With $100 Mn fresh round from Sequoia and Accel, Freshworks is now valued $1.5 Bn

Freshworks

Poster child of Indian B2B SaaS space Freshworks has scooped up $100 million Series G round co-led by Sequoia Capital and Accel Partners. Alphabet Inc-owned CapitalG also participated in the round. With this fresh round, the company has hit a valuation of $1.5 billion.

The San Bruno cum Chennai-based company has also hired AppDynamics Vice President of Finance & Treasury Suresh Seshadri as its Chief Financial Officer. So far, it raised $250 million risk capital across seven institutional round.

Two years ago, FreshWorks had raised $55 million Series F round led by Sequoia. Importantly, it also claims to have $10 million in annual recurring revenue.

Freshworks offers a slew of software tools including CRM for sales, customer support software and IT management amongst others meant for businesses. Currently, the company uses over 150,000 organisations including Cisco, Toshiba, Honda and Hugo Boss.

Last year, the Girish Mathrubootham-led company had rebranded from FreshDesk to FreshWork. So far the company had launched six products such as Freshdesk, Freshteam, Freshservice, Freshsales, Freshcaller and FreshChat.

Since its inception in 2010, the company has acquired eight companies including Airwoot, Framebench, Konotor, Frilp. Last year, it took over Joe Hukum, a platform that helps businesses to build their own chatbots.

Freshworks is also planning to go IPO but it’s likely to happen after a couple of years. According to Mathrubootham, the company would eventually go IPO in the US.

Freshworks is a new avatar of Freshdesks, a software as a service (SaaS) company. Apart from Accel and Sequoia, it is backed by Tiger Global Management and CapitalG.

Freshworks competes with the likes of Zendesk, Salesforce, and in some of its product suites.

The development was first reported by TechCrunch.

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