B market in France and abroad,” said Clement Compale, partner at Orange Ventures.
Already established in Spain and the UK, the dynamic software innovator made the strategic decision to establish roots in Atlanta to achieve international growth goals. Under the guidance of CEO and co-founder Renaud Charvet, this new office will serve as a launching pad for Ringover’s significant expansion efforts across the Atlantic, opening up exciting new opportunities.
“We are delighted to support Ringover, a technology company with high potential, in its product launch and international expansion. Thanks to the sound management and firm commitment of its principals, this expansion is on its way to becoming a major player in the call center software market,” said Caroline Lebel, Chief Investment Officer at Bpifrance. .
