Business Wire

Cyara Achieves More Than 30% YoY Growth, Builds on Leadership in the Customer Experience Assurance Market

Share

Cyara, provider of the award-winning Automated Customer Experience (CX) Assurance Platform, today announced it closed FY22 with more than 30% growth in revenue, a 95% customer retention rate, a Customer Net Promoter Score (NPS) of 70 and 10 billion seconds of synthetic CX testing traffic annually.

In January, Cyara received over $350 million in funding from leading investment firm K1 Investment Management (K1) to support accelerated growth, driving further expansion of the contact testing market. Following the funding, Cyara acquired industry-leading automated chatbot testing company Botium. The strategic acquisition added chatbot and conversational artificial intelligence (AI) testing and optimization capabilities to Cyara's product portfolio, solidifying the company’s position as the global leader in the CX testing and assurance market.

New Features & Services

Recently, Cyara added Cyara Botium to its solution portfolio. Botium tests and monitors the performance of chatbots and conversational AI. It is the only solution on the market offering seamless and comprehensive CX journey assurance from digital to voice agents. Botium enables brands to improve and continuously test the customer chatbot experience across all channels and platforms in all phases of the chatbot development lifecycle.

“In today’s digital economy, testing digital CX is a critical function for companies in every industry, so the release of Cyara Botium was a natural addition to our product arsenal. It has already made a positive impact for many of our customers,” said Alok Kulkarni, CEO and Co-founder of Cyara. “Our goal is to ensure that self-service CX solutions such as chatbots and interactive voice response (IVR) systems are improving customer journeys -- not causing customers additional frustration -- all while increasing productivity and minimizing costs.”

Additional products and offerings that Cyara unveiled in FY22 include:

  • LiveVQ: A solution that delivers last mile assurance for the hybrid workforce by monitoring cloud connectivity, agent applications and technology infrastructure in real time to ensure voice quality for at-home and remote agents.
  • Toll-Free Fast Check: A concierge-style, white-glove service that reduces the manual, labor-intensive task of managing and testing toll-free numbers -- just in time for health insurance Open Enrollment and retail holiday season readiness.
  • CX Test Automation Maturity Model: An innovative, easy-to-navigate self-assessment that enables organizations to determine how advanced their approach to automated CX testing is and see how their current level of test automation measures up to industry best practices.
  • GDPR Compliance Testing: A free service for organizations' chatbots in both English and German that reduces the risk of fines associated with non-compliance, allowing bots to quickly and accurately assist organizations' customers who want to know how their data is being stored.
  • Support for NICE InContact: Cyara released virtual agents for NICE InContact, enabling customers on that platform to test call routing and data passing functionality
  • Greater Flexibility Scheduling Load Tests: Cyara delivered several features over the course of the year making it easier for its customers to schedule and run load tests, including a self-service booking calendar, as well as the ability to run small load tests without a booking at all. This helps customers reduce friction and increase the frequency of load testing to enable continuous testing.

Company Growth & Expansion of Executive Team

Cyara continues to grow its employee ranks with headcount growing over 70%. The company strengthened its executive bench with several new hires in FY22, including Jeremy Braidish, Chief People Officer (CPO). Jeremy brings 20+ years of human resources (HR) experience to drive Cyara’s global HR functions and strategy, in addition to talent acquisition and development.

Key Partnerships

Today, more than 250 high-profile global brands trust Cyara’s SaaS solution to test, monitor and manage CX technology, which enables them to deliver stellar experiences for customers.

FY22 saw Cyara establish new alliances with Carahsoft, ConvergeOne, Waterfield and VIS Global as well as expanding relationships with partners like Genesys, AWS and Verizon to grow new channel ACV bookings by 30% year on year.

Cyara’s successful and unique approach to CX optimization has resulted in the Cyara Accelerator being made available on Genesys AppFoundry.

Industry Recognition & Accolades

The growing adoption and continued success of Cyara’s platform has been recognized in 12 industry awards, including:

  • Silver Stevie® Award for “Sales or Customer Service Solutions Technology Partner of the Year” and “Best Contact Center Solution”
  • Product of the Year Award from CUSTOMER Magazine
  • Remote Work Pioneer Award and Communications Solutions Products of the Year Award from TMC
  • Gold Globee winner in the “Test, Measurement and Monitoring Innovation” category from Golden Bridge Business and Innovation Awards

About Cyara’s Automated CX Assurance Platform

The award-winning Cyara Automated CX Assurance Platform enables companies to deliver better CX with less effort, cost, and risk. Cyara supports the entire CX software development lifecycle, from design to functional and regression testing, load testing, chatbot testing and production monitoring, ensuring enterprises can build flawless customer journeys across voice and digital channels.

About Cyara

Cyara is the world’s leading Automated Customer Experience (CX) Assurance platform, headquartered in Silicon Valley. Cyara’s cloud-based omnichannel assurance solutions for voice quality and chatbot testing accelerate the delivery of flawless customer journeys for enterprises while reducing the risk of customer-facing defects. Every day, major global brands trust the Cyara Platform to deliver customer smiles at scale. For more information, please visit cyara.com.

