Freshworks raises $150Mn, to offer cloud & automation tools to customers

Increasing adoption of technology has enabled businesses to generate tremendous growth in the past few years. Speculating its importance, investors across the world are pouring in funds to develop efficient software solutions. 

Freshworks, a leading company in customer service software and automation tools, recently was subject to a similar instance as it announced raising $150 million in a Series H funding round which was co-led by Sequioa Capital, Alphabet’s CapitalG, and Accel.

With this round, Freshworks total raised funding reached around $400 million, followed by $100 million series G round last year that has the same three investors. For the record, the company is valued at $3.5 billion, more than double its former valuation. However, the company has not officially closed the fresh round of funding, but has inked a definitive agreement with these investors.

Girish Mathrubootham, Founder and CEO, Freshworks said that, since inception, the company has been leading democratizing software for the entire organization; and it would follow that tradition by offering cutting-edge cloud technologies to ensure software offerings for the entire organization and puts 'customers' back into CRM. 

For a record, Freshdesk is the company’s official customer support product designed to help companies, manage tickets, track customer conversations and coordinate with their broader team. While, over the years, it has diversified into IT service management and customer relationship management.

In fact, Freshworks was earlier known as Freshdesk before it renamed in 2017 to reflect an expansion into all types of offerings, including sales CRM via Freshsales, live chat with Freshchat, call center management using Freshcaller, IT service management with Freshservice and HR software with Freshteam.

The company also offers a fully integrated could bundle called Freshwork 360, which integrates marketing, sales, and support applications to provide users with a complete customer engagement experience. 

Source Credit - https://venturebeat.com/2019/11/13/freshworks-nabs-150-million-to-bring-cloud-and-automation-tools-to-customer-engagement-teams/