Nextiva, the connected communications company, today announced it has raised $200 million in its first external funding round, from Goldman Sachs Asset Management (“Goldman Sachs”) at a $2.7B valuation. The funding will be used to accelerate Nextiva’s vision to help businesses and teams build stronger relationships with their customers as the only company bringing together communications, customer management, intelligence and automation into a single purpose-built solution.

Nextiva plans to accelerate innovation for connected communications, including AI and automation development, build out new routes to market, and advance global expansion. Nextiva brings together communications with applications built for customer sales and service, analytics, as well as an ecosystem of integrations to third-party solutions. This allows Nextiva to uniquely manage all communications and customer engagement in one place, providing truly unified customer insight to every employee.

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“Goldman Sachs is helping advance our mission, which from day one has been to help businesses grow by giving every company access to powerful business tools,” said Tomas Gorny, co-founder and CEO, Nextiva. “Nextiva creates a seamless experience by surfacing insights and learnings from every interaction. By doing this, Nextiva enables companies of all sizes and their teams to better understand and serve their customers and accelerate the growth of their business.”

Stephen Kerns, a vice president within Goldman Sachs Asset Management, commented, “As a native communications company, Nextiva is at the nexus of customer conversation and engagement. They have built a market-leading business with an outstanding team, and we look forward to supporting Nextiva as they help companies discover the power of connected communications.”

Increasing customer expectations and workplace digital transformation are overwhelming companies. On average, businesses are using between 15 to 25 applications to communicate, manage and collaborate with their customers and teams. The result is more logins, endless tabs, and jumping between multiple apps, resulting in customer data getting ‘lost’ between the siloes. Nextiva’s funding and valuation reflect a shift in the market to move away from disconnected communications and siloed applications toward tightly integrated tools and workflows that keep customer communication and engagement at the core.

Nextiva’s first outside funding caps a year of growth with $250M in ARR, continued product development and market leadership as the largest privately held business communications provider in the U.S.