Cyara Achieves 40% Revenue Growth in H1 FY23 After Cyara Botium Launch, Expands Global Executive Team

MELBOURNE, Australia--(BUSINESS WIRE)--Cyara, provider of the award-winning Automated Customer Experience (CX) Assurance Platform, today announced it closed out H1 FY23 with 40% year over year growth in revenue, 96% customer retention rate and a Customer Net Promoter Score (NPS) of 67. In the first half of the financial year, Cyara also completed 25% more load tests than the same period the prior year, and saw a two fold increase in new customer deployments over the previous six months. Cyara hit a new milestone, delivering 12.8 billion seconds of synthetic CX testing traffic annually.

“We are proud to say that nearly 300 leading high-profile global brands trust our platform to monitor and manage the experience they provide their customers,” said Alok Kulkarni, CEO and co-founder of Cyara. “We are committed to supporting our customers’ CX ambitions by continuing to improve our technology to ensure the highest level of customer experience possible.”

Product Advancements

In July, just weeks after Cyara announced its acquisition of Botium to solidify its position as the global leader in CX testing and assurance, innovative new chatbot testing features were unveiled. The industry’s leading one-stop solution for comprehensive, automated chatbot testing and assurance added an AI-Powered Data and Test Generator, end to end voice and IVR testing, customisable reporting templates and Single Sign-On (SSO) user authentication. A month later, Natural Language Processing (NLP) Testing was also added to test and analyse chatbot training data to continuously improve a chatbot's ability to understand customers.

By the end of 1HFY23, less than 10 months after the acquisition, sales of Cyara Botium had increased over 10X from Botium’s sales as a standalone company.

Cyara revamped its development process, and accelerated the rate of feature delivery with almost triple velocity of the previous year, ensuring customers receive a continuous flow of new capabilities. Some of the newest features include:

• End-to-End Self Service Performance Testing Capabilities in Cruncher, including a real-time agent status report summary and filtering capabilities to allow for additional self-sufficiency, usability and efficiency in running load tests.
• Users can now view available capacity and book load tests on their own whenever their ideal testing time frame might be.

Expansion of Executive Team & Company Growth

Cyara added bench strength to its team with three senior global appointments:

• Bruce Rosen to the role of Chief Sales Officer (CSO), leading the company’s Global Sales organisation and will be responsible for building and executing the company’s strategic vision and plan for the future, scalable growth;
• Max Lipovetsky to the role of VP of Products, bringing over 20 years of experience in the contact center and IVR (Interactive Voice Response) industry; and
• Russ Hellmann to VP of Growth Marketing, who will be responsible for developing a centralised capability for regional teams that will enable customer acquisition and partner activation.

In October, Cyara added its first independent board member, Vikram Verma. Vik is an experienced leader with a proven track record of driving growth on a global scale both organically and through acquisitions. He will prove to be a true asset as Cyara enters this next chapter focusing on helping customers moving their contact center to the cloud while mitigating risk, improving customer experience, meeting KPIs and accelerating return on investment.

Cyara also announced the addition of Dean Saunders, Channel and Alliances Director of APAC. Saunders will be responsible for accelerating Cyara’s growth in the APAC region.

About Cyara’s Automated CX Assurance Platform

The award-winning Cyara Automated CX Assurance Platform enables companies to deliver better CX with less effort, cost, and risk. Cyara supports the entire CX software development lifecycle, from design to functional and regression testing, load testing, and chatbot testing as well as production monitoring, ensuring enterprises can build flawless customer journeys across voice and digital channels.

About Cyara

Cyara is the world’s leading Automated Customer Experience (CX) Assurance platform, headquartered in Silicon Valley. Cyara’s cloud-based omnichannel assurance solutions for voice quality and chatbot testing accelerate the delivery of flawless customer journeys for enterprises while reducing the risk of customer-facing defects. With a customer retention rate of 96% and a NPS score of 67, every day, major global brands trust the Cyara Platform to deliver customer smiles at scale. For more information, please visit cyara.com.