Genesys, an AI-driven developer of call-center software, said on Monday it has confidentially filed for an initial public offering in the United States, signaling growing investor appetite for new listings after a prolonged dry spell.
The move comes as the IPO market recovers with investors once again turning warmer towards tech startups that they had shunned for over two years due to concerns around lofty valuations.
Analysts expect companies catering to the AI market will lead the charge for tech sector listings, amid heightened expectations of multi-fold growth over the next few years as corporates increasingly find more generative AI use cases.
In December 2021, Genesys raised $580 million in a funding round led by Salesforce Ventures, valuing it at $21 billion.
Genesys was acquired by private equity firm Permira Holdings from Alcatel-Lucent in 2012, valuing the company then at about $1.5 billion.
Source: CNA
