Genesys announced it has confidentially filed for an IPO in the U.S., hoping to attract investors in the growing AI market.
This decision comes as the IPO market is recovering, with investors becoming more interested in tech startups again.
While Genesys has not shared specific IPO details, a September report suggested it could raise up to $2 billion.
In December 2021, Genesys secured $580 million in funding, led by Salesforce Ventures, valuing the company at $21 billion.
Previously, Genesys was acquired by Permira Holdings in 2012 for about $1.5 billion and later received $900 million from Hellman & Friedman in 2016.
In Q2 of fiscal year 2025, Genesys reported over $1.6 billion in revenue, a 35% increase from the previous year due to AI demand.
The company noted that more than 10% of its cloud business bookings in the first half of the fiscal year came from AI products.
Analysts expect AI-focused companies to drive tech sector IPOs, anticipating significant growth as businesses explore more AI applications.
Joe Endoso, CEO of Linqto, stated that companies using AI effectively, like Genesys, may meet or exceed their prior valuations.
He also suggested that the confidential filing could be a way to test investor interest in AI-driven businesses.
Genesys operates in over 100 countries with 6,000 employees and partners with major tech firms like Amazon Web Services and Google Cloud.
Its clients include various sectors, such as Virgin Atlantic, Axis Bank, and Lenovo.
Additionally, Cerebras Systems recently filed for a U.S. IPO, competing with Nvidia in the AI chip market.
If these IPOs succeed, it could show strong market interest in AI growth and encourage other firms to go public.
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