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SaaS unicorn Freshworks raises $150 million, crosses $3.5 billion valuation
Last updated on Nov 14, 2019, 07:18 pm
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SaaS unicorn Freshworks, which provides an integrated suite of cloud-based business/customer engagement tools, has raised $150 million in a Series H round of funding.
The investment was led by the company's existing batch of investors - Sequoia Capital, CapitalG, and Accel (the company's first investor).
Notably, with this funding, its valuation now stands at around $3.5 billion.
Here's all about its fund-raise.
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Freshworks
Giants like Honda and Toshiba are Freshworks' clients
![Giants like Honda and Toshiba are Freshworks' clients]( "Giants like Honda and Toshiba are Freshworks' clients")
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Founded in 2010 by Girish Mathrubootham and Shan Krishnasamy, Freshworks follows a B2B model and provides SaaS (software-as-a-service) based customer engagement solutions.
The company claims that its services make it easy for support, sales and marketing professionals to handle their customers' needs. In fact, its cloud-based suite is used by as many as 150,000+ businesses globally, including giants like Honda, Toshiba, Cisco, and Rightmove.
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Future plans
How Freshworks will use the funds?
![How Freshworks will use the funds?]( "How Freshworks will use the funds?")
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Notably, Freshworks will deploy the funds to expand its footprint and have a worldwide presence. The company will also boost investment in its integrated SaaS platform.
As part of this, the start-up has announced a Customer-for-Life Cloud, which unifies data from its several customer engagement products and establishes a common data platform, enabling businesses to quickly respond to customers' queries.
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Quote
Customer-for-Life Cloud helps businesses to to sharpen their customer understanding
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Explaining about Customer-for-Life Cloud, Girish Mathrubootham, Freshworks's CEO, said, "Customer-for-Life Cloud enables businesses to sharpen their customer understanding to better predict and enable success, displacing dismal legacy SaaS solutions that have over-promised and under-delivered with eye-popping regularity."
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Investment
Meanwhile, here's a look at its previous investments
![Meanwhile, here's a look at its previous investments]( "Meanwhile, here's a look at its previous investments")
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Prior to this investment, Freshworks had raised $100 million in Series G round in July 2019, marking its official entry into the unicorn club.
The company is backed by giants like Accel, Tiger Global Management, CapitalG, and Sequoia Capital and has raised $399 million of capital since its inception.
Its aggregate valuation now stands at more than $3.5 billion.
