RingCentral marked a significant milestone today with an initial public offering
When Vlad Shmunis chose Scale Venture Partners to invest in the company, RingCentral had cracked the code on delivering a seamless state-of-the-art phone system for the modern, mobile workforce. But more importantly, they were at the intersection of three rising mega-trends that were transforming how business was being conducted - Cloud Computing in the enterprise, Software-as-a-Service across all business functions and ubiquitous, consumer-driven Mobile computing and telephony.
Businesses had new demands on their phone systems, demands that met the evolving needs of its users lifestyles. A similar transformation had happened a decade earlier with the wifi-revolution where corporate IT departments were inundated with employees demanding the same wireless internet access throughout the office as they had at home. RingCentral saw a similar opportunity to replace the dated, legacy telephony systems and provide businesses with the same reliability of said systems but with the flexibility and ease of any device, any where.
But the transformation of the workplace is ongoing, with the workplace itself is becoming more virtual — held together with software, internet communications, and the latest mobile devices. From the smallest business to the most entrenched enterprise, great innovations in productivity and communications continue and RingCentral will be there, innovating alongside its customers and working to keep them connected no matter how far they go.
Today we congratulate Vlad on reaching another remarkable milestone among so many great accomplishments he and his team have made. We're honored to have been a part of some of RingCentral's most crucial chapters and can't wait to see more of their story unfold.