Source: LiveMint.com, Aug 01, 2018
Bengaluru: Software provider Freshworks has become the third Indian startup to enter the unicorn club this year after it raised $100 million at a valuation of more than a billion dollars from existing investors Sequoia Capital, Accel Partners and CapitalG. Chennai-based Freshworks, which has now raised $250 million since its inception in 2010, also named Suresh Seshadri, a former senior executive at US-based software company AppDynamics, as its chief financial officer, ahead of a potential IPO.
Freshworks’ valuation has roughly doubled to $1.3-1.4 billion in its latest funding round, a person familiar with the matter said. Freshworks, which competes with companies such as Zendesk and behemoths like Salesforce, last raised $55 million at a valuation of $700 million in late 2016. The company will use the new capital to improve its SaaS (software as a service) platform and expand sales globally.