Bangalore: Genesys®, a global cloud leader in customer experience orchestration, today announced a $ 580 million funding round, which aims to accelerate the company’s leadership in the customer experience market. global service experience. The oversubscribed round was led by Salesforce Ventures with participation from other ServiceNow Ventures investors; Zoom video communications; funds and accounts managed by BlackRock, D1 Capital Partners and another large West Coast US mutual fund manager. This offer values Genesys at $ 21 billion.
“Two years ago, we saw the challenge that businesses face in meeting the expectations of consumers and employees around digital experiences. We realized we had the opportunity to transform not only our company, but the entire industry, ”said Tony Bates, CEO and President of Genesys. “We believe this fundraising, including from leading strategic investors, validates the accomplishments we have made to date and will accelerate our continued efforts to expand and realize the vast market opportunity of experience as that service to come. “
Over the past two years, Genesys has undergone a significant transformation in its leadership, business model, solutions portfolio and ecosystem, which has resulted in strong growth. The company’s cloud and subscription bookings, which account for over 90% of total new bookings, grew over 100% year-over-year in the first half of fiscal 2022 (February 1, 2021 to February 31, 2021). July 2021).
Genesys also showcased the industry’s first multicloud architecture, delivered several hundred innovations to its customer experience platforms, released a new workforce engagement solution, and launched the Genesys DXTM solution, a product of conversational artificial intelligence (AI) and digital experience for new sales and marketing audiences. . The acquisitions have also improved the company’s capabilities in AI and experience orchestration.
“Customer expectations continue to grow exponentially around personalized, empathetic and connected experiences,” said John Somorjai, executive vice president of corporate development and Salesforce Ventures at Salesforce. “We believe that our investment in Genesys will help not only accelerate the success of the business, but also the success of our mutual customers.
Today’s announcement reflects the company’s continued commitment to improving its ecosystem through new and expanded strategic alliances, most recently with Google Cloud. Genesys has also launched initiatives for systems 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 offer customer or employee experiences with Genesys. Given the strength of Genesys cloud offerings, ecosystem and customer dynamics, strategic investments highlight business opportunities for new use cases, new industries, new buyers and new areas. geographic.
Genesys was advised by Goldman Sachs as exclusive placement agent and Skadden, Arps, Slate, Meagher & Flom LLP as legal counsel.