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

Media Contact:
Diana Gallagher
(408) 656-9699
10Fold Communications for Cyara
cyara@10fold.com

About Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

AUTEL Launches Energy Storage Solutions7.10.2022 20:19:00 CEST | Press release

AUTEL (AUTEL EUROPE GmbH) launched its new energy storage solutions at eMove360° Europe 2022, for energy storage systems, commercial and industrial applications, and residential uses. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20221007005488/en/ The smartest hub to direct your home energy: Autel Hybrid Inverter (Photo: Business Wire) "With over 10 years of R&D experience, Autel continues to deliver industry breakthroughs in core technologies such as power electronics," said Mr. Ting Cai, CEO of Autel Europe GmbH. Autel offers optimal Levelized Cost of Electricity (LCOE) with improved safety achieved through continuous innovation in string design to address key industry challenges. The energy storage range includes the Autel Hybrid Inverter and the Autel ESS All-in-one. Autel Energy Storage Solutions address capacity limitations AUTEL believes that its energy storage products are capable of solving the problems of limited c

Acathia Capital Completes Acquisition of Swedish Life Insurer Futur Pension7.10.2022 11:51:00 CEST | Press release

With the receipt of approvals from the Swedish Financial Supervisory Authority, Acathia Capital has completed the increase of its stake in Futur Pension Försäkrings AB, the most successful life insurer in Sweden. Since 2019, Acathia Capital has been the joint lead investor, together with the Nordic private equity manager Polaris, in this investment, within a group of 5 institutional investors. As a result of the transaction, investment vehicles advised by Acathia have increased their joint stake in Futur Pension from 30% to almost 50%. Futur Pension is a powerful demonstration of how digitalization is fundamentally transforming the insurance business. The fintech, founded in 2000, has already fundamentally transformed the Swedish life insurance market in terms of cost and market share structure. Dr. Thomas Schmitt, managing partner of Acathia Capital, comments: “Futur Pension has increased its market share from 7% to over 11% of premium volume since we have become owners in 2019, makin

EIG’s MidOcean Energy to Acquire Tokyo Gas’ Interests in Portfolio of Four Australian Integrated LNG Projects for US$2.15 Billion7.10.2022 10:44:00 CEST | Press release

MidOcean Energy (“MidOcean”), an LNG company formed and managed by EIG, a leading institutional investor in the global energy and infrastructure sectors, today announced that it has entered into a definitive agreement with Tokyo Gas Co., Ltd (“Tokyo Gas”) to acquire Tokyo Gas’ interests in a portfolio of four Australian integrated LNG projects. Under the terms of the agreement, MidOcean will acquire Tokyo Gas’ interests in Gorgon LNG, Ichthys LNG, Pluto LNG and Queensland Curtis LNG for total cash consideration of US$2.15 billion. These integrated projects span Australia’s western and eastern seaboard and are major suppliers of LNG to Asia, with a diverse set of long-dated take or pay contracts with investment grade counterparties, and to Australia’s domestic gas markets. The portfolio is expected to generate approximately 1 million tonnes per annum of LNG net to MidOcean, production that is underpinned by long-life reserves and a globally competitive cost structure. The portfolio bene

LabGenius Secures Government Innovation Grant to Expand ML-driven Drug Discovery Platform, EVA™7.10.2022 09:00:00 CEST | Press release

LabGenius, a pioneer in the use of machine learning (ML) for antibody engineering, today announced that it has been awarded a highly competitive SMART grant from Innovate UK. Grants from the £25 million fund allow businesses like LabGenius to realize the potential of new ideas by investing in game-changing, commercially viable research and development projects. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20221007005023/en/ To date, LabGenius’ EVA platform has been used to co-optimize mono- and multi-specific single domain antibodies for biochemical and bio functional properties, including stability, potency and selective tumor cell killing. This grant will be used to further expand EVA's capabilitiesby accelerating the platform’s ability to optimize antibody-based immune cell engager molecules. Many existing antibody therapeutics have poor selective cell killing profiles, which can result in on-target, off-tumor effects, an

Slate Asset Management Provides Fleet Financing to Move About Group AB to Support Rollout of Electric Vehicles and Charging Infrastructure Across Europe7.10.2022 09:00:00 CEST | Press release

Slate Asset Management (“Slate”), a global alternative investment platform targeting real assets, today announced that it has agreed to provide financing to Move About Group AB (“Move About”), a Swedish electric mobility service, to support the roll out of more than 150 electric vehicles and electric vehicle charging infrastructure throughout Europe. The car funding provided by Slate will be used to bolster Move About’s electric car fleet, which currently owns and operates over 800 electric cars and has more than 71,000 users on its platform. Move About is a Sweden-based electric mobility service that delivers environmentally friendly and cost-effective mobility solutions to over 300 locations across Sweden, Norway, and Germany. Move About has partnered with some of the largest companies across Europe to save tons of carbon dioxide emissions every year. Since it was founded in 2007, Move About has become the largest provider of emission-free carsharing in the Nordic region. Christian S