Cloud Based Contact Center Software Provider Registers with SEC

By CIOReview | Wednesday, March 5, 2014
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SAN RAMON: Five9, provider of cloud contact center software has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission relating to a proposed initial public offering of shares of its common stock. The registration is not yet active and thereby it is unlawful to sell securities and accept the offers for buying the shares under the securities laws of any state or jurisdiction.

Five9 is mainly into transforming contact centers into customer engagement centers of excellence. Unlike other traditional premise based systems, the company provides cloud based contact center services which in turn help in increasing productivity as well as reducing capital expense and maintenance costs. Some of the added advantages of Five9 services are interactive voice response, automatic call distribution, and outbound calling features.

In an interview to Sean Ludwig of Venture Beat, Mike Burkland, Five9′s CEO stated that market that the company is focusing is being dominated by vendors like Cisco and Genesys. But even then the company has grown quickly with $43 Mn in revenue in 2011 and $64 Mn in revenue in 2012, a growth rate of 67 percent.

With the help of Five9 solutions, companies can easily connect to the customers or clients via multiple channels like website, email, and chat system.

Moreover, Five9 services work in coordinance with customer relationship management analytics, workforce management, performance management solutions, and telephony providers, thus making the contact centers intact.

The company’s new venture of filing a registration can be considered as a means to expand its market. Once the registration gets activated, the shares of the company will be open to public.

J.P. Morgan Securities and Barclays Capital will be the joint book-running managers for the offering; while Pacific Crest Securities, Canaccord Genuity and Needham & Company will act as co-managers.