Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Freshworks.
Freshworks is a company with various business products, which are easy to use. Freshdesk is a customer support software, freshchat is a customer messaging software, freshworks CRM is a CRM software, freshservice is an IT service management software, freshcaller is a call center software, freshteam is a human resources software, freshping is a website monitoring tool, freshstatus is a communication software and freshsuccess is a customer success software. Read all about the Freshworks success story below.
Freshworks - Company Highlights
| Company Name | Freshworks |
|---|---|
| Headquarters | San Mateo, California, US |
| Sector | Software, SaaS |
| Founders | Girish Mathrubootham and Shan Krishnasamy |
| Founded | 2010 |
| Website | freshworks.com |
Freshworks - About
Freshworks - Startup Story
Freshworks - Founders And Team
Freshworks - Logo
Freshworks - Business Model
Freshworks - Revenue Model
Freshworks - Funding And Investors
Freshworks - Growth
Freshworks - Competitors
Freshworks - Future Plans
Freshworks - FAQs
Freshworks - About
Freshworks is a company providing businesses of all sizes with innovative SaaS customer engagement solutions. The job is to make things easy for the teams to acquire customers and keep them for life. The products of the company provide a 360-degree view to the customers.
Freshworks - Startup Story
The founder of the company was an employee of Zoho Corporation. While he was reading an article on Hacker News he found the prices rising to 300% and how the Zendesk users were unhappy about it. He found a comment, where it was written that there's a big opening in the market for someone to come in and take all Zendesk customers. It was a slap on his face. He knew that opportunity was sitting right in front of him and also he had knowledge about the transition taking place. Then, he thought he should do something in the customer support market delivered as SaaS. The next few weeks turned out to be stressful. He was very excited about his new idea but didn't expose the fact. He spoke to his friend about the matter and he immediately agreed. They both resigned and freshworks came into existence with a team of six people.
Freshworks - Founders And Team
The founders of Freshworks are Girish Mathrubootham and Shan Krishnasamy.
Girish Mathrubootham is the founder and the CEO of freshworks. Previously, he used to work at Zoho Corporation as a Vice President and Director of Product Management. He also worked as a Product Manager at AdventNet Inc. for a time period of 4 years and 2 months.
Shan Krishnasamy is also the Founder and CTO of the company Freshworks. He too used to work at Zoho Corporation as a technical architect. He pursued his bachelor's degree from TPGIT.
Freshworks - Logo
Freshworks - Business Model
The Freshworks business model totally depends on doing upmarket sales and it's products. The company has got an unique global inside sales model. Business software is expensive and hard to use. People waste hours to get things worked. In the end, corporations hire employees to take care of the software. Freshworks provide better software, ready to go software and easier to use. Customers trust the products here and are also backed by a good call support.
Freshworks - Revenue Model
With a customer base of 40,000+, the company is doing good. It raised revenue of INR 17 crore during the years 2017 and 2018. The company even had higher employee benefit expenses. For certain period expenses was INR 364 crores. It was 61% greater than the last expense which was INR 226 crores. Freshworks reported that the company has seen a profit of INR 30 crores at the end of March 2019.
Freshworks - Funding And Investors
The company has raised a total amount of $484 million in funding over the 9 funding rounds.
| Date | Transaction Name | Money Raised | Lead Investors |
|---|---|---|---|
| January 1, 2020 | Secondary Market | $85 million | Steadview Capital |
| November 4, 2019 | Series H | $150 million | Accel, CapitalG, Sequoia Capital |
| July 31, 2018 | Series G | $100 million | Accel, Sequoia Capital India |
| November 1, 2016 | Series F | $55 million | Sequoia Capital India |
| April 20, 2015 | Series E | $50 million | Tiger Global Management |
| June 12, 2014 | Series D | $31 million | Tiger Global Management |
| November 21, 2013 | Series C | $7 million | Accel |
| April 26, 2012 | Series B | $5 million | Tiger Global Management |
| December 2, 2011 | Series A | $1 million | Accel |
The company is funded by 6 investors. Accel is the most recent one.
Freshworks - Growth
The company broadened its corporate footprint by opening offices in Paris, Netherlands, France and Utrecht. It is on the heels of expanding the existing office in London. It also hosted Refresh19 London, this was the first-ever conference held there. It attracted around 400 attendees. It also grew its presence outside Europe in APAC by partnering with OrangeOne Corporation which is a leading software provider in Japan. It has got offices in Hyderabad, Melbourne, etc. This all shows how the company is growing on a larger scale.
Vibhavari Madki
Freshworks - Competitors
The top Freshworks competitors are Zoho, Zendesk and SugarCRM.
- Zoho is the top competitor of Freshworks. It is headquartered at Pleasanton, California. It was founded in 1996. The company works in the Application Software field.
- Zendesk is seen as one of the rivals of Freshworks. It was founded in 2007 at San Francisco, CA, USA. The company competes in the Customer Relationship Management industry.
- SugarCRM is also one of the biggest rivals of Freshworks. It was founded in 2004 at Cupertino, California, USA. It operates within the Customer Relationship Management industry.
Freshworks - Future Plans
The leading cloud-based business software provider announced its expansion to the African market. It aims to increase its commitments with investments in marketing, partner and sales resources to serve its customers, in a better way.
Freshworks - FAQs
What is Freshworks?
Freshworks provides intelligent customer engagement software for businesses of all sizes, making it easy for teams to win customers for life.
Is Freshworks an Indian company?
Yes, Freshworks is an Indian company founded in Chennai, India but is now headquartered in US.
How much is Freshworks worth?
The Freshworks valuation is estimated to be more than $3.5 billion.
Author: Purbalee Dutta
Source : https://startuptalky.com/freshworks-success-story/
Date : 2021-04-30T16:35:00.000Z