$8.6 Million Raised by Five9 through Adams Street Partners -Image via CrunchBase
Adams Street Partners, a private equity investment firm, led Five9 raise $8.6 million of equity funding. In addition, Five9 co-investors Hummer Winbald Venture Capital and Partech International also took part in the company’s equity funding increase.
After a three-year period, Five9 has tripled its revenue and customer base; this huge increase brings forth a new capital of more than $37 million to the company – making it to get-up and go after a larger growth.
Mike Burkland, CEO of Five9 said, “As more and more enterprise call centers are shifting away from premise-based solutions and toward cloud-based solutions like Five9, we are positioned to capture a growing share of this market”. In addition, Burkland stated that the company’s growth would deliver more increasing benefits to their consumers. These benefits would include: lower costs, improved productivity and streamlined operations from deploying a cloud-based call center solution.
Supporting the growth of Five9, David Welsh, Partner, Adams Street Partners said, “Five9 has solved a particularly difficult problem – handling extremely high volumes of real-time telephone conversations in the cloud, for mission-critical business applications”.
