Ringover is adding a new building block to its offering by integrating French start-up Target First. This move is part of the strong growth momentum that the SaaS publisher has built up since 2023. Experts from AURIS Finance, a merger and acquisition consultancy, analyse this new market development.
Ringover, a specialist in telephony and conversational intelligence solutions for businesses, has just announced the acquisition of Target First. This takeover marks a new milestone for the SaaS publisher, as it adds complementary modules to its platform, which already includes VoIP (Voice over Internet Protocol) telephony, instant messaging, and video conferencing. Founded in 2018, the innovative French company recently made a technological leap forward by enhancing its tools with artificial intelligence.
For Ringover, the acquisition of Target First marks the beginning of a broader growth strategy, with the aim of establishing itself as a comprehensive platform for customer communication tools.
An omnichannel offering
Founded in 2011 by Erwan Minier, Target First specialises in B2B conversational solutions, including chat, call-back services, chatbots and dynamic forms. Designed to improve the customer experience, its offering provides sales and customer relations teams with integrated, interactive dialogue channels. Originally from Saint-Brieuc, the company quickly expanded internationally. In 2012, the start-up joined an incubation programme in San Francisco. Target First also has a strong presence in the French tech ecosystem and is based at Station F in Paris. Various rounds of funding have supported its development. Operating in around 30 countries and working with over 300 major clients, Target First has developed cutting-edge technology based on its proprietary Generative AI platform. This technology offers users reliable and relevant answers, eliminating approximations and inaccuracies. By integrating Target First’s technology, Ringover is enhancing its offerings with tools for immediate contact and personalisation of user journeys.
First acquisition
With year-on-year revenue up by 30% in 2024, Ringover is committed to sustained growth. The group, which currently has 10,000 customers in 110 countries, intends to strengthen its position as a provider of conversational solutions for businesses in France and around the world. The acquisition of Target First is the group’s first transaction since its fundraising two years ago. In June 2023, Ringover reached a new milestone by raising €20 million in Series B funding. This was led by Orange Ventures and Bpifrance’s Large Venture fund, with participation from long-standing investor Expedition Growth Capital. Thanks to this financing round, the company plans to increase its investment in research and development, particularly in artificial intelligence, and to accelerate its international expansion, focusing particularly on the North American market.
Our experts at your service
The sector for business cloud telephony and conversational solutions is currently undergoing profound changes. Integrating artificial intelligence requires significant investment. In this context, large groups are seeking proven solutions and favour acquiring innovative companies. New developments could emerge in the coming months. AURIS Finance’s experts specialise by sector. They support you in developing your business, from identifying the target to its integration, including searching for financial partners.
