04 March 2008

Hosted voice service firm RingCentral on Tuesday said it got $12 million in a second funding round led by DAG Ventures.

The new investment comes six months after the Redwood City,
California-based firm announced an identical  $12 million first funding
round which was led by Sequoia Capital and Khosla Ventures.

The Internet as a telephone service vehicle has attracted $893
million in VC funds in the last five years, according to Thomson
Financial. But observers see an increase in the last year in the
individual amounts being invested in Internet voice firms.