Five9, Inc. (NASDAQ:FIVN), a leading provider of the intelligent cloud contact center, announced today the expansion of its go-to-market operation, including several new appointments to the Company’s global sales and channel organizations to drive domestic and international growth. The Company’s go-to-market strategy continues to be led by Dan Burkland, President, who has managed the sales organization for nearly a decade. Mr. Burkland has been highly focused on scaling the sales organization and expanding reach into enterprises, as evidenced by the number of customers with over $1 million in annual recurring revenue approximately doubling over the last two years to more than 40.
As part of the go-to-market leadership expansion, Mr. Burkland recently restructured the sales organization, promoting Andy Dignan to SVP of Global Channels and Services to lead the Company’s channel and international expansion strategy. Mr. Dignan has spent his entire career in the contact center industry and most recently led go-to-market globally for the collaboration business at Cisco. Additionally, Mr. Burkland is bringing on two additional vice presidents with extensive enterprise contact center go-to-market experience.
The Company also announced the departure of James Nystrom effective July 15, 2019, who was most recently EVP, Sales leading North America direct sales, reporting to Mr. Burkland. Mr. Nystrom is leaving to pursue an opportunity at a non-competitor early-stage firm. We do not expect Mr. Nystrom’s departure to have any impact on the Company’s business going forward.
“We thank Jim for his contributions to Five9. Jim played a key role as our first enterprise sales rep hired in 2010 and was instrumental in putting us on the map. We wish him well on his next endeavor.” – Dan Burkland, President
“We have tremendous opportunity to continue scaling our enterprise business domestically, internationally and through channels. Under Dan’s leadership, we have one of the best and most efficient enterprise go-to-market teams in the industry. Dan will continue to provide the strategic direction for our go-to-market efforts with these new hires and our long-tenured sales executives continuing to direct day-to-day sales activities.” – Rowan Trollope, CEO
This news release contains certain forward-looking statements, including the statement regarding Mr. Nystrom’s departure, and the quote from our Chief Executive Officer, which includes statements regarding our opportunity to continue scaling our enterprise business, each of which statements are based on our current expectations and involve numerous risks and uncertainties that may cause these forward-looking statements to be inaccurate. Risks that may cause these forward-looking statements to be inaccurate include, among others: (i) our quarterly and annual results may fluctuate significantly, including as a result of the timing and success of new product and feature introductions by us, may not fully reflect the underlying performance of our business and may result in decreases in the price of our common stock; (ii) if we are unable to attract new clients or sell additional services and functionality to our existing clients, our revenue and revenue growth will be harmed; (iii) our recent rapid growth may not be indicative of our future growth, and even if we continue to grow rapidly, we may fail to manage our growth effectively; (iv) failure to adequately expand our sales force could impede our growth; (v) if we fail to manage our technical operations infrastructure, our existing clients may experience service outages, our new clients may experience delays in the deployment of our solution and we could be subject to, among other things, claims for credits or damages; (vi) security breaches and improper access to or disclosure of our data or our clients’ data, or other cyber attacks on our systems, could result in litigation and regulatory risk, harm our reputation and adversely affect our business; (vii) the markets in which we participate involve numerous competitors and are highly competitive, and if we do not compete effectively, our operating results could be harmed; (viii) if our existing clients terminate their subscriptions or reduce their subscriptions and related usage, our revenues and gross margins will be harmed and we will be required to spend more money to grow our client base; (ix) our growth depends in part on the success of our strategic relationships with third parties and our failure to successfully grow and manage these relationships could harm our business; (x) we have established, and are continuing to increase, our network of master agents and resellers to sell our solution; our failure to effectively develop, manage, and maintain this network could materially harm our revenues; (xi) we sell our solution to larger organizations that require longer sales and implementation cycles and often demand more configuration and integration services or customized features and functions that we may not offer, any of which could delay or prevent these sales and harm our growth rates, business and operating results; (xii) because a significant percentage of our revenue is derived from existing clients, downturns or upturns in new sales will not be immediately reflected in our operating results and may be difficult to discern; (xiii) we rely on third-party telecommunications and internet service providers to provide our clients and their customers with telecommunication services and connectivity to our cloud contact center software and any failure by these service providers to provide reliable services could cause us to lose clients and subject us to claims for credits or damages, among other things; (xiv) we have a history of losses and we may be unable to achieve or sustain profitability; (xv) the contact center software solutions market is subject to rapid technological change, and we must develop and sell incremental and new products in order to maintain and grow our business; (xvi) we may not be able to secure additional financing on favorable terms, or at all, to meet our future capital needs; (xvii) failure to comply with laws and regulations could harm our business and our reputation; and (xviii) the other risks detailed from time-to-time under the caption “Risk Factors” and elsewhere in our Securities and Exchange Commission filings and reports, including, but not limited to, our most recent annual report on Form 10-K and quarterly report on Form 10-Q. Such forward-looking statements speak only as of the date hereof and readers should not unduly rely on such statements. We undertake no obligation to update the information contained in this press release, including in any forward-looking statements.
Five9 is a leading provider of cloud contact center software for the intelligent contact center space/market, bringing the power of cloud innovation to customers and facilitating more than three billion customer interactions annually. Five9 provides end-to-end solutions with omnichannel routing, analytics, WFO and AI to increase agent productivity and deliver tangible business results. The Five9 Genius™ platform is reliable, secure, compliant and scalable; designed to create exceptional personalized customer experiences.
For more information visit www.five9.com.
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