Draft:Five9

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Five9
TypePublic
Nasdaq: FIVN
IndustryEnterprise software / Contact center
Founded2001
Area served
Worldwide
Revenue$1.03 billion (2024)
Number of employees
2600+ (2024)
Websitefive9.com

Five9, Inc. is an American software company that provides cloud-based contact center solutions for customer experience (CX) management.[1] The company is headquartered in San Ramon, California, with offices in Brazil, Canada, Germany, India, Philippines, Portugal, Spain, and the United Kingdom.[2] As of December 31, 2024, Five9 reported serving over 3,000 customers across multiple industries.[2]

Five9 operates in the contact center as a service (CCaaS) market alongside providers such as NICE, Genesys, and Amazon Web Services.[3]

History

Five9 was founded in 2001 by Gus Laredo, James Southworth, John Sung Kim, and Ray Soto.[4]

Prior to its IPO, Five9 raised approximately $71 million across multiple funding rounds from investors including Hummer Winblad Venture Partners, Adams Street Partners, Partech International, and SAP Ventures.[5][6]

The company completed its initial public offering (IPO) in April 2014 and was listed on the NASDAQ under the ticker symbol FIVN. The IPO raised $70 million and valued the company at approximately $322 million based on an initial share price of $7.95.[7] The offering was underwritten by J.P. Morgan, Barclays, and BofA Merrill Lynch.[8]

On July 18, 2021, Zoom Video Communications announced a definitive agreement to acquire Five9 in an all-stock transaction.[9] The deal was terminated by mutual agreement on September 30, 2021, after Five9's stockholders did not provide the requisite support for the merger agreement.[10][11][12][13][14]

In December 2023, Five9 declined a second acquisition approach from Zoom Video Communications, opting to remain independent.[15] In July 2024, with the company's share price having declined significantly from its 2021 highs, activist hedge fund Anson Funds took a stake in Five9 and urged it to explore a sale.[16][17]

Acquisitions

Since 2013, Five9 has completed the following acquisitions:

Date Company Description
October 2013 SoCoCare[18] Social engagement platform for customer service
November 2019 Whendu LLC[19] iPaaS platform for real-time workflow integration
March 2020 Virtual Observer[20] Workforce optimization solutions (formerly CSI)
October 2020 Inference Solutions[21] Intelligent agent software
August 2023 Aceyus, Inc.[22] Data analytics platform
August 2024 Acqueon Technologies[23] Revenue execution platform

Products and services

Five9 develops contact center software delivered as a cloud service. Businesses use the platform to manage customer interactions across voice and digital channels, including phone, email, chat, and social media.[24]

The Intelligent CX Platform, the company's primary product, handles call routing, workforce engagement management, analytics, and integrations with major customer relationship management (CRM) systems.[25]

Artificial intelligence features

The platform incorporates artificial intelligence tools, branded as Genius AI.[26] Virtual agents automate routine customer interactions, while a real-time assistance feature supports live agents during calls. The system also provides analytics for customer experience data and voice biometric authentication for identity verification.[24]

Management

Mike Burkland served as Five9's chief executive officer from January 2008 to December 2017. The company completed its 2014 IPO during his tenure and grew from approximately 80 employees to more than 800.[27] In November 2017, following a public disclosure of a Stage 4 cancer diagnosis, Burkland stepped down as CEO and became Executive Chairman.[28] Rowan Trollope succeeded him as CEO.[29] Burkland returned as chief executive in November 2022.[30]

Amit Mathradas succeeded Burkland as CEO in February 2026.[31]

Ajay Awatramani became Chief Product Officer in October 2024.[32]

Andy Dignan became President in March 2025.[33]

Bryan Lee became Chief Financial Officer in July 2025, having previously served as interim CFO and Treasurer. He replaced Barry Zwarenstein, who retired.[34][35]

Financial performance

Five9 reported total revenue of approximately $1.04 billion for fiscal year 2024, according to its SEC filings.[2]

Period ending Total revenue Gross profit Net income
12/31/2024 $1,041,938 $564,398 -$12,795
12/31/2023 $910,488 $477,798 -$81,764
12/31/2022 $778,846 $411,345 -$94,650
12/31/2021 $609,591 $338,492 -$53,000

Data in thousands of USD.[2]

In 2024, a class action lawsuit was filed against Five9, Inc. in the U.S. District Court for the Northern District of California on behalf of investors who purchased securities between June 4 and August 8, 2024. The complaint alleges that the company made materially false and misleading statements about its business prospects during that period. As of February 2026, the court had denied in part the defendants' motion to dismiss, allowing the case to proceed to discovery.[36][37]

Recognition

Gartner named Five9 a Leader in its Magic Quadrant for Contact Center as a Service in both 2024 and 2025.[38]

IDC named Five9 a Leader in the inaugural IDC MarketScape for European Contact Center-as-a-Service Applications Software in 2025.[39]

