Five9 CEO: Acqueon Buy To Take AI ‘Customer Engagement To A New Level’

‘Together with Acqueon, we can intelligently combine the preferences of the customer with the increasing variety of outreach channels to help enterprises grow their revenue and delight customers, while aligning to compliance standards,’ says Five9 CEO Mike Burkland.

Contact center specialist Five9 plans to acquire revenue generation platform provider Acqueon in a move to boost its generative AI capabilities and take “customer engagement to a new level,” said Five9 CEO Mike Burkland.

Acquiring Acqueon will enable Five9’s Intelligent CX Platform and Genius AI Suite to become the orchestration engine for every interaction across the entire customer journey—including marketing, e-commerce, sales and customer service.

“The interactions generated within Acqueon create additional contextual data that further strengthens the value of the Five9 Genius AI Suite,” Burkland said in a statement. “[We] look forward to taking proactive customer engagement to a new level.”

The acquisition is expected to close in the second half of 2024. Financial details of the deal were not disclosed.

“Together with Acqueon, we can intelligently combine the preferences of the customer with the increasing variety of outreach channels to help enterprises grow their revenue and delight customers, while aligning to compliance standards,” Burkland said.

Who Is Acqueon? Customers Include Goldman Sachs, Coca-Cola

Dallas-based Acqueon was founded in 2019 and has approximately 200 customers globally.

More than 110,000 agents, advisers, clinicians and sellers currently use Acqueon to execute over 5 billion voice and digital interactions annually.

The company provides proactive sales, service and collections strategies for hundreds of the world’s largest organizations, including Goldman Sachs, US Bank, Cigna, Toyota Financial Services, Coca-Cola, Dish Network, Costco and multiple government agencies.

Acqueon’s flagship Revenue Execution Platform allows enterprises to proactively connect with customers for outbound sales, service and revenue capture opportunities using customers’ preferred communication channels. It has helped organizations realize millions of dollars in revenue outcomes through increased right party contact rate, higher sales conversion rates and improved speed to lead response.

Five9’s Plan For Acqueon

The goal is to help Five9 extend its customer reach and technology beyond the contact center.

The plan is to combine Acqueon’s Revenue Execution Platform and Five9’s Intelligent CX platform to provide customers with revenue generation and revenue recovery solutions.

In 2018, Five9 launched Genius, an AI-powered contact center tool that uses data from emails, chats and web searches to predict why someone is contacting customer support. Genius matches customers with agents, guiding them through their issues.

The Intelligent CX Platform, which is powered by Genius AI, offers a suite of solutions to power AI-elevated customer experiences that deliver better business outcomes. The unified cloud-native offering enables hyper-personalized customer experiences and more empowered employees, making every customer interaction more connected, effortless and personal, Five9 said.

Acqueon will bring additional data into the Five9 platform to massively boost insight.

Acqueon CEO Ashish Koul said, “With our AI powered solutions, India innovation center, experienced team and leadership in the outbound omnichannel category, we look forward to enhancing Five9’s leadership position in the CX market.”

Five9 Q2 2024 Results

On Thursday, Five9 reported second-quarter 2024 earnings of $252 million, representing an increase of 13 percent year over year.

The company provided full-year 2024 revenue guidance of just over $1 billion.