|[April 19, 2012]
Cloud-based Contact Center Software Provider Five9 Raises an Additional $12M in Funding
SAN RAMON, Calif. --(Business Wire)--
Inc., the leading provider of cloud-based contact center software,
has announced the successful completion of an additional round of equity
financing, raising $12 million. The additional funding follows record
revenue growth in 2011 for Five9, exceeding 70 percent growth over 2010
revenues. With approximately 360 employees, including the largest
engineering team in the cloud contact center market, Five9 is focused on
revolutionizing the call center industry, as evidenced by its
exceptional customer success and remarkable growth trajectory.
The latest financing round was led by Adams
Street Partners with Hummer Winblad (News - Alert) Venture Capital and Partech
International also participating. In total, Five9 has raised more than
$49 million in funding.
"Five9 ended 2011 as the clear leader in the cloud contact center space,
with more customers and faster revenue growth than any other provider in
the market," said Five9 CEO Mike Burkland. "Demand for cloud-based
contact center software is accelerating as customers realize the
significant benefits: lower costs, improved productivity and streamlined
operations. The additional funding positions us well to take full
advantage of our momentum, and gives us an opportunity to expand our
current leadership position."
"Five9 is well positioned as the strongest solution for enterprises
looking to replace legacy on-premise Cisco, Avaya and Genesys (News - Alert) systems,"
said David Welsh, partner, Adams Street Partners. "The company has
demonstrated tremendous technical capability, combined with prudent
financial management, through periods of high revenue growth and
increasing market share. We are excited to partner with Five9 as
enterprises increasingly turn to cloud-based contact center solutions."
Five9 is revolutionizing cntact centers the way that Salesforce.com
revolutionized customer relationship management. Processing more than
two billion customer calls per year, for more than 1,500 customers
worldwide, the Five9 Virtual Contact Center is the leading cloud-based
contact center software on the market. In 2011, Five9 was named to Inc.
Magazine's list of America's fastest-growing private companies for the
second year in a row and also was named to the San Francisco Business
Times' list of largest software companies in the San Francisco Bay Area.
The company gives enterprises of all sizes access to sophisticated and
innovative contact center solutions quickly, at a cost of ownership far
lower than traditional premise-based solutions. For more information on Five9,
please visit www.five9.com
or call 1-800-553-8159.
is the leading global provider of cloud-based contact
center software for sales, marketing and support. The award-winning
Contact Center and Predictive
Dialer serve customers of all sizes on five continents. Customers
profit from Five9's reliable, robust functionality that provides the
best technology, improves agent productivity, and delivers business
Facebook (News - Alert): www.Facebook.com/CallCenterSoftware
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Twitter (News - Alert):
@CallCtrSoftware and @Five9_Inc
About Adams Street Partners
Adams Street Partners, LLC is a
leading private equity investment firm, providing primary and secondary
partnership and direct investment management services to institutional
clients. Adams Street Partners is one of the largest managers of private
equity investments in the world and has one of the longest histories.
Together with its predecessor organizations, Adams Street Partners has
been investing in private equity partnerships since 1979 and managing
direct investments in private equity since 1972. Adams Street Partners
has offices in Chicago, London, Menlo Park, Beijing and Singapore.
All product and company names mentioned are the property of their
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