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Five9 Recognized as a Growth and Innovation Leader in the European Cloud Contact Center Market by Frost & Sullivan
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Rhea-AI Summary
Five9, a leading provider of the Intelligent CX platform, has been recognized by Frost & Sullivan as a Growth and Innovation leader in the European Cloud Contact Center Market. Five9's investments in international expansion are paying off, with international revenue growing 48% YoY in Q1 of 2023. The company plans to expand its European Research and Development Headquarters in Porto, Portugal, and establish a new Professional and Customer Support Center of Excellence at the same site.
Positive
Five9 recognized as Growth and Innovation leader in European Cloud Contact Center Market by Frost & Sullivan
International revenue grew 48% YoY in Q1 of 2023
Expansion plans for European Research and Development Headquarters in Porto, Portugal
New Professional and Customer Support Center of Excellence to be established in Porto
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Five9 continues its expansion in Europe, fueled by a growing partner ecosystem and innovation with AI solutions.
SAN RAMON, Calif.--(BUSINESS WIRE)--
Five9, Inc. (NASDAQ: FIVN), a leading provider of the Intelligent CX platform, announced today that it has been recognized by Frost & Sullivan as a Growth and Innovation leader in the Frost Radar™: European Cloud Contact Center Market, 2023. Growth and Innovation leaders on the Frost Radar™ met key criteria such as longevity of the offering in Europe, consistent and increasing growth, strong go-to-market strategies, robust customer support, a commitment to local market presence, and investments in vital transformative technologies, such as incorporating AI across platforms.
The report notes that Five9 innovations are enabling more fluid customer experiences, with AI and automation embedded as standard features for its CCaaS platform.
“In an environment where AI technology is rapidly evolving, Five9’s strategy of layered AI technology abstraction positions it well to leverage the disruptions that flow from this pace of evolution,” said Bernie Arnason, Industry Principal, Information and Communications Technology Transformation, Frost & Sullivan. “Five9 focuses on building abstraction layers that are built on top of core AI engines, enabling customers to use best-of-breed AI and automation technology regardless of company size.”
Arnason also noted strengths such as Five9’s hybrid cloud architecture, which is helping the company adhere to European data sovereignty requirements, and its rapidly expanding partner network, including global system integrators, service providers, technology brokers, and authorized resellers across Europe. The company’s investments in international expansion are paying off, with international revenue growing 48% year-over-year in Q1 of 2023.
Five9 recently hosted its first fully in-person CX Summit EMEA in Porto, Portugal, home of the company’s new European Research and Development Headquarters. The site currently has more than 100 employees and is planned to expand to 300 within the next few years. The new engineering hub is spearheading Five9’s innovations in software engineering, cloud operations and more. The company intends to also establish a new Professional and Customer Support Center of Excellence at the Porto site.
“Five9’s arrival in the city of Porto marks the beginning of the city’s journey with North American companies listed on Nasdaq,” said Ricardo Valente, Vereador do Pelouro da Economia, Emprego e Empreendedorismo / City Councillor for Economy, Employment and Entrepreneurship. “This commitment to the city of Porto demonstrates the city’s capacity to be recognized as a center of excellence for companies with global business scopes and in highly competitive markets, where human capital is a key factor in business sustainability.”
“Following a very successful CX Summit in Porto, we are honored to be recognized by Frost & Sullivan as a growth and innovation leader in the European cloud contact center market,” said Nick Delis, SVP, strategic and international sales, Five9. “We look forward to continuing to expand our international footprint with a focus on AI and Automation products, continuing to build a strong and evolving partner ecosystem and providing solutions to deliver a fluid customer experience.”
Frost Radar™: European Cloud Contact Center Market, 2023 provides results from a field of more than 100 industry participants in Europe. Frost & Sullivan independently plotted the top 20 cloud contact center companies across two key indices of growth and innovation.
About Five9:
The Five9 Intelligent CX Platform provides a comprehensive suite of solutions for orchestrating fluid customer experiences and empowering agents. Our cloud-native, multi-tenant, scalable, reliable and secure platform includes contact center; omni-channel engagement; Workforce Engagement Management; extensibility through more than 1,000 partners; and innovative, practical AI, automation and journey analytics that are embedded as part of the platform. Five9 brings the power of people, partners and technology to more than 2,500 organizations worldwide. Through this combination, Five9 strives to support customer needs from “Day 1 to forever” and deliver on our customer commitment: “We keep our CX promise, so you can keep yours.”
What is Five9's recognition in the European Cloud Contact Center Market?
Five9 has been recognized as a Growth and Innovation leader by Frost & Sullivan in the European Cloud Contact Center Market.
How is Five9's international revenue performing?
Five9's international revenue grew 48% year-over-year in Q1 of 2023.
What are Five9's expansion plans in Porto, Portugal?
Five9 plans to expand its European Research and Development Headquarters in Porto and establish a new Professional and Customer Support Center of Excellence at the same site.
What is Five9's focus for expansion?
Five9 is focusing on AI and Automation products, building a strong partner ecosystem, and delivering a fluid customer experience.
