Cyara, provider of the leading customer experience (CX) assurance platform, closed its 2018 fiscal year ending June 30 with 73-percent growth in new SaaS bookings and customer retention exceeding 97 percent. The continued growth in sales revenues was fueled by both new contracts and renewals with brands that include 1300 FLOWERS, [24]7.ai, GoDaddy, HomeServe, and Nelnet.
“With customer expectations ever increasing, brands are differentiating themselves with great customer experiences,” said Alok Kulkarni, CEO and co-founder of Cyara. “We are partnering with many CX leaders across industries who are looking to drive digital transformation, adopt Agile and DevOps methodologies, and implement automation technology to help them win in this Experience Economy.”
FY2018 Highlights
Customer wins
During the financial year that closed in June 2018, Cyara added several seven-figure annual contracts to its customer roster. Increased customer demand has been driven by growth in the technology, travel, and retail sectors, as well as a continued strength in the financial services, telecom, and insurance markets.
CX deployment trends
The mega trends of digital transformation and lean practices have motivated enterprises to apply successful Agile and DevOps methodologies to the front-line of customer service, where Cyara’s automated testing platform supports these initiatives. At the same time, Cyara’s SaaS business eclipsed on-premise installations as customers opted for the flexibility and cost savings of cloud technologies.
Platform statistics
As top brands automate the CX design and testing process to implement real-time detection of CX issues, usage of Cyara’s platform rose dramatically: Cyara generated 3.5 billion seconds of synthetic traffic via its cloud platform over the course of the year. Cyara experienced increased demand from APAC-based call centers, and from customers requiring high-volume load testing as high as 20,000 concurrent calls.
Product updates
Over the course of the year, Cyara made significant updates to its product portfolio and launched Cyara Velocity, which was built to accelerate development and enable adoption of DevOps methodologies. Recent enhancements focused on expanded monitoring and incident management via dashboards that highlight quality issues in both voice and digital channels, along with automated troubleshooting. Cyara also expanded in-country dialing to include more than 65 countries, enhanced call and voice-quality testing capabilities, and added broader language support for transcription services used in its IVR Discovery and Expect-to-Hear fields.
Cyara Xchange
The company hosted its inaugural conference, where CX leaders from companies such as Macy’s, Anthem, eBay, Capital Group, Genesys, and Airbnb convened to discuss trends in CX testing and development. Sessions covered Agile and DevOps transformation, effective test strategies, and CX innovation strategies.
Channel partners
Cyara signed agreements with new channel partners including Servion, DecisivEdge, High Availability, ContactScope, City Communications, and AGC Networks (North America); Exceed Global (Australia/New Zealand); and infinIT.cx GmbH (EMEA).
Industry recognition
Cyara received the 2018 CUSTOMER Magazine Product of the Year Award, the Red Herring 100 Global Award, and the Frost & Sullivan Excellence Award.
Cyara anticipates continued growth in the upcoming fiscal year, with plans to grow headcount by approximately 20 percent across technical, sales, and marketing roles globally; product enhancements to advance CX innovation across all channels; and a focus on identifying high-impact business CX issues.