RingRevenue has raised an additional $3.25 million in growth capital led by existing investors GRP Partners and Rincon Venture Partners. RingRevenue is a developer of call marketing automation solutions.
RingRevenue, the leading developer of call marketing automation solutions, today announced it has raised an additional $3.25 million in growth capital, led by existing investors GRP Partners and Rincon Venture Partners.
Driven by RingRevenue’s rapid growth over the past two years, GRP and Rincon have invested additional capital to help the company aggressively expand its sales, marketing and software development. RingRevenue more than tripled its year-over-year revenue from 2010 to 2011 and is on track to once again more than triple its annual revenue in 2012. For Q3 2012, the company posted its fifth consecutive quarter of 30-plus percent quarter-on-quarter revenue growth and expects this growth trajectory to continue.
“RingRevenue has not only pioneered an easy-to-use and cost-effective technology that helps businesses maximize their marketing investments, but they’ve also essentially carved out their own massive slice of the $300 billion advertising market,” said Rincon’s John Greathouse. “RingRevenue provides valuable, detailed, real-time analytics that help businesses optimize their ad spending, so they waste less time and money and know where to concentrate their efforts.”
U.S. consumers already make more than 30 billion calls a year to sales call centers, a number that is growing by billions of calls a year as mobile search makes it even easier to do the most natural thing with a phone – make a call. Because phone calls convert at 10-20 times the rate of online browser clicks, advertisers are willing to pay much more to drive leads via phone call. But, once that call comes in, it costs advertisers several dollars each time they answer the phone.
RingRevenue provides the best end-to-end solution for ensuring that money is spent wisely. RingRevenue makes it easy for marketers to set up, manage and adjust their marketing in real-time, with complete campaign management, clear attribution, and practical analytics that help businesses grow sustainable revenue across all online, offline and mobile marketing channels.
The platform has already handled millions of calls for Fortune 5000 companies, small and medium-size businesses, and many of the leading advertising networks. So far in 2012, advertisers have generated more than $200 million worth of sales by using RingRevenue’s technology.
Unlike typical call tracking tools that provide only a custom phone number and reporting, RingRevenue’s patented call marketing technology adds a real-time call quality-filtering engine. The cloud-based system lets advertisers set their own filters and rules to pre-qualify calls and ensure only high-quality incoming calls are delivered to an agent. RingRevenue can even instantly route calls to the right part of a call center, based on known call metrics. The customer segmentation system provides a complete, easy-to-use call quality management platform to help companies devote more time, attention and resources to serving callers most likely to convert to actual customers.
RingRevenue’s patented RingPool technology even enables advertisers to see not only the media source that drove each call, but also the search keywords that led the customer down the path of dialing the number—insight which helps marketers further fine-tune their SEO and pay-per-click ad spend.
“Our system enables advertisers to get the most from their media spend by effectively separating the wheat from the chaff to make sure they’re not just paying for leads but for actual customers,” said RingRevenue CEO Jason Spievak. “We’re very pleased that our investors continue to recognize not only the value of the service we provide to our customers but also the tremendous potential to grow our market presence.”
About RingRevenue RingRevenue is the industry-leading provider of call marketing automation technology. By tapping the power of the phone, RingRevenue’s patented technology captures and converts more high-value customers, improving every marketing campaign with better quality leads, higher conversions and increased ROI. RingRevenue’s comprehensive tracking and analytics consistently increase revenues from mobile, print and other “offline” media, while also improving the performance of online campaigns such as search, email and display.
Proven revenue-generating partnerships with Google, ValueClick, Rakuten Linkshare and others, make RingRevenue the leading call performance marketing solution for Fortune 1000 and Inc. 500 brands in the U.S.