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Venture-backed Five9 raises $70m through Nasdaq IPO

7 Apr 2014

call-centre_lrgVenture capital-backed call centre cloud software developer Five9 has raised $70m through its IPO on the Nasdaq stock exchange.

The company, which has investors including Adams Street Partners, Partech Ventures and Hummer Winblad Venture Partners, granted underwriters the option of buying another 1.5 million shares as an over-allotment.

JP Morgan and Barclays acted as the lead underwriters for the share sale.

Last May SAP Ventures led a $34.5m financing round for Five9 comprising Series D equity and a revolving debt facility.

Adams Street Partners, Hummer Winblad Venture Partners and Partech International also helped fund the $22m of equity, while City National Bank provided the $12.5m of revolving debt.

SAP managing director Jai Das said at the time, “Five9 is transforming the contact center of the future. The company is driven by a passion to turn contact centers into customer engagement centers of excellence, plus they have unparalleled experience in using the cloud delivery model in contact centers.

“We are excited to partner with a clear market leader that is disrupting this very large market.”

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