Five9 to buy Level AI for about $325 million in cash

Five9 said on Thursday, Nov. 5, 2026, that it has entered a definitive agreement to acquire Level AI, an AI-native customer-experience platform, in a cash deal that values Level AI at about $325 million, paid from Five9's balance sheet.

Contact centers do not want another chatbot demo. They want AI that sits on the calls they already run. Five9 is buying a proven CX-native stack for cash and promising to sell it even to customers who will not move their entire center onto Five9 — which is how you grow software when the buyer is allergic to rip-and-replace.

Five9, Inc., which trades on Nasdaq as FIVN, entered a definitive agreement to acquire Level AI. The legal entity is Ujwal, Inc., which does business as Level AI. Five9's board approved the deal unanimously. A definitive agreement is a signed promise to buy. The companies have not closed it. Five9 sells the Genius CX Platform. CX is customer experience: the calls, chats, and follow-ups a company runs with its customers. Those lines are Five9's.

The transaction values Level AI at approximately $325 million, paid in cash from Five9's balance sheet. The final check can move for customary closing adjustments covering cash, debt, transaction expenses, and net working capital. A balance sheet, here, means cash the company already holds, not new shares printed to pay the seller. Net working capital is the short-term money tied up in running the business. Those lines are Five9's.

Five9 expects the deal to close in 2026. Its third-quarter earnings materials also say the fourth quarter of 2026. Closing still depends on customary conditions. The merger agreement includes a drop-dead date of Feb. 5, 2027. A drop-dead date is the last day the contract can sit open. Under the termination paths described in the release, neither party owes a termination fee. A termination fee is a breakup payment. Those lines are Five9's.

Level AI builds AI applications for the customer journey: agent assist, automation across voice and digital, quality management, Voice of the Customer, coaching, and AI Workers. Agent assist is a prompt that shows up for a human while a call is live. Voice of the Customer is the work of turning what callers say into something a manager can read. AI Workers, here, are software that handles pieces of the job. The apps run on Level AI Latitude, Level AI's own family of models built for customer conversations. Level AI handles more than one billion customer interactions a year for enterprise customers including Gusto, Chime, Empyrean, and VistaPrint. Those lines are Five9's and Level AI's.

Five9 plans to offer the apps two ways. Enterprises still on premises, or on another cloud contact-center platform, can buy them as standalone products. On premises means the contact-center software still runs in the customer's own building. A contact center is the operation that answers customer calls and chats. The same apps also become part of the AI application layer inside the Five9 Genius CX Platform. The companies have partnered since 2022, and Level AI's apps are already in the Five9 CX Marketplace. Combined with Five9's distribution, the apps reach more than 4,000 Five9 customers. Those lines are Five9's.

Advisors to Five9 are Centerview Partners on the finances, Sidley Austin on the law, and Joele Frank on communications. Level AI is backed by Adams Street Partners, Battery Ventures, Eniac Ventures, and others. Those lines are Five9's.

Amit Mathradas, chief executive of Five9, said: "Our vision for the future of CX is one where AI and human agents work as a coordinated system, each making the other better." Ashish Nagar, founder and chief executive of Level AI, said: "Joining Five9 brings our CX-native models and AI applications to thousands more contact centers around the world, while we continue to support the organizations that rely on Level AI today." Those quotations are theirs.

The picture is Level AI's Auto-QA quality-scoring screen, the surface inside the customer-experience stack Five9 is buying. It shows an 85% PASS score with empathy, professionalism, and policy metrics. The credit is Level AI.

In plain terms, Five9 agreed to buy Level AI for about $325 million in cash it already has. The software sits on the calls a contact center already runs, and Five9 says it will sell that software even to companies that will not move their whole center onto Five9. The agreement is signed. Closing is still ahead, expected in 2026, and the contract can run until Feb. 5, 2027.