Cyara Funding, Investors & Competitors
Cyara has raised $375M across 2 funding rounds, most recently a $350M undisclosed-stage round in January 2022.
Last Cyara funding round
$350M
Undisclosed stage · Jan 2022
Cumulative funding Cyara raised
$375M
across 2 funding rounds
Key investors in Cyara
Greenspring Associates
PeakSpan Capital
K1 Investment Management
About Cyara
Cyara, founded in 2006 in Melbourne by Alok Kulkarni, Luan Tran, and Bonny Malik, provides an Automated CX Assurance Platform that tests and monitors contact centers to help enterprises deliver reliable customer experiences. The platform serves blue-chip customers including Vitality, ABN AMRO, and National Australia Bank, and has expanded to cover chatbot and conversational AI testing alongside traditional voice and digital channel testing. Cyara was bootstrapped to profitability before taking outside investment, building a customer base of more than 250 enterprises across banking, telecom, and other sectors.
Founded
2006
HQ
United StatesWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Cyara Funding History
Cyara has raised a total of $375M across 2 funding rounds.
Cyara's first fundraising round was a $25M Series A in March 2016. The most recent completed round was a $350M undisclosed-stage round in January 2022.
Cyara funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Jan 2022 | Undisclosed stage | K1 Investment Management (lead) | $350M | Cyara, founded in 2006 in Melbourne by CEO Alok Kulkarni, CTO Luan Tran, and Executive Director Bonny Malik, provides an Automated CX Assurance Platform for testing and monitoring contact centers to improve customer experience. The platform helps blue-chip customers like Vitality, ABN AMRO, and National Australia Bank automate CX systems efficiently, establishing Cyara as an early leader in the contact center testing market, estimated by Forrester to reach $6.5 billion by 2024. On January 31, 2022, Cyara secured over $350 million in a Series B growth funding round led by K1 Investment Management, with PeakSpan Capital continuing as a minority shareholder from its prior $25 million Series A in 2016. The investment, advised by Cowen and Morgan Stanley Australia, aims to accelerate product innovation, expand into new digital channels, fund strategic acquisitions, and drive geographic growth. Post-funding, Cyara acquired Botium to add chatbot and conversational AI testing capabilities, strengthening its CX testing leadership. K1, focused on high-growth enterprise software, supports Cyara's strategy to scale as the category leader in automated customer experience. |
| Mar 2016 | Series A | PeakSpan Capital (lead); Greenspring Associates | $25M | Cyara is an omni-channel customer experience testing, discovery, and monitoring platform that helps enterprises deliver flawless customer experiences at scale. The company was founded in 2006 in Melbourne by Alok Kulkarni, Luan Tran, and Bonny Malik, and was bootstrapped to profitability without venture funding until its first institutional round. In March 2016, Cyara closed a $25 million Series A funding round led by growth equity firms PeakSpan Capital and Greenspring Associates. The funding was used to scale the business, expand the SaaS platform, and grow the company's global marketing, business development, sales, and engineering teams. According to PeakSpan partner Philip Dur, Cyara differentiated itself from legacy competitors by serving all customer engagement channels rather than just call centers, positioning the company to dominate its market. At the time of the Series A round, Cyara had already begun building a significant customer base and would later become one of the early leaders in contact center testing and automated customer experience assurance, eventually growing to serve over 250 enterprise customers including National Australia Bank, ABN AMRO, and Vodafone by the time of its subsequent growth funding round. |
Who has invested in Cyara?
3 investors have backed Cyara across its funding rounds, including Greenspring Associates, PeakSpan Capital and K1 Investment Management.
Lead investors include K1 Investment Management and PeakSpan Capital.
Cyara Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| Baltimore, MD | 1 | Participant | Mar 2016 | |
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Start Free TrialAcquisitions by Cyara
Cyara has acquired 4 companies to date.
Last acquisition by Cyara was on November 28th 2023. Cyara acquired QBox for undisclosed valuation.
