Five9 Agrees to Buy Level AI for $325 Million Cash

What did Five9 agree to buy?

Five9 said on November 5, 2026, that it has entered into a definitive agreement to acquire Ujwal, Inc., which does business as Level AI, in an all-cash merger valued at $325.0 million before customary closing adjustments. Under the agreement, Level AI would become a wholly owned subsidiary of Five9, but the transaction was announced rather than completed.

The merger agreement covers Level AI’s outstanding shares, options and warrants. Five9 said the consideration will be funded with cash on hand from its balance sheet, and its board unanimously approved the deal.

Why does Five9 want Level AI’s technology?

Five9 framed the acquisition as a way to extend its AI-powered customer experience platform with software designed to improve agent performance, automate more customer interactions across voice and digital channels, and turn customer conversations into organizational insights.

The company said it plans to offer Level AI’s applications in two ways: as standalone products for enterprises that have not moved their contact centers to the cloud or that use another cloud platform, and inside the Five9 Genius CX Platform. Five9 also said the acquisition would add experienced AI-native builders to its team.

Level AI described its product suite as including AI agents, agent assist, quality management, Voice of the Customer, coaching and AI Workers on a single conversation intelligence layer. The company said its platform runs on Latitude, its proprietary family of AI models built for customer conversations. Level AI claimed its Latitude models deliver up to 49x lower cost and 4x lower latency than frontier models, though that claim came from the company itself.

How have Five9 and Level AI worked together before?

The two companies said they have worked together since 2022, with Level AI applications available through the Five9 CX Marketplace and integrated with the Five9 platform. Five9 said Level AI’s applications are already in production with enterprise customers and handle more than one billion customer interactions a year.

Five9 also said it powers contact centers for more than 4,000 customers across more than 140 countries and that its platform has been cloud-native since 2001. In a separate description of the deal, Five9 said the acquisition fits a broader effort to use AI not only for frontline automation but also for back-office CX work such as research, analysis and planning.

Level AI said the transaction should expand its availability across Five9 and other customer-experience platforms, including cloud and on-premises environments. The startup also said it already had shared customers using both Level AI and Five9 products before the acquisition agreement, and that there would be no immediate changes to contracts, invoices or support contacts before closing.

What happens next for customers and the deal?

Five9 said the transaction is expected to close in the fourth quarter of 2026, subject to customary closing conditions. Its SEC filing says the merger agreement includes customary representations, warranties and covenants, and that it can be terminated if the deal has not closed by February 5, 2027, subject to cure periods for breaches. Neither company would owe a termination fee if the agreement is terminated.

Until closing, Five9 said the two companies will continue operating separately and that it is business as usual for Five9 customers. Five9 also said the pending Level AI acquisition was not included in its financial guidance. In its third-quarter earnings materials, the company said the deal was still expected to close in 2026 and that guidance excluded any contribution from Level AI.

The deal is part of a broader push by Five9 to deepen its contact-center software stack with AI-native tools for both customer-facing and internal CX workflows. Five9 said Level AI was founded by former Amazon Alexa product leader Ashish Nagar and serves enterprise customers including Gusto, Chime, Empyrean and VistaPrint. The company also said Level AI is backed by Adams Street Partners, Battery Ventures, Eniac Ventures and others.