Genesys raises $580 mn led by Salesforce Ventures

Business software maker Genesys has raised $580 million in a funding round led by Salesforce Ventures, valuing it at $21 billion.
Genesys Cloud IndiaOther investors in the round included private equity firm ServiceNow Ventures, Zoom Video Communications, funds and accounts managed by BlackRock and D1 Capital Partners.

Genesys, which counts payments giant PayPal and Microsoft as its clients, offers a range of call center services through products driven by cloud technology.

Genesys, which provides services in partnership with industry giants including Accenture, Amazon Web Services, IBM and Verizon, said its cloud and subscription bookings more than doubled year-over-year from February till July 2021.

Genesys, which said its products are being used by 17 of the top 20 Fortune 500 companies has been looking to grow market share through acquisitions. Earlier this year, it bought AI-based chat software Bold360 to boost personalization of its customer engagement platform.

Genesys was acquired by private equity firm Permira Holdings from Alcatel-Lucent in a deal in 2012, valuing the company at about $1.5 billion.