Since its founding in 2001, Five9 has grown
into one of the premier cloud-based solutions for contact centers of businesses
searching for an alternative to traditional, premise-based options. With last
year’s decision to publicly list on NASDAQ still fresh on the mind of
investors, recently released numbers from last quarter reported $25.90 million
in revenue, which is a 22.7% increase from the previous year.
Today, Five9 looks to continue its innovation
and grow as an industry leader in virtual contact centers. With the 2013
acquisition of social engagement and mobile customer care solution provider
SoCoCare completed, expansion into mobile and social media customer bases will
provide a basis for continued growth within the rapidly expanding company, which
was mentioned on Deloitte’s 2012 Technology Fast 500™ list for most rapidly
growing tech companies in North America.
Five9’s growth comes as a result of its
purpose-built, highly scalable and secure Virtual Contact Center (VCC) cloud
platform, which delivers a comprehensive suite of tools to optimize customer
interaction across voice, chat, email, web, social media and mobile channels.
With these tools, clients have the ability to quickly adjust contact agent
seats in a variety of locales with just a computer, headset and internet
connection. With the large legacy on-premise contact center systems in place
throughout the world, expansion possibilities remain promising as the
transition to cloud-based systems becomes more common.
Since hitting the 500 customer milestone in
2006, Five9 has grown to over 2,000 customers worldwide as of January 2015; and
even with an estimated 3 billion customer interactions facilitated annually,
the company’s scalable business model leaves room for additional growth in the future.
Their Software-as-a-Service (SaaS) solution is provided with recurring
subscriptions based on agent seats and minutes of usage through the VCC cloud
platform. With recurring revenue and strong growth, Five9 has the potential for
enhanced financial forecasts.
According to the most recent available
reporting from 2014, the company had $74.83 million in revenue for the first
nine months of 2014 for a gross profit of $34.71 million, compared to $60.49
million in revenue and a gross profit of $24.33 million for the same period in
2013. An increase in working capital from $17.75 million at the beginning of
the first nine months of 2014 to $53.49 million at the end of the nine month
period can be attributed to the $71.46 million cash influx provided by the company’s
IPO.
Continued growth with the newly public company
is led by President and CEO Mike Burkland, who signed on with Five9 in January
2009. Since joining the company, Burkland has led the company’s strategic
direction, financial success and operational excellence with the knowledge and
experience gathered from leading a handful of enterprise software and cloud
companies in a variety of segments. He is joined by a team of executives with
decades of experience working to lead the company into a future of continued
expansion.
Five9 looks to remain on the cutting edge of
cloud solutions to customer service and communication. With honors including
inclusion on the San Francisco Business Times Fast 100 List for the past five
years, the company keeps its eyes focused on the shifting corporate culture
regarding more flexible, reliable off-campus customer interaction solutions.
For more information, visit www.five9.com
About
MissionIR
MissionIR is committed to connecting the
investment community with companies that have great potential and a strong
dedication to building shareholder value. We know our reputation is based on
the integrity of our clients and go to great lengths to ensure the companies
represented adhere to sound business practices.
Sign up for “The Mission Report” at www.MissionIR.com
