Investing.com-- Genesys, a developer of artificial intelligence-driven call center software, has delayed a planned initial public offering due to increased stock market volatility, The Information reported on Wednesday.

The company had initially planned the IPO for April or May, but will now consider an offering later in 2025, The Information reported.

The AI company had confidentially filed for an IPO in late-2024, joining a host of technology firms in capitalizing on booming market interest in AI. Reports had then shown the company could raise as much as $2 billion in the offering.

Major backers of the firm include Salesforce Inc (NYSE: CRM ), Zoom Video Communications Inc (NASDAQ: ZM ), and funds operated by BlackRock Inc (NYSE: BLK ).

Genesys was bought by private equity firm Permira Holdings in 2012, and was then valued at about $1.5 billion.