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Five9 Secures Additional $34.5 Million in Funding

May 29, 2013

By Blaise McNamee,
Web Editor

Cloud contact center software provider Five9 revealed today, May 29,  2013, that it has raised $34.5 million in private funding from SAP (News - Alert) Ventures, an independent venture capital firm that invests in innovative and disruptive software and services companies globally. 

SAP was joined by existing investors Adam Street Partners, Hummer Windbald Venture Partners, and Partech International. The $34.5 million in funding is comprised of $22 million in series D equity and $12.5 million in a bank revolver debt facility provided by City National Bank.

Jai Das, managing director at SAP Ventures commented, “Five9 (News - Alert) is transforming the contact center of the future. The company is driven by a passion to turn contact centers into customer engagement centers of excellence, plus they have unparalleled experience in using the cloud delivery model in contact centers. We are excited to partner with a clear market leader that is disrupting this very large market.”

This funding will undoubtedly help fuel Five9’s mission to take companies’ customer service, sales, and marketing centers to the cloud. Five9 offers hosted contact center solutions that handle both inbound and outbound calls with a host of features, including on-demand interactive voice response (IVR), automatic call distribution (ACD), call monitoring, reporting and customer relationship management (CRM). The company already boasts over 1,800 clients, servicing three billion contact center interactions annually. Moreover, the new funding will likely allow Five9 to add to its current staff of 450 employees, which is comprised of industry veterans and business processing outsourcing (BPO) experts .

“In the contact center market, Five9 is championing the switch from on premise to the cloud. We are seeing tremendous adoption; in fact, we now facilitate over three billion customer interactions in the cloud, annually,” said Mike Burkland, president and CEO of Five9. “Contact centers of every type are seeing the value of moving to the cloud, that is why Five9 continues to add clients at record pace.”

Edited by Jamie Epstein