Latest Acquisitions by Cyara
| Description | QBox is a San Francisco-based conversational AI testing platform that simulates user dialogues across voice assistants like Alexa and Google Assistant. The service generates 10,000 synthetic utterances per hour, evaluating intent recognition accuracy and slot filling via NLU models from Rasa and Dialogflow. QBox provides coverage reports and A/B testing for LLM responses. Founded in 2022, it accelerates QA cycles for chatbot developers in e-commerce and healthcare. | CentraCX is a SaaS voice-of-the-customer platform tailored for Genesys Cloud CX contact centers. The solution captures omnichannel feedback, sentiment analysis, and journey mapping to optimize agent performance and customer satisfaction metrics for enterprises. | Spearline is a Cork-headquartered service testing toll and toll-free numbers globally via in-country calls for audio quality and connectivity. The platform supports manual, automated, mobile, and IVR testing through a network of servers and carriers serving enterprises like Microsoft and Verizon. | Botium is an open-source and SaaS platform for developing, testing, and deploying chatbots across messaging channels like Facebook Messenger, WhatsApp, and Telegram. It provides Botium CLI for automated conversation testing, Botium Box for no-code test case creation, and enterprise-grade analytics to ensure chatbot quality. Vienna-headquartered since 2017, Botium supports voice assistants including Amazon Alexa and Google Assistant, enabling developers to validate natural language processing in diverse conversational UIs. |
| HQ Country |  |  |  |  |
| HQ City | Reading | Melbourne | Skibbereen | Wiener Neustadt |
| Deal Date | 28 Nov 2023 | 20 Jun 2023 | 27 Mar 2023 | 5 Apr 2022 |
| Valuation | undisclosed | undisclosed | undisclosed | undisclosed |
| EV/Revenue | ||||
| EV/EBITDA | ||||
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Cyara Competitors
Cyara competitors include listed companies like Atlassian, Twilio and Zoom, and private ones like Telegram, Discord and Genesys.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Australia | Publicly listed | $6.6B | $142M | $49B | 7.2x | |
| United States | Publicly listed | $5.1B | $251M | $38B | 6.3x | |
 Dubai | Private | - | - | $30B | - | |
| United States | Publicly listed | $4.9B | $2.6B | $27B | 3.9x | |
| San Francisco, CA | Private | $445M | - | $15B | 33.7x | |
| San Francisco, CA | Private | $2.1B | $900M | $15B | 7.1x |
Cyara Public Comps
Cyara is still privately-owned, but its public comps include Atlassian, Twilio, Zoom, iFlytek, Dropbox, Amdocs, NICE, RingCentral, Tata Communications and Box.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $6.6B | $142M | 7.4x | 7.2x | 342.1x | 23.7x | |||
| $5.1B | $251M | 7.1x | 6.3x | 144.6x | 30.2x | |||
| $4.9B | $2.6B | 4.0x | 3.9x | 7.7x | 9.1x | |||
| $4B | $465M | 3.7x | 3.4x | 31.7x | 40.6x | |||
| $2.5B | $854M | 4.4x | 4.4x | 12.9x | 9.4x | |||
| $4.5B | $922M | 1.6x | 1.5x | 7.9x | 6.0x | |||
| $2.9B | $849M | 2.1x | 1.9x | 7.1x | 6.3x | |||
| $2.5B | $339M | 3.0x | 2.9x | 22.1x | 10.5x | |||
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Common questions about Cyara
| When was Cyara founded? | Cyara was founded in 2006. |
| Where is Cyara headquartered? | Cyara is headquartered in United States. |
| Is Cyara publicly listed? | No, Cyara is a private, VC-backed company. |
| How much funding has Cyara raised? | Cyara has raised $375M across 2 funding rounds. |
| What was Cyara's last funding round? | Cyara's last funding round was a $350M undisclosed-stage round in January 2022, led by K1 Investment Management. |
| Who are Cyara's investors? | Cyara's investors include Greenspring Associates, K1 Investment Management and PeakSpan Capital. |
| Which companies are comparable to Cyara? | Companies comparable to Cyara include Atlassian, Twilio, Telegram, Zoom, Discord and Genesys. |
| How many companies has Cyara acquired? | Cyara has acquired 4 companies, including QBox, CentraCX, Spearline and Botium. |
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