RingRevenue Dials Up $3.25M to Expand Its Call Marketing Automation

ringrevenue

by Matt Gallagher, Red Herring

RingRevenue, a provider of call marketing automation solutions that uses analytics to identify which callers offer the most promising leads, recently landed $3.25 million in funding in a round led by existing investors GRP Partners and Rincon Venture Partners. The company will use the new funding to grow its team and further evolve its platform.

RingRevenue uses a real-time quality-filtering engine that allows marketers to establish filters based on analytics to pre-qualify calls, ensuring that only the most promising leads are sent to an agent. Its system works as a quality management platform, and can instantly route calls to the right part of a call center based on the known metrics.

As “click to call” options on mobile search have grown in popularity, companies are receiving more phone leads, which tend to convert 10 to 20 times the rate of browser clicks. Yet each call costs advertisers several dollars just to answer the phone. RingRevenue targets the most promising leads, and ensures they are handled directly by an agent. As a result, the company delivers conversion rates of 20 percent, compared to 3.8 percent for paid search campaigns and 1.7 percent for email campaigns.

Such performance has enabled the company to triple its revenue every year since its beginnings in 2010. The company posted its fifth consecutive quarter of 30 percent quarter on quarter growth for the third quarter of 2012.

The platform has handled millions of calls for Fortune 500 companies such as such as Liberty Mutual and Enova Financial, leading advertising networks including Google and ValueClick, and small to mid-size businesses. Advertisers generated more than $200 million under the platform in 2012.

Its technology also shows advertisers not only the media source that drove the call, but also the keywords that led the consumer to dial the phone number, providing valuable SEO metrics to optimize SEO campaigns and pay per click ad spend.

The company plans to further expand the platform by offering deeper analytics, increased automation, and easier access to distribution, RingRevenue’s CEO CEO Jason Spievak indicated in an email interview with Red Herring. “We will continue to invest in providing them the most innovative, robust, and reliable call-based marketing platform that’s deeply integrated with the marketing and campaign management systems they already use,” Spievak said.

The company competes against Marchex and AT&T’s Ingenio, but Spievak said RingRevenue stands apart by offering a complete solution for call marketing automation, while others only focus on certain aspects of the call marketing process such as call tracking.

“Call tracking is just one piece of the pie. Our technology also provides analytics and optimization, quality filtering and routing, and distribution and syndication, to increase incremental revenue streams,” Spievak said. “By providing one, simple to use platform, we help businesses move beyond just call tracking. Our platform helps them to efficiently manage everything in one place, and really grow their business through call marketing automation. Aside from helping our customers to increase their revenue and improve their ROI, we also have fantastic support and account management teams, who build lasting relationships with our clients.”