See also

References

  1. Clancy, Heather. "Why More Contact Centers are Moving to the Cloud". Fortune. Retrieved 2026-06-17.
  2. "Five9, Inc. Annual Report (Form 10-K), Fiscal Year Ended December 31, 2024" (PDF). U.S. Securities and Exchange Commission. February 20, 2025.
  3. Mitchell, Charlie (2024-10-29). "Gartner Magic Quadrant for Contact Center as a Service (CCaaS) 2024: The Rundown". CX Today. Retrieved 2026-05-29.
  4. "Five9, Inc. Registration Statement (Form S-1)". Retrieved 2026-06-03.
  5. "Cloud call center biz Five9 hooks $34.5M from SAP, Adam Street, & others". VentureBeat. 2013-05-29. Archived from the original on 2022-05-17. Retrieved 2026-06-03.
  6. "Five9 Raises $8.6M in Equity Funding". FinSMEs (Press release). 2011-01-19. Retrieved 2026-05-29.
  7. "Five9 Goes Public on NASDAQ". Calibre One (Press release). 2014-04-04. Retrieved 2026-05-29.
  8. Writer, Staff (2014-05-01). "IPO Profile: Five9 Communications Inc". Venture Capital Journal. Retrieved 2026-06-03.
  9. "EX-99.1: Zoom to Acquire Five9". Retrieved 2026-06-03.
  10. Miao, Hannah (2021-10-01). "Five9 CEO says shareholders rejected Zoom acquisition because the offer 'wasn't going to cut it'". CNBC. Retrieved 2026-06-03.
  11. Loizos, Connie (2021-10-01). "And that's that, as the Zoom deal to buy Five9 is called off". TechCrunch. Retrieved 2026-06-03.
  12. "EX-99.1: Five9 and Zoom Mutually Agree to Terminate Merger Agreement". Retrieved 2026-06-03.
  13. Novet, Jordan (2021-09-30). "Zoom and Five9 abandon $14.7 billion acquisition". CNBC. Retrieved 2026-06-17.
  14. Herrera, Aaron Tilley and Sebastian (2021-09-30). "Zoom's Nearly $15 Billion Acquisition of Five9 Rejected by Shareholders". The Wall Street Journal. Retrieved 2026-06-17.
  15. "Five9 Says it is Not Considering Sale". Reuters.
  16. "Anson Funds Pushing Five9 to Explore Sale". Reuters.
  17. Squire, Kenneth (2024-08-03). "Activist Anson Funds may have spotted a huge opportunity for value in Five9". CNBC. Retrieved 2026-06-17.
  18. "Five9 Acquires SoCoCare". CRM Magazine. 2013-10-24. Retrieved 2026-06-03.
  19. "Five9 buys Whendu to shift more enterprise contact centers to the cloud". SiliconANGLE. 2019-11-12. Retrieved 2026-05-29.
  20. "Five9 buys workforce optimization provider Virtual Observer". SiliconANGLE. 2020-02-19. Retrieved 2026-06-03.
  21. "Five9 Acquires IVA Leader Inference Solutions". No Jitter. October 28, 2020.
  22. "Five9 to acquire data integration and analytics startup Aceyus". SiliconANGLE. 2023-08-07. Retrieved 2026-06-03.
  23. "Billion-dollar revenue run rate, AI and an acquisition highlight Five9's latest quarter despite weak forecast". SiliconANGLE. 2024-08-08. Retrieved 2026-06-03.
  24. Flood, John (2022-11-15). "Why Are More Businesses Choosing Five9 for CCaaS?". CX Today. Retrieved 2026-05-29.
  25. "A Roadmap for Selecting the Right CCaaS Vendor". No Jitter. 2023-08-29. Archived from the original on 2024-11-12. Retrieved 2026-05-29.
  26. Mitchell, Charlie (2024-10-10). "Five9 Introduces Genius AI to Simplify Contact Center AI Adoption". CX Today. Retrieved 2026-06-03.
  27. Nicastro, Dom. "Five9 Names Amit Mathradas CEO as Mike Burkland Prepares Exit". CMSWire.com. Retrieved 2026-06-03.
  28. "Five9 announces new CEO Amit Mathradas". No Jitter. Retrieved 2026-06-03.
  29. "Five9 CEO explains why Zoom deal failed". CNBC. 2021-10-01. Retrieved 2026-05-29.
  30. "EX-99.1: Five9, Inc. Current Report (Form 8-K), March 10, 2025". Retrieved 2026-06-03.
  31. Nicastro, Dom. "Five9 Names Amit Mathradas CEO as Mike Burkland Prepares Exit". CMSWire.com. Retrieved 2026-06-03.
  32. Brooks, Steve (2024-11-01). "Five9 appoints first CPO, Ajay Awatramani". Enterprise Times. Retrieved 2026-06-17.
  33. "Five9, Inc. Current Report (Form 8-K)". Retrieved 2026-06-03.
  34. "Five9, Inc. Current Report (Form 8-K)". Retrieved 2026-06-03.
  35. "Five9, Inc. Current Report (Form 8-K)". Retrieved 2026-06-03.
  36. "Northern District Of California Denies In Part Motion To Dismiss Securities Class Action Against Cloud Software Company". JD Supra. Retrieved 2026-05-29.
  37. "BFA Defeats Motion to Dismiss in Five9 Securities Litigation". Bleichmar Fonti & Auld LLP. Retrieved 2026-05-29.
  38. Mitchell, Charlie (2024-10-29). "Gartner Magic Quadrant for Contact Center as a Service (CCaaS) 2024: The Rundown". CX Today. Retrieved 2026-05-29.
  39. "Five9 Named a Leader in Inaugural IDC MarketScape for European Contact Center as a Service". Archived from the original on 2026-01-24. Retrieved 2026-06-17.