Cyara achieves over 30% year-on-year growth, equivalent to the largest VC funding round in Australian history

Melbourne, Australia–(BUSINESS WIRE)–Cyara, provider of the award-winning automated customer experience (CX) assurance platform, announced today that it closed fiscal 22 with revenue growth of more than 30% , a 95% customer retention rate, a Customer Net Promoter Score (NPS) of 70, and 10 billion seconds of synthetic CX test traffic per year.

In January, Cyara received more than US$350 million from leading investment firm K1 Investment Management (K1) in a venture funding round that tied the largest in the history of Australia, to support accelerated growth, driving further expansion of the contact testing market.

Following the funding, Cyara acquired Botium, an industry-leading automated chatbot testing company. The strategic acquisition added chatbot and conversational artificial intelligence (AI) testing and optimization capabilities to Cyara’s product portfolio, strengthening the company’s position as a global leader in the testing and CX insurance.

New features and 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 agents to voice agents. Botium enables brands to continuously improve and test the chatbot customer experience across all channels and platforms during all phases of the chatbot development lifecycle.

“In today’s digital economy, testing the digital customer experience is a critical function for businesses across all industries. The release of Cyara Botium has therefore naturally imposed itself in our arsenal of products. This has already had a positive impact on 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 improve customer journeys – without causing additional customer frustration – while increasing productivity and minimizing the costs.”

Additional products and offerings Cyara unveiled in FY22 include:

  • LiveVQ: A solution that provides last mile assurance for the hybrid workforce by monitoring cloud connectivity, agent applications, and technology infrastructure in real time to ensure voice quality for home and remote agents .
  • Free Quick Check: A concierge-style white-glove service that reduces the manual and tedious task of managing and testing toll-free numbers
  • CX Test Automation Maturity Model: An innovative, easy-to-navigate self-assessment that allows organizations to determine how advanced their approach to automated CX testing is and how their current level of test automation measures up to industry best practices.
  • GDPR Compliance Test: A free service for organizations’ chatbots in 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 stored .
  • NICE InContact support: Cyara has released virtual agents for NICE InContact, allowing customers of this platform to test call routing and data transmission features.
  • Greater flexibility in scheduling load tests: Cyara delivered several features during the year, making it easier to plan and run load tests for its customers, including a self-service booking calendar, as well as the ability to run small load tests without any reservation. This helps customers reduce friction and increase the frequency of load testing to enable continuous testing.

Business growth and expansion of the management team

Cyara continues to increase the number of its employees with an increase of more than 70%. The company strengthened its management team with several new hires in FY22, including Jeremy Braidish, Chief People Officer (CPO). Jeremy brings over 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 leading global brands trust Cyara’s SaaS solution to test, monitor and manage CX technology, enabling them to deliver exceptional experiences to their customers..

FY22 saw Cyara establish new alliances with VIS Global, Carahsoft, ConvergeOne, Waterfield and expand relationships with partners such as Genesys, AWS and Verizon to increase new channel ACV bookings by 30% year over year. the other.

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

Industry recognition and accolades

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

  • Silver Stevie® Award for “Technology Partner of the Year for Sales or Customer Service Solutions” and “Best Contact Center Solution”

  • Product of the Year Award from CUSTOMER Magazine

  • TMC’s Remote Work Pioneer Award and Communication Solutions Product of the Year Award

  • Gold Globee winner in the “Testing, Measurement and Monitoring Innovation” category of the 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, to load testing, chatbot testing, and production monitoring, ensuring organizations can create seamless 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 businesses while reducing the risk of defects experienced by customers. Every day, leading global brands trust the Cyara platform to deliver smiles at scale to their customers. For more information, visit cyara.com.

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