Santa Barbara-based RingRevenue is growing at a rate that even CEO Jason Spievak hadn’t fully anticipated.
To be sure, Spievak understands the value and significance of the marketing automation software company he helped found in 2007, which essentially better informs advertisers how customers came to find and employ their services.
RingRevenue has clocked 650 percent revenue growth in the past two years.
What he slightly underestimated was how quickly the employee ranks have doubled and the size of office space needed to accommodate such a boom.
Earlier this year, RingRevenue moved from a 3,000-square-foot space at State and Figueroa streets to 17,000 square feet at 1025 Chapala St. to accommodate hiring twice the number of employees — putting the total at 60.
Sitting in a first-floor office in the laid-back open space on a recent afternoon, Spievak told Noozhawk the company has already leased and begun renovating the upstairs second floor of what used to house Brown & Brown Insurance Services.
“We’ll take over the whole building,” he said.
RingRevenue expects to double its number of employees again within the next three to five years, when company executives most likely will be rooting around once more for a larger space.
It's not a bad problem to have.
“We’ve been head down growing here,” Spievak said. “We track calls like clicks. And nobody else does it. We saw that there was a very significant problem.”
Spievak and a team of fellow technology executives and UC Santa Barbara graduates created the company after identifying a need for advertisers to see real-time returns on their investments through inbound call monitoring. Many current RingRevenue employees played essential roles in starting the formerly the publicly held CallWave that is now a private company renamed Fuze Box.
RingRevenue’s patented cloud-based platform has been helped in no small part by the “click to call” option provided by smartphones.
“What makes it really powerful is the growth of mobile,” chief marketing officer Eric Holmen said.
Retaining happy, healthy share-holding employees is also important at RingRevenue, where the average age of most new hires is 25 and the perks of the job include a basement bar room, catered meals and camaraderie-building special events.
The company, which has a satellite office in Boston and remote employees throughout the country and world, taps top talent out of UCSB and tries to keep each employee challenged and motivated.
Spievak said the company’s future goals include hiring for positions in marketing, sales and software and adding more Fortune 1000 companies to a list that already includes DirecTV, Liberty Mutual Insurance and others.
“We’re pleased with the growth,” Spievak said.
RingRevenue soon will open a satellite office in the Bay Area and also plans to reach a $100 million revenue rate by the end of 2015.
The rate of growth so far leads executives to believe the company will have no issue reaching the lofty goal.