Genesys is filing for IPO

Genesys is confidentially filing for IPO.

What I initially thought was a rumor is official.

There was talk of an IPO back in late 2021 after Genesys completed its transition to a subscription model. Instead, the company took a $580M round at an impressive $21B valuation.

I'm super excited for my former colleagues: Genesys went private with Permira in 2012 and this IPO could be a well-deserved exit.

In a climate with few tech IPOs, it's definitely worth celebrating. Last month, Genesys announced its Cloud platform hit $1.6B ARR up 35% YoY for the quarter ending in July. Adding an estimated $500-700M in legacy subscriptions plus services, the company should be on track to cross the $2.3B revenue mark this fiscal year.

This IPO is one to watch!