RingCentral has boasted of several high-profile UCaaS wins as it reports its quarterly earnings.
The vendor reported a sales increase of nine percent year on year for the quarter ending 31 December 2023, above the midpoint of its guidance.
On an earnings call with investors, returning CEO Vlad Shmunis highlighted the growth RingCentral has seen in the enterprise space, which is outpacing the wider business. Figures released ahead of the call showed that annualised recurring revenue (ARR) among enterprise customers topped $1bn for the first time.
Shmunis added colour to these figures by revealing UCaaS contract wins, albeit without naming the customers.
“One is the Fortune 100 insurance provider that purchased 20,000 UCaaS seats to connect its distributed broker network made up of thousands of field offices,” he said.
“Another one is a global 500 retailer that purchased 18,000 UCaaS seats to power communications across its more than 2,000 stores.
“And finally, a Fortune 500 global healthcare solutions company, who have added millions of dollars to their existing contracts.”
Shmunis also referred to a 15,000-seat deal won with Ikea in conjunction with Vodafone, with which RingCentral partners in Europe.
RingCentral classifies enterprise customers as those spending $100,000 in ARR. Shmunis said that the majority of these customers utilise RingCentral’s services in conjunction with Microsoft Teams.
“This strong presence with large customers and within the Microsoft Teams environment is a testament to the trust our Enterprise customers have in our products and our ability to add value to the Teams environment,” Shmunis added.
“Our new, advanced integration with Microsoft Teams is a key reason enterprise customers select RingCentral.”
The vendor now claims to count 20 percent of Fortune 1000 companies among its customers. Among these are two Fortune 1000 firms paying for RingCentral’s RingCX CCaaS platform at more than 1,000 seats each. RingCX now has 100 paying customers in total.
RingCentral’s share price has risen as much as eight percent since yesterday.
