LOS ANGELES, CA, RingDNA, a sales engagement and conversation analytics provider, has raised $30 million in funding.
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RingDNA, the leading sales engagement and conversation analytics provider, today announced that it has closed its growth equity round led by Goldman Sachs Growth Equity (GS Growth), a platform within Goldman Sachs' Merchant Banking Division, with participation from previous investors Palisades Growth Capital and Bryant Stibel. The funding comes as ringDNA's platform unleashes the modern, untapped goldmine of conversation data powered by artificial intelligence (AI) for all of its customers. Combined with current CRM outcome metrics, conversation data is truly revolutionizing customer engagement by providing actionable insights for every interaction. Until recently, this data was a complete "black box" for businesses. Now, progressive companies are exploiting it for an unprecedented competitive advantage. RingDNA's customers include Hewlett Packard Enterprise, Amazon Web Services, Autodesk, SAP Concur, Cvent, Lyft, and Twilio.
Howard Brown, Founder & CEO of ringDNA:
Science Can Inform the Art of Conversation
"Conversation data is truly the holy grail of business intelligence insights. Within it is the ability to quickly and effectively unlock insights from every conversation between customers, prospects, sales, and support teams. These insights will ultimately improve the customer's experience with a company. It's not about automation or removing humans from the processes of sales and customer service. Rather, it's about augmenting, contextualizing, and training our reps to be better.
Conversations are not as unique as we all assume. There are patterns to how prospects and customers communicate with sales and support reps. By analyzing millions of calls with deep learning, AI, and proven psychological principles, we are able to surface those patterns to optimize conversations for effectiveness and satisfaction of both parties. AI mines this valuable resource with every new conversation, allowing teams to continuously improve.
When teams focus on improving customer engagement, immediately surfacing insights from their own conversation data becomes crucial. Over the past five years ringDNA has processed over 60 million conversations, creating an exclusive conversation data network. RingDNA moves siloed sales processes such as CRM, marketing, and previously inaccessible voice data analysis into an end-to-end solution, resulting in better conversations that have led to exponential sales increases of 300 to 400%. Our customers understand that in order to succeed, the sales process needs to be guided by intentional coaching augmented with AI insights. It's the rich human interaction powered with insights learned that helps drive sales success."
Hans Sherman, Goldman Sachs:
"We continue to be very impressed with CEO Howard Brown and the entire ringDNA management team. The sales engagement space has become fairly opaque with automation often the focus of competitors. RingDNA is innovating around the value of meaningful and context-rich conversations coupled with advanced machine AI-driven training and supervision tools to accelerate a company's sales. We believe this is what makes them stand out and that this is where the growth will be. The fact that ringDNA has been cashflow positive for two years speaks to this reality."
Jeff Stibel and Kobe Bryant, General Partners, Bryant Stibel:
"When we led the initial investment for ringDNA in 2014, we did so because of a great entrepreneur, strong team and a large and untapped market opportunity. With this latest growth equity round from Goldman Sachs, ringDNA has added another world-class partner aligned with its goal of helping enterprise sales organizations analyze and learn from their game film to become smarter and more effective."
Anders Richardson, Palisades Growth Capital:
"We are thrilled to continue our partnership with Los Angeles innovators like Howard Brown and his team at ringDNA. Sales engagement platforms are the top priority investment for sales teams today, and ringDNA is innovating in the market with the best in class B2B sales acceleration and conversation analytics platform. We are excited to participate in their journey along with several other prominent partners, and they are poised to accelerate their growth with this latest round of funding."
Dana Clark, Director, Worldwide Sales Tools and Processes, Hewlett Packard Enterprise
"RingDNA's market-leading platform led our inside sales teams to net 400% more sales opportunities."
Jeff Lawson, CEO, Twilio
"RingDNA is a completely transformative solution for inside sales teams that helps reps close more deals."
Dallas Hogensen, Regional Vice President of Corporate Sales, Lyft
"RingDNA is our top sales technology, helping us drive 300% more revenue."
About Goldman Sachs Growth Equity
Founded in 1869, The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm. Goldman Sachs Merchant Banking Division (MBD) is the primary center for Goldman Sachs' long term principal investing activity. With nine offices across seven countries, MBD is one of the leading private equity investors in the world. Since 1986, the group has invested approximately $180 billion of levered capital across a number of geographies, industries and transaction types. Within MBD, Goldman Sachs Growth Equity (GS Growth) is a dedicated platform for venture capital and growth equity investments in leading companies that have built innovative technology or processes to transform their industries. Since 1994, GS Growth has partnered with more than 200 companies and invested more than $5 billion of capital across sectors including technology, software, media, healthcare IT, and business and information services. GS Growth seeks to partner with strong management teams to help companies achieve product, customer and geographic expansion. For more information about GS Growth, please visit: www.gs.com/gsgrowth.
About Palisades Growth Capital
Palisades Growth Capital ("Palisades") is a Los Angeles-based growth equity firm making investments in technology businesses primarily in Southern California. Palisades focuses on a variety of sectors including Software, Mobile, and Technology Enabled Businesses. More information on Palisades Growth Capital can be found at www.palisadesgrowth.com.
About Bryant Stibel
Bryant Stibel was founded in 2013 to provide strategic, financial, and operational support to businesses with a focus across technology, media, and data. The Bryant Stibel platform is unique in that it combines the creative vision of Kobe Bryant, one of the world's most well known and respected sports icons, with Jeff Stibel, a proven market-driven operator and three-time entrepreneur, alongside a team of proven public and private company executives. The team has extensive experience operating technology and data-driven businesses, as well as deploying capital through its growth and venture platforms. www.BryantStibel.com
RingDNA is the leading end-to-end sales engagement platform that combines enterprise-grade telephony with conversation intelligence. RingDNA helps teams engage with prospects and customers in the right way, at the right time, with the right context. Sales, support, and customer success teams use ringDNA to dramatically increase productivity, engage in smarter conversations, gain predictive insights, and coach reps to success faster than ever before. RingDNA was named to the "Hot 100" best privately held software companies by JMP Securities. The company was also named "One of The Best Privately Owned Companies in America" by Entrepreneur magazine. For more information visit www.ringDNA.com.