Freshworks secures $100m for growth
Freshworks has secured $100 million in a funding round co-led by Accel and Sequoia, with participation from CapitalG. It brings the total amount raised by the company to $250 million.
The global leader in customer engagement software has also hired former AppDynamics vice president of finance & treasury Suresh Seshadri as its chief financial officer.
The cash infusion will act as a boost to Freshworks' worldwide expansion as well as continued investment in its integrated SaaS (Software as a Service) platform.
Freshworks provides organizations of all sizes with SaaS solutions that make it easy for customer support, sales and marketing professionals to communicate effectively with customers for better service and collaborate with team members to resolve customer issues.
To date, over 150,000 organizations worldwide use Freshworks, including NHS, Honda, Rightmove, Hugo Boss, Citizens Advice, Toshiba and Cisco.
The company is headquartered in San Bruno, California, and has offices in India, the UK, Germany and Australia.
"When we started Freshworks in 2010, we were a single-product company with a goal of offering better, easier-to-use customer service software than what was in the market," said Freshworks co-founder and CEO Girish Mathrubootham.
“We've since scaled our company to $100m in annual recurring revenue and built a full SaaS platform where all of our products - such as Freshsales, Freshdesk, and Freshservice - work together seamlessly, without requiring additional integration resources or consultants to make the software simply work.
"With the addition of Suresh leading our financial management and strategy toward a path of free cash flow break-even and our latest - and likely last - private funding round in place, we believe we have a unique opportunity to attract customers from around the globe who have been let down by legacy solutions."
Sameer Gandhi, a partner at Accel said: "The business software landscape today is teeming with bloated, inflexible and expensive solutions.
"Freshworks has built the only customer engagement platform on the market that elegantly meets the needs of a business of any size with software that is modern, intuitive and affordable.
“We're confident that the Freshworks approach is the way forward for businesses seeking a better approach."
Since its last funding round, Freshworks has made several technology acquisitions to further bolster its product offerings.
Several of these technologies were featured in its recently announced cloud bundle, Freshworks 360, which brings together sales, marketing and support applications to provide users with a full, easy-to-use customer engagement experience.