Investing in the rapid growth of Ruby Receptionists, the voice of small businesses across the nation, Updata Partners has acquired a majority share of the receptionist services company for $38.8 million with co-investment from StepStone Group. Supporting our dramatic success, Ruby has doubled our revenue and staff over the past two years, delivering live virtual receptionist services to thousands of small businesses throughout North America. We will leverage the investment to continue to accelerate, evolve and expand our proprietary software and highly personalized service offering for small businesses.
“From our personalized services to award-winning culture, the team at Updata understands what makes Ruby so unique and successful,” said Jill Nelson, Ruby’s Founder and CEO. “They have an impressive track record of helping technology companies innovate and grow, and we’re excited to bring their wealth of experience to Ruby as we continue to evolve our world-class service for our clients and their customers.”
Founded in 2003, Ruby is the ambassador of first impressions for small businesses throughout North America, leveraging proprietary software to empower our staff to create meaningful connections with every call. With two offices in the Portland area, we are dedicated to creating a positive, empowering workplace that enables our staff to succeed from our paid “Five at Five Sabbaticals” and WOW Station to our in-house fitness programs. We’ve gained national recognition for our culture as a top three Best Small Company to Work for in the U.S. for three years running as featured in FORTUNE Magazine and were recognized for our success by the Portland Business Journal as one of Oregon’s fastest growing companies for the past seven years.
“In a world where customer service is becoming automated and impersonal, Ruby brings a high-touch, personal solution that gives small businesses a competitive edge,” said Jon Seeber, partner at Updata Partners. “Ruby is run by a world class executive team with proven growth and performance for over a decade, and Updata looks forward to offering additional firepower to help Ruby innovate and expand even faster.”
“We focus on high-growth technology companies with proven success and are thrilled to be investing in Ruby Receptionists, building on more than a decade of financial performance,” said Carter Griffin, partner at Updata Partners. “Serving the largest segment of the U.S. economy, Ruby uniquely leverages custom technology to deliver a personalized, seamless experience for small businesses and their customers.”
“Contrary to popular belief, inbound calls are the most valuable lead source for small businesses, and Ruby Receptionists provides a reliable, cost-effective solution by seamlessly answering inbound calls and ensuring prospects have the best possible experiences,” said John Coelho, partner at StepStone Group. “Ruby’s remarkable culture and commitment to customer service is truly best-in-class, and StepStone is pleased to support Ruby in its next phase of growth.”
Updata and StepStone will offer strategic counsel from the board level, delivering expertise and access to new technologies to support Ruby’s evolution and continued growth. We’re happy to continue making an impact in our community and creating meaningful connections with every call—and we’re thrilled that these additional resources will open up new avenues to deliver exceptional client experiences!