Description
Five9 is a provider of the intelligent cloud contact center.
Its product portfolio includes solutions for core cloud contact center, Workforce Optimization (WFO), Intelligent Virtual Agents (IVAs), Agent Assist, Workflow Automation (WFA), and digital-first omnichannel engagement. These solutions help businesses create more successful customer interactions, increase contact center productivity, and address customer experience transformation.
The company is headquartered in San Ramon, California, and has more than 1,500 employees worldwide.
History
Five9 was founded in 2001 by Gus Laredo, James Southworth, John Kim, and Ray Soto to provide cloud-based solutions that could replace legacy on-premise contact center systems. Since then, Five9 has built its reputation as a provider of call center services, integrating voice, chat and email into a platform for businesses of any size to handle customer interaction.
Five9 raised a total of $411.8 M in funding over 10 rounds, and went public in 2014 at a $330 million valuation, and the stock has done well since it listed.
From 2009 to 2019, the company’s annual revenue expanded at a CAGR of 33%. Product innovation, enhanced AI, automation, new service offerings, international expansion, and an industry-wide tailwind of organizations looking to modernize their contact centers have been key catalysts in driving the company’s growth.
In 2020, Five9 saw 45% growth in enterprise subscription revenues, as well as an 83% increase in enterprise business customers, with 91 customers representing over $1 Million in annual recurring revenue (ARR).
Five9 reached a new phase of growth now that cloud adoption has become the norm. The company saw revenue growth accelerate to 45% in the first quarter of 2021 amid a hot market.
