Paris-based cloud communications provider Ringover has closed a €10 million Series A round, the company’s first venture funding since it got started as a telecom operator back in 2005. Expedition Growth Capital, a new London VC, was the sole investor.
In 2018, after three years of development, Ringover transformed to a SaaS product that now includes not just phone calls but video calls, chat and SMS. The tool allows enterprise companies to streamline business communication and customer interactions no matter where staff is located. It’s been adopted by over 10,000 businesses, according to a press release.
With the new capital, the French company wants to roll out new features to the platform, grow the team by 100 people, and expand its reach in countries such as Spain, the US and the UK, where a new office is slated to open this year.
The round is also the maiden investment of Expedition I, the first fund from the firm that was founded so recently that its website is still under construction.
Photo: Jean-Samuel Najnudel (Chairman) and Renaud Charvet (CEO)