Venture Capital: Genesys Closes $580M Round Led By SalesForce Ventures
The round valued Genesys at $21 billion.
Call center and customer experience software provider Genesys Cloud Services announced Monday its close of a $580 million round led by Salesforce Ventures with participation by ServiceNow Ventures, Zoom Video Communications Inc., BlackRock, D1 Capital Partners and an unnamed West Coast-based large mutual fund manager. (Silicon Angle)
Genesys has achieved strong growth in its cloud and subscription bookings, which were up more than 100% year-on-year during the period February to July 2021. Cloud and subscription account for more than 90% of total new bookings at the company, which serves nearly 7,000 enterprise customers, including 17 of the top 20 Fortune 500 companies.
The latest round valued Genesys at $21 billion, a great payday for owners Permira and Hellman & Friedman, both private equity firms. While Permira invested in the company in 2012 at a valuation of $1.5 billion, Hellman & Friedman joined as an investor in 2016 through a $900 million investment at a valuation of $3.8 billion.
Genesys recently expanded its strategic alliance with Google Cloud, and acquired Pointillist, an AI-driven customer journey orchestration and analytics solution, and Exceed.ai, a cloud-based conversational AI platform for sales and marketing.
“Two years ago, we saw the challenge businesses faced in meeting the expectations of consumers and employees around digital experiences,” said Tony Bates, CEO and Chairman, in a statement. “We realized we had an opportunity to transform not only our company but the overall industry.”
Related Story: TalkDesk Raises $143M, Triples Valuation to $3B
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