Five9 has closed 2023 on a high note, experiencing robust growth and maintaining momentum as it heads into the next year. With a keen focus on enhancing customer experience, Five9's strategic efforts in product innovation, expanding its ecosystem through key partnerships and making global investments have solidified its position in the market.
“The team's unwavering dedication to expanding our business through customer-centric innovation has been the cornerstone of Five9's remarkable success in the past year. The passion and dedication exhibited by each member of the Five9 team have cultivated an unparalleled culture of excellence, for which I am both proud and deeply grateful. I am excited about a promising year ahead,” said Mike Burkland, CEO and Chairman, Five9.
Financially, Five9 achieved a 17% year-over-year revenue growth, reaching a record $910 million. Noteworthy achievements included a 25% growth in enterprise subscription revenue and a 29% increase in international revenue. Over 183 customers contributed over $1 million in ARR to Five9, representing more than 50% of recurring revenue.
International expansion
The company also made significant strides in international expansion, establishing an Engineering Hub in Porto, Portugal, and expanding its workforce by nearly 50%. Five9 strengthened its global presence through new partnerships, including collaborations with MCM Telecom and XTT Mexico in LATAM, BT in Europe, and TELUS International in Canada.
Five9's commitment to innovation was evident in the introduction of Agent Assist 2.0 with AI Summary, leveraging Generative AI technology similar to ChatGPT. This solution rapidly summarizes customer call transcripts, reducing manual post-call work. Year-over-year bookings growth for Agent Assist witnessed a remarkable 6X increase in Q4. Additionally, Five9 enhanced its Workflow Automation and announced the acquisition of Aceyus, enhancing data integration and migration capabilities.
The company strengthened its European presence and fostered a thriving partner ecosystem, with global partner sales certifications tripling and partner implementations doubling year-over-year. Five9 further invested in its partners through the launch of the Global University, providing comprehensive training to enhance skills in sales, implementation, and services.
