Acquisition Marks Creation of the World’s First Workforce Optimization Suite Purpose-Built for the Digital-First Customer Engagement Center
Playvox, the leading CRM-connected omnichannel contact center provider of agent optimization solutions, announced a $25 million funding round from Five Elms Capital and the acquisition of Agyle Time, a provider of cloud-native, digital-first workforce management (WFM) software for contact centers.
In 2020, market demand for the Playvox platform drove an increase in active users by more than 400 percent and new enterprise customers by 75 percent. Playvox currently serves over 200 customers in 34 countries, including Dropbox, Electronic Arts, and Wish, who rely on the platform to create a continuous learning and growth environment that empowers employees to deliver customer experiences that create raving fans and brand loyalty.
“The rapid growth we experienced last year coupled with our ability to maintain consistently high customer satisfaction validates our vision and product/market fit,” shared Oscar Giraldo, founder and CEO of Playvox. “We enter 2021 bolstered by strong momentum from new funding and a strategic acquisition. This positions us for continued growth.”
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“Playvox has been instrumental to us quickly implementing an agent-centric approach to customer service quality that improves how we interact with and meet customer expectations,” said Felipe Mendonça, Customer Experience Process Supervisor at Nubank, the largest Fintech in Latin America. “This funding round strengthens Playvox’s unique culture of partnering with customers to deliver innovative, human-centered solutions.”
“The pandemic accelerated the digital transformation in contact centers. Workforce Optimization applications, which include omnichannel recording, quality management (QM), workforce management, speech/text analytics, analytics-enabled QM and other applications to optimize and engage employees and customers are essential for contact centers. Contact centers need to apply these solutions to digital and self-service channels, just as they have to voice interactions, if they want to deliver an outstanding customer experience consistently,” noted Donna Fluss, President of DMG Consulting.
Five Elms Capital led the recent funding round reflecting the firm’s confidence in Playvox’s ability to execute on its vision of becoming the leader in the cloud-native, digital-first workforce optimization (WFO) market.
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“We are thrilled to continue supporting the Playvox team in its mission to provide innovative, cloud-based solutions to its global base of enterprise contact center customers,” said Ryan Mandl, Managing Director at Five Elms Capital. “Playvox continues to deliver extraordinary products, add renowned brands to its customer base, and attract exceptional executives because of its company values and culture. We are excited to partner with the Agyle Time team, and believe the combination cements Playvox as the leading cloud provider of workforce optimization solutions for the modern contact center.”
The acquisition of Agyle Time combines two complementary high-growth SaaS solution providers that specialize in transformative tools for the CRM-centered omnichannel contact center. Agyle Time delivers an innovative, cost-effective cloud-native solution that enables contact centers to intelligently forecast, schedule, and monitor their workforces in real-time. Combined with the Playvox agent optimization suite, customers now have access to a cloud-native, digital-first Workforce Optimization (WFO) platform deployable in days/weeks, unlike legacy WFO solutions that require months/years.
“Playvox’s Quality Management System (QMS) is a key building block for our global operations. The collaborative nature of their team and willingness to understand and address specific needs are core assets to our relationship, and one of the primary reasons we picked Playvox’s QMS,” said Ori Dugary, Senior Director, Service Operations at Twitter. “We are excited to explore Agyle Time as part of the Playvox solutions. Agyle Time enables a more holistic view of operations. It has the potential for just-in-time insights as well as resource forecasting capabilities that can make a significant impact on our operations.”
“Agyle Time fills a critical need in contact centers to efficiently schedule the right skills across all engagement channels to provide exceptional customer experiences with a quickly deployable cloud-native, digital-first workforce management (WFM) solution,” said Seb Wortley, CEO and co-founder at Agyle Time. “Joining Playvox was a strategic decision because it enables us to expand our solution and grow with a partner that shares our values, culture, and vision.”
“2020 was a great year highlighted by our Agyle Time and Trainbox acquisitions and continued support by Five Elms Capital,” added Giraldo. “With this cash infusion, Playvox will expand the expertise within all functions of our operations, including product development, engineering, sales, customer success, and marketing, to accelerate go-to-market activities in the global workforce optimization market.”
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