As companies look for ways to save money, improve customer support and make administration of their contact center solutions easier, they have taken to cloud-based solutions – which allow them to accomplish all three goals – in droves. The cloud-based contact center solution industry’s growth is a testament to this, and some of its more important players have demonstrated strong demand for their solutions.

Cloud contact center solutions provider Five9 (News - Alert), Inc. this week reported results for the second quarter ended June 30, 2014. The company reported that total revenue for the second quarter of 2014 increased an impressive 22 percent to $24.7 million compared to $20.3 million for the second quarter of 2013. The annual dollar-based retention rate for the period ended June 30, 2014 was 98 percent, and the GAAP gross margin was 45.4 percent in the second quarter of 2014 compared to 39.8 percent for the same period in 2013.

The reasons for the robust growth cited were organic expansion as well as new additions to Five9’s product portfolio. This summer, the company introduced the latest version of its cloud contact center software. The Five9 Summer Release 2014 includes new native multichannel applications that support social, mobile, chat and email interactions. The new multichannel capabilities are powered by Five9 Connect, a technology layer that helps contact centers evaluate, prioritize and route requests. Additional major enhancements provided more mobility for supervisors and customized dashboards for better monitoring and reporting.

The company also won a number of new customers across the financial services, healthcare and education verticals, and enhanced its cloud infrastructure to deliver reliable and scalable contact center software to clients

"Our second quarter results demonstrated the ongoing strong demand for our integrated cloud-based software solutions,” said Five9 President and CEO Mike Burkland in a statement. “We experienced solid traction across our key drivers with continued success in adding new customers. Our momentum in customer wins continued to be fueled by strong cloud adoption in contact centers as increasingly more companies are drawn to the benefits of the cloud. The response to the Five9 Summer Release 2014 has been extremely positive. We believe that the combination of our huge market opportunity and compelling secular trends, coupled with our innovative multichannel cloud contact center software, position Five9 very well for long-term growth."

Five9 has been named one of the fastest growing companies on Deloitte (News - Alert)'s Technology Fast 500, ranking at number 242. The company will also be a participant in the upcoming ITEXPO, which takes place next week at the Rio in Las Vegas. Lance Fried, senior vice president of social and mobile at Five9, will be speaking on two thought leadership panels during the event, including the keynote panel on August 14. Fried will also join presenters from Genesys (News - Alert), SMSGate and Mobiquity on the August 11th panel, "Best Practices for Integrating Mobile into Customer Service." The panel will discuss best practices for integrating mobility into the customer service environment in order to ensure mobile users have a positive impact on the bottom line.