Freshworks raises $ 100 million from Sequoia and Accel, hires a new CFO

Freshworks, a global leader in customer engagement software, announced Tuesday that it has secured $ 100 million in funding and hired former Vice President of Finance and Treasury of AppDynamics, Suresh Seshadri, as chief financial officer.

is co-led by Sequoia and Accel, with the participation of CapitalG. It brings to 250 million dollars the amount of capital raised by the company. The cash injection will be used to continue the global expansion of Freshworks and to continue investing in its integrated SaaS platform (software as a service). SAAS companies charge consumers a monthly subscription.

Freshworks provides organizations with SaaS solutions that facilitate the customer support process. They also help sales and marketing professionals communicate effectively with customers and collaborate with team members to solve their problems.

More than 150,000 organizations use Freshworks, including NHS, Honda, Rightmove, Hugo Boss, Citizens Advice, Toshiba and Cisco. The company is headquartered in San Bruno, California, with offices in India, the United Kingdom, Germany and Australia.

"When we started Freshworks in 2010, we were a one-stop business. customer service software to use only what was on the market. Since then, we have increased our recurring annual revenue by $ 100 million and built a complete SaaS platform where all our products – such as Freshsales, Freshdesk and Freshservice – work seamlessly, without the need for additional integration resources. or consultants to simplify the software. "With the addition of Suresh who directs our financial management and our strategy towards a balance between free cash flow and our latest financing, probably the last, private, up, we believe we have a unique opportunity to "Attracting customers from around the world who have been disappointed by the existing solutions," added Mohrit Bhatnagar, Managing Director of Sequoia Capital India Advisors, "Sequoia initially supported Freshworks in 2016 and has not yet been successful. did not hesitate for a moment to double on the investment. "

& # 39; & # 39; Girish and his team have worked tirelessly to build Freshworks into a Saer leadi SaaS India is truly global with customers in 127 countries. "

Sameer Gandhi, a partner at Accel, said," The enterprise software landscape is bursting with inflexible, expensive, and expensive solutions today. "

" Freshworks has built the only customer engagement platform on the market that elegantly meets the needs of a business of any size with modern, intuitive and affordable software. We are confident that the Freshworks approach is the way forward for companies looking for a better approach. "

Mohit Bhatnagar, Managing Director of Sequoia Capital India Advisors, said:" Sequoia first supported Freshworks in 2016 and did not hesitate "

" Girish and his team have been working without release to make Freshworks one of the leading SaaS companies in India, a truly global company with clients in 126 countries. be a long-term business partner for the founders and support them at every stage of their business growth.

Suresh Seshadri, the company's new CFO who had previously helped AppDynamics on its IPO prior to its acquisition by Cisco in 2017 ". Freshworks has experienced an incredible growth wave. & # 39; & # 39;

"Coming on board to work with Girish and the rest of the management team is an incredible opportunity and I am confident we are well positioned to reach the next phase of the Freshworks expansion." [19659002] Since its last round of funding, Freshworks has made several technology acquisitions to strengthen its product offerings, many of which have been featured in its recently announced cloud package, Freshworks 360, which includes sales, marketing and marketing applications. support to provide users with a complete and easy-to-use customer engagement experience