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Freshworks

Freshworks

Freshworks Inc. is an American, cloud-based customer engagement company.

Freshworks Inc. is an American, cloud-based customer engagement company.

History

The company was founded as Freshdesk in October 2010 by Girish Mathrubootham and Shan Krishnasamy. It rebranded to the Freshworks in 2017. The company headquarters is located in San Bruno, California, with global offices across India, UK, Australia and Germany.

Funding

Freshworks has raised funds from Accel, Tiger Global Management, CapitalG and Sequoia Capital India. This was mainly used to enable research and development of product evolution, new product augmentation and marketing campaigns.

Freshworks raised its Series A funding of $1 million from Accel Partners in November 2011. In April 2012, Tiger Global and Accel Partners invested $5 million in a Series B round. In November 2013, $7 million was funded by Accel Partners in a Series C round. In June 2014, Freshworks received $31 million in Series D funding from Tiger Global Management along with Accel Partners and Google Capital. In November 2016, Freshworks received $55 million in a Series F round, from Sequoia Capital India along with Accel Partners. In July 2018, Freshworks secured $100 million in a Series G round from Sequoia Capital and Accel Partners, with participation from CapitalG as well.

Initial Public Offering

On September 22, 2021, Freshworks made a debut on Nasdaq at a valuation of $13 billion, at the close of its first trading day. The company raised $1.03 billion, selling 28.5 million shares at $36 per share. The shares started trading at a 21% premium to the IPO price and closed the day 32% higher at $47.55.

Products and services

Freshworks offers a range of customer support and sales software. These include Freshdesk, Freshservice, Freshchat, and others.

Timeline

September 22, 2021
Freshworks made a debut on Nasdaq at a valuation of $13 billion, at the close of its first trading day.
July 9, 2020
Freshworks announces that it has acquired Flint, an IT orchestration and cloud management platform based in India.
January 1, 2020
Freshworks raises $85M from Steadview Capital in a Secondary Market Round.
January 1, 2020
Freshworks raises a $85,000,000 corporate funding round from Steadview Capital.
November 13, 2019
Series H

Freshworks has raised $150 million in Series H funding round from Sequoia Capital, CapitalG (formerly Google Capital) and Accel.

November 4, 2019
Freshworks raises a $150,000,000 series H round from Sequoia Capital.
July 2018
Freshworks raises a $100,000,000 series G round from CapitalG and Sequoia Capital.
November 1, 2016
Freshworks raises $50M from Tiger Global Management in a Series E Round.
November 1, 2016
Freshworks raises a $55,000,000 series F round from Sequoia Capital.
April 20, 2015
Freshworks raises $55M from Sequoia Capital in a Series F Round.

Funding Rounds

Acquisitions

Patents

Further Resources

Title
Author
Link
Type
Date

News

Title
Author
Date
Publisher
Description
Brand Post
September 27, 2021
CIO
Hear from a new generation of IT leaders challenging the status quo
Zee News
September 24, 2021
Zee News
500 Indian employees of Freshworks become crorepatis after the software-as-a-service (SaaS) company was listed on Nasdaq on Wednesday (September 24). At the time of listing, the company was valued at $12.2 billion after it opened 21% above the initial offering price of $36 apiece.
September 23, 2021
https://www.outlookindia.com/
The San Mateo, California-headquartered software as a service (SaaS) company was founded in 2010 by Girish Mathrubootham and Shan Krishnasamy in Chennai.
Alex Wilhelm
September 20, 2021
TechCrunch
Freshworks now expects to charge between $32 and $34 per share in its debut, up from the $28 to $32 per-share range that it initially disclosed.
Walter Thompson
September 14, 2021
TechCrunch
Are founders in fundraising mode short-sighted when it comes to working with Chinese venture funds? Runa Capital's Asia business development manager Denis Kalinin studied data from iTjuzi, a database of Chinese venture capitalists, and found: "...Chinese funds invested around $250 billion in 2020 (three times higher than the figure reported in Crunchbase). This figure puts [...]
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References

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