Cyara is a leading provider of customer experience (CX) assurance solutions. The company announced it received more than $350 million from K1 Investment Management (K1), a leading fund focused on high-growth enterprise software companies. By investing in and using K1’s experience in business-to-business (B2B) SaaS, Cyara will expand its contact testing market and accelerate growth.
Alok Kulkarni, CEO of Cyara said, “Cyara was founded with a vision to improve customer experience, and we’re delighted to have found a partner in K1 that is committed to the same values and wants to accelerate our growth aspirations. Organizations can succeed or fail based on their customer experience. More companies are realizing the business-critical nature of the work we do and we’re excited to have the firepower to grow and continue to attract the best people globally. We’re at the beginning of a very exciting new chapter.”
Cyara’s decision to make this investment is an important step toward increasing its global leadership in customer experience assurance. Through the investment, CX assurance will be expanded into new emerging channels, funding investments of complementary technologies will be funded, as well as expanding geographically.
Roy Liao, Principal at K1 said, “Cyara provides mission-critical software and is led by a visionary management team. We look forward to supporting Alok and the management team to execute on their growth strategy and further cement their position as the category leader in automated customer experience.”