Five9 Continues Growth, Surpassing Revenue Records with Industry-Leading AI Innovations, International Expansion, and Partner Acceleration
March 06 2024 - 7:00AM
Business Wire
Five9, (NASDAQ: FIVN), provider of the Intelligent CX Platform,
closed 2023 with strong growth and continued business momentum
leading into 2024. As enterprises continue to invest in customer
experience as a core business differentiator, Five9’s focus on
product innovation, ecosystem expansion with key strategic and
technology partners, and global investments has strengthened the
company’s market position for the year ahead.
“The team's unwavering dedication to expanding our business
through customer-centric innovation has been the cornerstone of
Five9's remarkable success in the past year,” said Mike Burkland,
Five9 CEO and Chairman. “The passion and dedication exhibited by
each member of the Five9 team have cultivated an unparalleled
culture of excellence, for which I am both proud and deeply
grateful. I am excited about a promising year ahead.”
Strong Financial Results, Customer Growth, and International
Expansion
In 2023, Five9 achieved a 17% year-over-year revenue increase to
a record $910 million, with strong product offerings, a vision for
growth, and high-value strategic relationships with customers and
partners. Key highlights:
- Enterprise subscription revenue grew 25% YoY; international
revenue grew 29% YoY; 183 customers generated over $1M in ARR to
Five9, representing more than 50% of recurring revenue
- Key investments in Five9’s international presence, notably the
new Engineering Hub in Porto, Portugal announced in January 2023.
Since its opening, headcount has increased by nearly 50%, a
reflection of Five9’s commitment to expanding both with regional
offices and by acquiring top talent across all regions.
- Continued channel expansion and market coverage via new and
expanded international partnerships with MCM Telecom and XTT Mexico
(LATAM), BT (Europe); TELUS International (Canada), and others
Industry-Leading Innovation
With the emergence of Generative AI, Five9 captured the appetite
of enterprises hungry to utilize the power of artificial
intelligence within the contact center. Through organic product
innovation and strategic acquisition, the company has continued
delivering high-value customer journey insights and analytics
solutions.
- Launched Agent Assist 2.0 with AI Summary. Using the same
generative AI technology behind ChatGPT, the solution summarizes
customer call transcripts in seconds, yielding a rapid time to
value by reducing manual, after-call work. YoY bookings growth for
Agent Assist accelerated in each of the last three quarters,
culminating in a 6X increase in Q4.
- Five9 launched enhancements to Five9 Workflow Automation (WFA)
in March – now a standard part of the Five9 Intelligent CX
Platform
- In August, Five9 announced the acquisition of Aceyus, which
will help customers bring together disparate data sources in a
unified view and streamline migrations to the Five9 platform
- Five9 also announced support for Deepgram’s powerful
speech-to-text engine, in addition to expanded product integrations
with Salesforce and ServiceNow
Expanded Partnerships
Five9’s partner ecosystem made great strides in 2023, supporting
the company’s march up-market and international expansion.
- Global partner sales certifications tripled YoY; partner
implementations doubled YoY; 51 partners booked more than $1
million in ACV
- Secured top sales performance accolades from Intelisys,
Telarus, and Avant, a reflection of Five9’s strong partner
relations
- Awarded Cloud Partner of the Year by Verint for the fourth
time
- Launched Five9’s Global University for partners, which provides
complete product information and a comprehensive training program
to enable partners in sales, implementation, and services
Industry Recognitions and Awards
In 2023, Five9 received 23 industry accolades and honors,
including being named:
- Leader in the Gartner Magic Quadrant for Contact Center as a
Service (August 2023), which hailed the company for its
"competencies in AI” and successful deployments in the
enterprise
- Growth and Innovation Leader in the European Cloud Contact
Center Market by Frost & Sullivan, and named a Leader in the
Frost Radar for Enterprise Cloud Contact Centers in North America,
2023
- Leader in the 2023 Aragon Research Globe™ for Conversational AI
in the Intelligent contact center
About Five9
The Five9 Intelligent CX Platform provides a comprehensive suite
of solutions to engage with customers across their channel of
choice, empower managers with insights and intelligence into
contact center performance, and elevate your business to deliver
better business outcomes and Bring Joy to CX™. Our cloud-native,
scalable, and secure platform includes contact center; omnichannel
engagement; Workforce Engagement Management; extensibility through
more than 1,400 partners; and innovative, practical AI, automation,
and journey analytics that are embedded as part of the platform.
Five9 brings the power of people, technology, and partners to more
than 2,500 organizations worldwide. For more information, visit
www.five9.com.
Engage with us @Five9, LinkedIn, Facebook, Blog
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version on businesswire.com: https://www.businesswire.com/news/home/20240306162715/en/
Suzie Linville Senior Corporate Communications Manager, Five9
Suzie.Linville@five9.com
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