RingCentral, a US-based cloud computing phone systems developer, has raised $10m in its series C round led by computer server company Cisco as a new investor, according to the company in a statement and its regulatory filing.
Cisco typically invests as a corporate venturer in early stage companies without much intellectual property and usually pre-customers but in areas that can develop into a very large market.
RingCentral, formerly known as Winportal Technologies, also said its other investors were venture capital firms Sequoia Capital, Khosla Ventures and DAG Ventures.
The company closed its series B round at $12m in 2008