Genesys Secures $580 Million in Funding from Salesforce, Zoom, More

Cloud contact center provider Genesys has secured $580 million in funding from Salesforce Ventures, Zoom and others, at a company valuation of $21 billion.

Over the last two years, Genesys has transformed across its leadership, business model, solution portfolio and ecosystem. 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.

Genesys also introduced its multicloud architecture and delivered several hundred innovations across its customer experience platforms. Moreover, it released a new workforce engagement solution and launched the Genesys DXTM solution. That’s an 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. Among its acquisitions were Interactive Intelligence, Bold360 from LogMeIn, and Pointillist and Exceed.ai.

Funding Validates Achievements

Tony Bates is Genesys’ CEO and chairman.

“Two years ago, we saw the challenge businesses faced in meeting the expectations of consumers and employees around digital experiences,” he said. “We realized we had an opportunity to transform not only our company but the overall industry. We believe this fund raise, 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.”

The Genesys funding will accelerate the company’s market leadership globally. Furthermore, it plans additional cloud contact center integrations across a number of Google Cloud services and technologies.

Last month, Genesys and Good Cloud said they’re collaborating on new ways to apply AI, machine learning (ML) and data analytics. They have several goals in mind. Those include automating customer care, enabling predictive customer satisfaction and AI-driven multifactor authentication. Another is creating new conversational channels that use Google Search, Maps and more.

John Somorjai is executive vice president of corporate development and Salesforce Ventures at Salesforce.

“Customer expectations continue to rise exponentially around personalized, empathetic and connected experiences,” he said. “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. The strategic investments highlight the commercial opportunities for new use cases, industries, buyers and geographies, the company said.