Genesys Raises $580 Million, Valued at $21 Billion

<p><strong><span class&equals;"xn-location">SAN FRANCISCO <&sol;span><&sol;strong>&&num;8212&semi; Genesys&comma; a cloud-based provider of customer service and call center technology&comma; has raised a <span class&equals;"xn-money">&dollar;580 million<&sol;span> round of funding&period; The oversubscribed round was led by Salesforce Ventures with participation from other investors ServiceNow Ventures&semi; Zoom Video Communications&semi; funds and accounts managed by BlackRock&comma; D1 Capital Partners and another large US-based West Coast mutual fund manager&period; This offering values Genesys at a valuation of <span class&equals;"xn-money">&dollar;21 billion<&sol;span>&period;<&sol;p>&NewLine;<p>&&num;8220&semi;Two years ago&comma; we saw the challenge businesses faced in meeting the expectations of consumers and employees around digital experiences&period; We realized we had an opportunity to transform not only our company but the overall industry&comma;&&num;8221&semi; said <span class&equals;"xn-person">Tony Bates<&sol;span>&comma; CEO and Chairman of Genesys&period; &&num;8220&semi;We believe this fundraise&comma; including raising from leading strategic investors&comma; 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&period;&&num;8221&semi;<&sol;p>&NewLine;<p>Over the last two years&comma; Genesys has undergone a significant transformation across its leadership&comma; business model&comma; solution portfolio and ecosystem&comma; resulting in strong growth&period; The company&&num;8217&semi;s cloud and subscription bookings&comma; which make up more than 90&percnt; of total new bookings&comma; grew more than 100&percnt; year-over-year in the first half of fiscal year 2022 &lpar;<span class&equals;"xn-chron">February 1&comma; 2021<&sol;span> to <span class&equals;"xn-chron">July 31&comma; 2021<&sol;span>&rpar;&period;<&sol;p>&NewLine;<p>Genesys also introduced the industry&&num;8217&semi;s first multicloud architecture&comma; delivered several hundred innovations across its customer experience platforms&comma; released a new workforce engagement solution and launched the Genesys DX solution&comma; a conversational artificial intelligence &lpar;AI&rpar; and digital experience product targeted at new sales and marketing audiences&period; Acquisitions also further enhanced the company&&num;8217&semi;s capabilities in AI and experience orchestration&period;<&sol;p>&NewLine;<p>&&num;8220&semi;Customer expectations continue to rise exponentially around personalized&comma; empathetic&comma; and connected experiences&comma;&&num;8221&semi; said <span class&equals;"xn-person">John Somorjai<&sol;span>&comma; EVP of Corporate Development and Salesforce Ventures at Salesforce&period; &&num;8220&semi;We believe our investment in Genesys will not only help accelerate the company&&num;8217&semi;s success but the success of our joint customers&period;&&num;8221&semi;<&sol;p>&NewLine;<p>Nearly 7&comma;000 organizations around the world&comma; including 17 of the top 20 Fortune 500 companies&comma; now deliver customer or employee experiences with Genesys&period;<&sol;p>&NewLine;