RingDNA Raises $30 Million In Growth Capital
RingDNA, the leading sales engagement and conversation analytics provider, 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.”