Investment to further accelerate the company’s rapid growth
PLEASANTON, Calif. – January 19th, 2011 – Five9 Inc., the leader in on-demand call center software, announced today that it has raised $8.6 million in equity funding led by Adams Street Partners. Existing investors Hummer Winblad Venture Capital and Partech International also participated in the round. The announcement comes as Five9 closes out a three year period that saw the company triple its revenue and its customer base. The new capital, which brings total funding for Five9 to more than $37 million and comes on the heels of record momentum, will be used to further accelerate the company’s growth.
Five9 is revolutionizing call centers the way that Salesforce.com revolutionized customer relationship management. Five9 processes over one billion telephone calls per year for tens of thousands of call center agents worldwide and the Five9 Virtual Call Center is the leading cloud-computing based call center software offering on the market. Last year, Five9 was named to Inc. magazine’s list of America’s fastest-growing private companies and also was named to the San Francisco Business Times’ list of 100 fastest-growing private companies in the San Francisco Bay Area.
“As more and more enterprise call centers are shifting away from premise-based solutions and toward cloud-based solutions like Five9, we are uniquely positioned to capture a growing share of this market. This new capital allows us to accelerate that effort,” said Mike Burkland, CEO of Five9. “As we continue to grow, we are delivering ever-increasing benefits to our customers: lower costs, improved productivity and streamlined operations from deploying a cloud-based call center solution.”
“Five9 has solved a particularly difficult problem – handling extremely high volumes of real-time telephone conversations in the cloud, for mission-critical business applications. The company has demonstrated tremendous technical capability combined with prudent financial management that has produced sustained profitability through periods of high revenue growth and increasing market share. We are excited to be a partner with Five9 as enterprises increasingly turn to cloud-based call center solutions,” said David Welsh, Partner, Adams Street Partners.
As the largest pure-play SaaS provider to the call center market, Five9 continues to enhance its call center product portfolio based on market demand, customer and partner feedback, and a promise to offer companies of all sizes access to sophisticated and innovative call center solutions quickly, at a cost of ownership far lower than traditional premise-based solutions.
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 and Singapore.
Five9 is the leading global provider of on-demand call center software for telemarketing, customer service, and business continuity. The award-winning Five9 Virtual Call Center and Predictive Dialer serve customers of all sizes on five continents. Customers profit from Five9’s reliable, robust functionality that is fast, easy, and affordable to deploy. For more information, visit www.Five9.com. Like Five9? Tell your friends: www.Facebook.com/CallCenterSoftware
David Van Everen
All product and company names mentioned are the property of their respective owners.