Genesys has announced that it has reached almost $2.1BN in annual recurring revenue (ARR) for its Genesys Cloud platform.
The news makes Genesys the first vendor to announce that it has officially broken the $2BN mark for annual CCaaS revenue, with the company reporting 35 percent YoY growth.
Indeed, the tech firm had been neck and neck with NiCE, with both vendors hovering around $1.9BN, but has now seemingly pulled ahead.
However, after a series of big deals announced in the last quarter, including a $100MN deal with Europe’s largest contact center, NiCE may soon close the gap.
The next closest competitor in CCaaS is Five9, which broke the $1 billion barrier in 2024.
AWS is also likely to have reasonably high CCaaS revenue, but the company does not disclose its contact center earnings.
Genesys believes that its strong numbers are partly down to an uptick in the implementation of Genesys Cloud AI, a suite of AI capabilities integrated into the vendor’s CCaaS platform.
Indeed, the company stated it was in a strong position to “lead the advancement of agentic AI in CX orchestration.”
These sentiments were echoed by Tony Bates, Chairman and CEO of Genesys, who said: “Enterprises are operating in the experience economy where empathy, delivered at scale through AI, redefines what it means to truly connect with customers.
With the rise of agentic AI, organizations will have more opportunity to deliver proactive, personalized experiences that make customers feel seen and valued, not just a number in a queue.
“Genesys is at the forefront of the AI transformation that makes this possible, enabling organizations to create experiences that are not only smarter, but deeply human.”
Genesys Signs Its Second-Largest Deal Ever
Away from its record-breaking CCaaS revenue reveal, the quarter saw Genesys secure its second-largest CCaaS deal, an eight-figure annual contract with a Fortune 100 technology company.
There was also good news for the company’s existing Genesys Cloud business, with the platform driving a quarterly net revenue retention rate above 120 percent for four consecutive quarters.
In addition, the number of agents supported by Cloud Copilot has more than tripled, while the platform generated over ten times more conversation summaries year over year (YoY), freeing up agents to focus on delivering a better customer experience.
Knowledge articles surfaced by the system have grown more than fourfold, empowering smarter automation and more effective service.
Bot conversations have also doubled as companies expand their self-service options, and web messaging interactions are up over 80 percent.
While these figures are impressive, it is important to note that Genesys is a private company.
As such, it can pick and choose the numbers it releases to the public, unlike many of its competitors, which means it does not face the same level of scrutiny as the likes of AWS, Five9, and NiCE.
What’s Driving Genesys’s CCaaS Success?
About two years ago, Genesys made a bold move to end innovation on its on-premise platform – effectively steering a large legacy customer base toward Cloud CX and reallocating its resources to a more scalable, future-focused architecture.
That decision, while not without controversy, has resulted in Genesys now supporting approximately one million seats on Cloud CX and is seeing strong momentum from migrations.
At the core of this growth is a dramatic uptick in contact centers wishing to support their teams with new AI capabilities.
Automated knowledge delivery and summarization capabilities have surged, and companies are experiencing a shift toward smarter, more efficient service delivery across their operations.
This progress hasn’t gone unnoticed by industry analysts.
The 2024 Gartner Magic Quadrant for CCaaS and the 2025 Gartner Peer Insights “Voice of the Customer” report highlight Genesys’s ability to successfully move legacy clients to the Cloud, while adding new automation and personalization capabilities.
