US-based computing equipment conglomerate Cisco has invested in US-based cloud phone service RingCentral, as part of RingCentral’s $10m series D round, which closed on Thursday. Other participants in the round, which was led by Scale Venture Partners, included fellow venture capital firms Sequoia Capital, Khosla Ventures and DAG Ventures, as well as the Silicon Valley Bank. Cisco previously led RingCentral’s $10m series C round, in November 2010, with Khosla and Sequoia also taking part. Khosla and Sequoia invested in RingCentral’s $12m series A round, in 2007, and its $12m series B round in 2008. The latter round included participation from DAG too. RingCentral provides cloud-based on-demand phone systems for small and medium-sized businesses which incorporate e-mail, mobile and fax services, and is currently offered by telecommunications companies AT&T in the US, and Rogers Canada in Canada.
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Cisco answers RingCentral’s call
Sep 12, 2011 • Robert Lavine
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