- Customer experience orchestration company Genesys recently announced a $580 million round of funding at a valuation of $21 billion. These are the details.
Genesys — a global cloud leader in customer experience orchestration — recently announced a $580 million round of funding, which is intended to accelerate the company’s leadership in the Experience as a Service market globally. This oversubscribed round was led by Salesforce Ventures with participation from other investors ServiceNow Ventures; Zoom Video Communications; funds and accounts managed by BlackRock, D1 Capital Partners, and another large mutual fund manager. This offering values Genesys at a valuation of $21 billion.
Over the last 2 years, Genesys has undergone a significant transformation across its leadership, business model, solution portfolio, and ecosystem, resulting in strong growth. The company’s cloud and subscription bookings, which make up more than 90% of total new bookings, grew more than 100% year-over-year in the first half of the fiscal year 2022 (February 1, 2021, to July 31, 2021).
Genesys also introduced the industry’s first multi-cloud architecture, delivered several hundred innovations across its customer experience platforms, released a new workforce engagement solution, and launched the Genesys DXTM solution, a conversational artificial intelligence (AI) and digital experience product targeted at new sales and marketing audiences. The acquisitions also further enhanced the company’s capabilities in AI and experience orchestration.
This announcement reflects the company’s ongoing commitment to enhance its ecosystem through new and expanded strategic alliances, most recently with Google Cloud. And Genesys has also introduced initiatives for system integrators, channel partners, technology partners, and independent consultants that provide them with a programmatic path to business as part of the ecosystem.
Nearly 7,000 organizations around the world – including 17 of the top 20 Fortune 500 companies – now deliver customer or employee experiences with Genesys. And given the strength of the Genesys cloud offerings, ecosystem, and customer momentum, the strategic investments highlight the commercial opportunities for new use cases, new industries, new buyers, and new geographies.
KEY QUOTES:
“Two years ago, we saw the challenge businesses faced in meeting the expectations of consumers and employees around digital experiences. We realized we had an opportunity to transform not only our company but the overall industry. We believe this fundraise, including raising from leading strategic investors, validates the achievements we have made to date and will accelerate our continuing efforts to expand and realize the vast Experience as a Service market opportunity ahead.”
— Tony Bates, CEO and Chairman of Genesys
“Customer expectations continue to rise exponentially around personalized, empathetic, and connected experiences. We believe our investment in Genesys will not only help accelerate the company’s success but the success of our joint customers.”
— John Somorjai, EVP of Corporate Development and Salesforce Ventures at Salesforce
