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Ringover raises €20 million and continues its global expansion

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Ringover raises €20 million and continues its global expansion


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With this €20 million funding round led by Orange Ventures, Large Venture (Bpifrance), and our long-standing investor Expedition Growth Capital, we are intensifying our R&D investment, particularly in AI, to revolutionise the way you conduct business and enhance your revenue generation. This represents a significant milestone for Ringover, as we solidify our leadership position both nationally and internationally.

A complete suite of tools to reinvent customer relations 

Since 2018, Ringover has remained committed to providing you with the best solutions to support your customer relations and boost your sales performance. What drives us? Empowering you to derive insights and value from every customer interaction.

To achieve this mission, we have devoted substantial resources that have facilitated our exponential growth, with our revenue multiplying eightfold within a span of three years. In 2021, an initial Series A round of funding validated these efforts and enabled us to expand internationally. Two years later, we have new backers: Orange and Bpifrance are joining Expedition Growth Capital in this adventure.

“We are thrilled to continue our partnership with Ringover and to be investing 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, quadrupling annual recurring revenue and significantly broadening its product suite,” explained 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 an unrivalled suite of SaaS tools to meet the full range of customer service and sales challenges. In recent months, you've seen the beginnings of this with the successive launches of Cadence, our sales prospecting tool, and Empower, our AI-based conversational analysis solution. And we’re only getting started. Our teams are already hard at work developing new customer service-oriented products to enrich your experience.
  • Democratising the use of AI in the day-to-day operations of sales and customer service divisions. Why are we doing this? The answer is straightforward: AI is not merely a passing fad, and by integrating it extensively into our tools, we can adopt more efficient work practices. Artificial intelligence serves as a valuable co-pilot, freeing your staff from mundane tasks and allowing them to concentrate on activities that truly contribute value.
  • Consolidating quality of service with a range of advanced functions and integrations. We are living in an age where prospecting and customer relations have evolved beyond a mere series of phone calls. Customer behaviours are continuously evolving, and communication channels are diversifying. Our aim is to support you in this transformation by providing you with all the tools and functionalities you need to improve your customers' experience, supervise your teams and achieve better results, all in a single solution. Ringover already integrates with more than 70 business tools (CRM software, helpdesks, productivity) and aims to double this figure in the coming months.
  • Pursue our global expansion by developing local teams and infrastructures, and relying on our growing network of partners.

"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."  

Investing in R&D and conquering the American market

To achieve these ambitious goals, we have strengthened all our teams. Ringover now boasts a workforce of nearly 300 dedicated individuals. We are actively recruiting in all departments, and at present, one-third of our staff is focused on research and development.

We operate as a laboratory where we conceive and develop our own technologies, centred around AI and machine learning. Within this dynamic environment, our two latest products, Cadence and Empower, were born.

Thanks to our commitment to R&D, Ringover has established itself as a trusted partner in customer relations for its 10,000 corporate customers worldwide. It is also this technological know-how that has attracted our new investors:

"We are very pleased to announce our investment in Ringover, an innovative company offering a complete, multi-channel solution for enriching customer relations. Orange Ventures aims to support talented teams and is delighted to enter into a partnership 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 Clément Combal, Partner at Orange Ventures.

"We are delighted to be supporting Ringover, a high-potential technology company, in its product launches and international expansion. Thanks to sound management and the unwavering commitment of its directors, this scale-up is well on the way to becoming a key player in the contact centre software market," said Caroline Lebel, Investment Director at Bpifrance.

As earlier mentioned, our international expansion strategy involves establishing strategic operations in key locations. In addition to our existing presence in France, Spain, and the UK, we are excited to have successfully established an office in Atlanta. This new branch, under the guidance of Renaud Charvet, one of the co-founders of Ringover, will serve as a launchpad for expanding our operations in America and unlocking fresh opportunities.

Moving forward together 

We have big ambitions, but as you will have gathered the information shared, successive investments have not altered our DNA, nor our desire to offer companies the best tools to unlock the potential of their teams and perform to their fullest potential. 

We have reached our current position of success, in part, thanks to you. We extend our heartfelt gratitude for all your suggestions and feedback, which have played a crucial role in our achievements thus far.

We can't wait to tell you all about the surprises to come. In the meantime, we invite you to stay tuned for our forthcoming communications.

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