Cyara Drives CX Transformation with over 50% YoY Revenue Growth in FY23, Open AI Integration and Strategic Acquisitions

Cyara announces FY23 growth, continues to accelerate global growth with AI-led innovations in chatbot development, acquisitions and expanded leadership team

Cyara, the leading AI-led Customer Experience (CX) Transformation Platform provider, today announced it closed out FY23 with 50% year-over-year revenue growth, over 30% YoY SaaS bookings growth, and a Customer Net Promoter Score (NPS) of 67.

“As we look ahead, we are poised to lead the charge in driving transformative customer experiences, ensuring businesses can continually deliver innovative, new interactions that harness the power of AI and deliver customer smiles,” said Alok Kulkarni, CEO and co-founder of Cyara. “With our outstanding team and leadership, we remain dedicated to empowering businesses with advanced solutions that continue to elevate an organization’s CX.”

Product Integrations & Enhancements

In May, Cyara unveiled its integration of OpenAI’s GPT-3, which accelerates the generation of training and testing data for Cyara Botium, the company’s one-stop solution for comprehensive, automated chatbot and conversational AI testing and assurance. The integration with OpenAI’s GPT-3 powers AI-powered Data and Test Generator and enables enterprises to accelerate the development of their chatbots and voicebots while simultaneously improving chatbot quality.

The announcement came on the heels of Cyara’s release of its global study, commissioned by Forrester. The study shows that while most customers want to use chatbots for automated support, many businesses fail to deliver positive chatbot experiences even as they increasingly rely on them as primary methods of customer interactions online.

Additional key product enhancements include:

• New integrations for Botium including Kore.ai, Cognigy, Genesys Cloud CX and Nuance
• Improved Botium user experience with a refreshed UI
• More actionable alerts in Pulse with thresholds that throttle alerts, and ability to automatically retry upon failure
• Integration of key Spearline capabilities into Pulse for enhanced global dialing
• Easier access to Knowledge Center content (support articles, videos, etc.) with direct links from wherever you are in the Cyara portal
• Availability of support via live chat

Key Acquisitions

As the company continues to expand, Cyara made two noteworthy acquisitions. In March, Cyara acquired Spearline, an industry-leading global communication testing company headquartered in Ireland. This strategic move significantly expands Cyara's global in-country dialing and WebRTC testing and monitoring capabilities.

The deal pairs Cyara’s leadership in contact center and chatbot assurance with Spearline’s global dialing and WebRTC capabilities to deliver an unmatched solution set that uniquely addresses the needs of enterprises transforming their CX through the adoption of cloud- and AI-based solutions that support the modern remote workforce. Spearline also brings market-leading WebRTC testing solutions that enable the monitoring of voice and video delivered through Contact Center as a Service (CCaaS) and Unified Communications as a Service (UCaaS) platforms like NICE CXOne, Amazon Connect, Genesys Cloud RingCentral and Zoom.

The company also acquired CentraCX, a comprehensive SaaS-based Voice of the Customer (VOC) solution designed for contact centers. This acquisition further enhances Cyara's product portfolio with advanced VOC and customer feedback capabilities, cementing its unique position in the CX Transformation market.

Company Growth & Expansion of Executive Team

The company accelerated its growth with five senior global appointments:

• Bruce Rosen as Chief Sales Officer (CSO), to lead the company’s Global Sales organization, including Direct Sales, Channel, Partner, Solution Architects, Enablement and Business Development.
• Max Lipovetsky as VP of Products, who brings a wealth of knowledge with over 20 years’ experience in the contract center and IVR Industry.
• Russ Hellmann as VP Growth Marketing, who is responsible for developing a centralized capability for regional teams that will enable customer acquisition and partner activation.
• Bryan Mobley as VP of Global Channels and Alliances, bringing over 25 years’ experience in telecommunications, technology and customer experience management.
• Rishi Rana as President and Chief Operating Officer, who will lead Cyara’s go-to-market (GTM) and product strategies, further accelerating the company’s market position and driving long-term success.

Cyara also added its first independent board member, Vikram Verma.

Industry Recognition

As a testament to Cyara’s culture across its offices globally, Cyara earned recognition on the 2023 UK's Best Workplaces™ for Women list by Great Place to Work® UK. The company demonstrates its commitment to promoting fairness regardless of gender and strives for fair representation of women in the workforce and throughout management. Cyara achieved an impressive 88% overall score in the GPTW model based on the employee survey, with all respondents agreeing that employees are treated fairly across all aspects of diversity and inclusion. Earlier this year Cyara was also recognized as one of one of the 2023 UK’s Best Workplaces™ for Wellbeing by Great Place to Work®.

Cyara was also recognized in industry awards, including:

• The Globee® Awards for “Female Executive of the Year – Technology (All)”
• TMC 2022 Communications Solutions Products of the Year Award.
• TMC 2022 CUSTOMER Magazine Contact Center Technology Award
• TMC 2022 Customer Experience Innovation Award
• TMC 2022 Teleworking Solutions Excellence Award
• TMC 2022 Labs Innovation Award
• Best in Biz Award for “Most Innovation Company of the Year”
• Best in Biz Award for “Best New Product of the Year”
• Best in Biz Award for “Most Customer Friendly Company of the Year”

To learn more about Cyara’s industry-leading CX assurance solutions, please visit: https://cyara.com/.

About Cyara

Cyara revolutionizes the way businesses transform and optimize their customer experiences. Cyara’s AI-based CX Transformation Platform empowers enterprises to deliver flawless interactions across voice, video, digital, and chatbot experiences. With Cyara, businesses improve customer journeys through continuous innovation while reducing cost and minimizing risk. With a 96% customer retention rate and world-class Net Promoter Score (NPS), today’s leading global brands trust Cyara every day to deliver customer smiles at scale.

To learn more, visit cyara.com or call 1-888-GO-CYARA.

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