RingCentral Files for Initial Public Offering

It has an impressive underwriting group. The firms named in the syndicate are Goldman Sachs & Co., J.P. Morgan, BofA/Merrill Lynch, Allen & Company and Raymond James.

RingCentral offers a software-as-a-service (SaaS) solutions for business communications supporting distributed workforces, mobile employees and the proliferation of “bring-your-own” communications devices. Its flagship product is RingCentral Office, a multi-user enterprise-grade communications solution to communicate with voice, text and fax on multiple devices including smartphones, tablets, PCs and desk phones.

The company has a diverse and growing customer base made up of more than 300,000 businesses in a wide range of industries. Its main focus is the market for small and medium-sized businesses of under 1,000 employees in the U.S. and Canada. It claims to be making investments to target larger customers and it believes that it can see an additional growth opportunity in international markets.

Revenue was $50.2 million in 2010, $78.9 million in 2011, and $114.5 million in 2012. For the six months ended June 30, 2012. and 2013, its total revenues were $51.8 million and $73.2 million, respectively. For the same six-month periods its net losses were $18.7 million and $23.9 million, respectively.