RingCentral Revenue Rockets

Tom Wright

Sales climb 36 percent

RingCentral Breaking News
RingCentral Revenue Rockets

RingCentral saw its revenue rocket 36 percent in Q2 as partnerships with the likes of Avaya, Atos and BT flourished.

Sales for the period ending 30 June 2021 hit $379m, while subscription revenue rose 37 percent to $315m.

Vlad Shmunis, RingCentral CEO, said: “Second quarter results were outstanding, as contributions from our upmarket momentum and key partners including Avaya, Atos, AT&T, BT, and Telus continued to increase,”

“As businesses embrace hybrid workforces, they require next-generation mobile-first platforms that support team messaging, video meetings, and phone system capabilities.

“RingCentral, with its unparalleled track record of trust, innovation, and partnerships, and its differentiated MVP platform, now seamlessly integrated with an industry-leading cloud contact centre solution, is uniquely positioned to meet these communication and collaboration needs”

Schmunis said that RingCentral Office annualised recurring revenue is now at $1.4bn.

He added that RingCentral delivered a record number of $1m total-contract deals in the quarter, including one contract worth over $10m.

RingCentral execs were quizzed about Zoom’s recent announcement regardings its pending acquisition of Five9, claiming the deal validates its strategy of merging UC with CC.

Anand Eswaran, COO at RingCentral, said: “Zoom and Five9 have been partners for two-plus years and we are actually pretty thrilled about our win rates against them over the last two and a half years.

“The other thing that I would probably offer up is, if you just look at our strategy, we’ve been working with NICE inContact for six plus years. We saw this UC + CC trend long before it has become fashionable as it is right now.

“We just extended our partnership for a long time to come with NICE inContact and we’re seeing great pipe.”

Eswaran added that RingCentral is capitalising on the opportunity around Microsoft Teams.

“Microsoft has a huge Teams installed base, as we all know, and with the ability to integrate with Microsoft Teams via direct routing that’s a tailwind for us,” he said.

“Accelerating momentum for RingCentral MVP integrated with Microsoft Teams Direct Routing, which is effectively opening up incremental upmarket opportunities.”

RingCentral has key partnerships with the likes of Alcatel-Lucent Enterprise, Avaya and Atos, which use its Cloud Office product as part of their own UC offering.

It also recently launched a bring-your-own-carrier offering with Bandwidth.



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