VC-backed RingCentral unveils IPO

RingCentral has raised $98 million in its IPO, which debuted Friday on the New York Stock Exchange under the symbol "RNG." The company priced its IPO of 7,500,000 shares at $13 per share. Goldman, Sachs & Co., J.P. Morgan Securities and BofA Merrill Lynch are underwriters while Allen & Company and Raymond James serve as co-managers. Based in San Mateo, Calif., RingCentral, which is backed by Sequoia Capital, Khosla Ventures, DAG Ventures, Scale Venture Partners, Cisco and Silicon Valley Bank, is a provider of cloud communications solutions.

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