Founders: Paul Carew, Ron Lutz, Steve Raich, Brendon Mills
Date launched: 1999
Funding: $550 million
Industries disrupted: Software solutions, customer service
Source: GENBAND
David Walsh, CEO of GENBAND
Phone-based customer service could soon improve, thanks to Genband. The Frisco, Texas-based company makes software for telecoms and cable TV operators. In 2013 it acquired a start-up called Fring, an Internet-based mobile platform that allows users to communicate with businesses using voice, video or screen-sharing. The purpose of the technology is to give customers a better experience when they phone a call center.
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Genband renamed this new communication platform Kandy, and CEO David Walsh has said in the press that it will be Genband's fastest-growing product line. In addition to providing the interactive service, the company says its Kandy platform helps clients save money by enabling them to serve customers more quickly. Clients pay for usage based on the amount of traffic they have managed. Walsh believes that most websites will eventually have real-time communication capabilities available and ready for use on their home page.
The company's customers are located in more than 80 countries and help bring in about $1 billion in annual revenue. Since its 1999 debut, Genband has attracted $550 million in venture financing from companies, including One Equity Partners.
"The bigger the network, the more valuable it is. We quantify our impact based on the number of users for our products, how many applications have our tech embedded in them, and the size of our community."
