Business Description

Overview Five9 is a leading provider of intelligent customer experience, or CX, platform for enterprise contact centers. With a foundation in our cloud-native solution, Five9 is now evolving into an AI-native CX platform, empowering enterprises to scale seamlessly, innovate faster, and deliver enhanced customer experiences as the market opportunity continues to expand. Our reliable, secure, and scalable Intelligent CX Platform, powered by our Five9 Genius AI suite, delivers a comprehensive suite of easy-to-use applications that enable the breadth of customer service, sales, and marketing functions. We have become an established leader in the AI-powered CX market with more than 3,000 customers. We believe our end-to-end, AI-powered CX platform creates a significant advantage by orchestrating interactions across all channels throughout the customer journey. We believe there are two key industry trends driving growth in the cloud contact center market. First is the increasing adoption of cloud-based solutions within companies around the world, which is creating strong demand for integrated cloud contact center software solutions. Cloud contact center solutions offer the functionality, reliability, scalability and security required by large, complex enterprise contact centers. Furthermore, organizations periodically refresh their on-premises contact center systems, which provides an opportunity for cloud solutions to replace legacy on-premises contact center systems. On-premises systems require large up-front investments, long deployment cycles, and are burdensome to scale and maintain. These systems are also often inflexible, complex, and require significant duplication of effort and integration across multiple sites. AI technologies generally require cloud deployment and, therefore, provide additional incentives for customers to migrate away from their legacy on-premises solutions. In addition, agents increasingly work remotely, which presents a challenge to on-premises based systems that, by design, provide capabilities within a specific physical location. This creates substantial challenges for customers with on-premises contact center systems. As a result, cloud contact center software solutions are continuing to replace legacy on-premises contact center systems. These cloud contact center systems provide organizations with the agility to adapt to rapidly evolving customer demands and leverage innovative functionalities to improve engagement. Second is advancements in artificial intelligence, or AI. AI is a significant advancement to improve customer experience across self-service, agent assistance, managerial insights, and workflow automation use cases. This often provides significant operational efficiencies and improved business insights and intelligence. The recent advances in Generative AI, including Large Language Models, or LLMs, enable new capabilities in contact centers that were not previously possible. Our Genius AI suite is a comprehensive portfolio of AI solutions that uses Generative AI to power agentic CX. For instance, our agentic AI Agents solution redefines virtual agents, with the power of Generative AI, to deliver a hyper-personalized customer experience, unlocking additional efficiencies with automation. Our AI Summaries capability uses Generative AI to automatically summarize a call, reducing after-call work time. Natural language voice and chat-bots, using Generative AI, provide speech recognition, intent detection, and text-to-speech technologies to quickly and effectively handle mundane contact center tasks, allowing agents to focus on more complex issues. Generative AI technologies are also used in our AI Insights product, which gives customers an understanding of the reasons for customer calls, provides customer sentiment, and call resolution status, with little up-front configuration or setup. Our solution empowers our customers to harness the value of these two market trends. Comprised of our Intelligent CX Platform and AI capabilities, including agentic AI agents, Agent Assist, Workflow Automation, or WFA, AI Insights, AI Summaries, Workforce Engagement Management, or WEM, and Revenue Execution, our solution allows simultaneous management and optimization of customer interactions across voice, chat, email, web, social media and mobile channels, either directly or through our application programming interfaces, or APIs.…