Genesys Announces Significant Growth for its Genesys Cloud Platform

In the contact center space (and in other customer-facing operations), companies are seeking to improve the customer experience (CX), and many are using artificial intelligence (AI) to transform the way both customers and employees communicate. Many companies have already shifted to cloud-based solutions for their flexibility, resilience and ease of use. Earlier generations of cloud-based solutions are being improved with AI, and companies are using these platforms to allow their customer and agent support to rapidly evolve and adapt.

With these innovations, companies now have options to build tailored experiences that can transform valuable business needs.

CX solutions provider Genesys announced that its Genesys Cloud platform reached nearly $1.8 billion annual recurring revenue (ARR) during the third quarter of its fiscal year (August 1 – October 31, 2024). With more than 40% year-over-year growth, Genesys Cloud ARR grew at an accelerated rate from the second quarter. Genesys Cloud net revenue retention (NRR) surpassed 120% for the 11th quarter in a row, which the company credits to continued expansion by existing customers.

In the announcement, the company noted that "more than 6,000 organizations have chosen Genesys Cloud to elevate their customer and employee experiences," including AAA Life Insurance Company, Bradesco Seguros, Enablx, ESPN, Greenpeace Africa, IBEX, Indiana University Health, MAF Carrefour, Michigan State University, Pizza Pizza, Raízen, Vitamin Shoppe, Vodafone Greece and more.

The platform also received significant recognition during the year and was named as a Leader in the 2024 Gartner Magic Quadrant for Contact Center as a Service (CCaaS) for its Ability to Execute. This makes Genesys a 10-time Magic Quadrant Leader.

Additionally, the company was positioned as a Leader in the IDC MarketScape: Worldwide Conversational Intelligence and Analytics Vendor Assessment.

Finally, for the second consecutive year, Genesys was recognized by Amazon Web Services (AWS) as Customer Experience Partner of the Year (Technology). The award recognizes leaders around the globe that are playing key roles in helping their customers drive innovation and build solutions on AWS.