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New milestone: RingCentral hits 5 million paid seats

Ring Central Blog

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4 min read

We love meeting big goals almost as much as we love exceeding market expectations. When we crossed five million paid RingCentral MVP® (Message, Video, Phone) seats, it validated the significant bets we placed on the transformative power of cloud-based unified communications and mobility in the enterprise. 

5 fun facts about RingCentral

Here are five fun facts announced by RingCentral’s CEO Vlad Shmunis during our earnings call this week, demonstrating RingCentral’s unique customer value we provide in global markets. 

  1. We are a $2 billion Annualised Recurring Revenue (ARR) company.
  2. RingCentral Contact Centre is now over $250 million ARR and is a key growth driver.
  3. RingCentral MVP now has more than 5 million paid seats.
  4. We matched our quarterly record of $1 million-plus total contract value (TCV) deals, bringing the total to almost 500.
  5. We delivered a record operating margin of 11.3% in Q2 2022, up 110 basis points (BPS) year-over-year.

Setting the trends

RingCentral MVP has established that it is the market-leading cloud-based communication solution for today’s hybrid workforce. Our success reflects a focus on four key mega-trends that are critical to businesses’ success today:

Helping businesses thrive

Video call from desktop with RingCentral App

 

The world is moving away from legacy on-premises communications in favour of modern cloud solutions that work the way people want to work. With RingCentral MVP, we redefined what’s possible and led the future of cloud-based unified communications:

Moving the needle

“Reaching five million seats sold for RingCentral MVP is a major milestone,” said Zeus Kerravala, principal analyst of ZK Research. “It’s amazing to think of the market opportunity ahead with more than several hundred million legacy on-premises seats out there – it shows that we’re still in the early innings of digital transformation as businesses migrate their communications systems to the cloud.”

We know from our own Customer Success Metrics study, conducted in April 2022, that customers see strong ROI by using RingCentral – including a compelling 41% increase in employee productivity and a whopping 69% increase in employee mobility. These benefits help explain why RingCentral MVP registered a 48% increase in customer satisfaction and a 57% boost in employee satisfaction over their previous solution.

The RingCentral 2022 Customer Success Metrics

This study of over 1,000 RingCentral customers demonstrates how we are moving the needle on business value metrics such as return on investment, employee productivity, workforce mobility, and customer experience.

Delighting our customers

Our customers tell us that the business benefits of RingCentral MVP deployments are also significant.

Reliability is job #1

While every organisation appreciates greater cost savings and enhanced employee mobility, especially for hybrid workers and globally distributed teams, business leaders tell us that reliability and continuity mean more now than ever.

No matter what, companies can’t operate without a reliable means of employee and customer communications. Our 16 consecutive quarters of 99.999% uptime for RingCentral MVP sets a gold standard for reliability that other providers can’t beat.   

More innovation to come

I’m proud of all these accomplishments and reaching new milestones. RingCentral’s journey to becoming the world’s No. 1 cloud business communications provider could not have happened without our global team, dedicated to delivering industry-leading innovation and serving our customers’ needs. And of course, none of this would be possible without our customers, who are revolutionising the business world today. We appreciate each and every one of you and remain committed to innovating our tools to meet your evolving needs as you grow.

Originally published 01 Sep, 2022, updated 07 Sep, 2022

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