Venture Capital

Genesys Raises $580 Million, Valued at $21 Billion

SAN FRANCISCO — Genesys, a cloud-based provider of customer service and call center technology, has raised a $580 million round of funding. The 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 US-based West Coast mutual fund manager. This offering values Genesys at a valuation of $21 billion.

“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,” said Tony Bates, CEO and Chairman of Genesys. “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.”

Over the last two 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 fiscal year 2022 (February 1, 2021 to July 31, 2021).

Genesys also introduced the industry’s first multicloud architecture, delivered several hundred innovations across its customer experience platforms, released a new workforce engagement solution and launched the Genesys DX solution, a conversational artificial intelligence (AI) and digital experience product targeted at new sales and marketing audiences. Acquisitions also further enhanced the company’s capabilities in AI and experience orchestration.

“Customer expectations continue to rise exponentially around personalized, empathetic, and connected experiences,” said John Somorjai, EVP of Corporate Development and Salesforce Ventures at Salesforce. “We believe our investment in Genesys will not only help accelerate the company’s success but the success of our joint customers.”

Nearly 7,000 organizations around the world, including 17 of the top 20 Fortune 500 companies, now deliver customer or employee experiences with Genesys.