Founded in Chennai, Freshworks, a leading software company empowering businesses to delight their customers and employees, has became the first Indian SaaS company to go public on the Nasdaq.
Girish Mathrubootham, CEO and Founder of Freshworks and a few employees visited the Nasdaq MarketSite in Times Square and rang the Opening Bell.
Freshworks builds customer experience (CX), IT service management (ITSM) and customer relationship management (CRM) software that is affordable, quick to implement, and designed for the end user.
Founded by Girish Mathrubootham and Shan Krishnasamy in 2010, Freshdesk raised worth $1 million from VC firm Accel in 2011 and its second round of funding was worth $5 million. It raised the money from New York-based investment firm Tiger Global Management and Accel in 2012.
In 2017, the company rebranded as Freshworks and crossed $100 million in annual recurring revenue in 2018. Accel, Tiger Global Management, CapitalG and Sequoia Capital India are the company’s investors.
This year, the company crossed $300 million in annual recurring revenue.
Headquartered in San Mateo, California, Freshworks has a dedicated team operating from 13 global offices to serve over 52,000 customers including Bridgestone, Chargebee, DeliveryHero, ITV, Klarna, Multichoice, OfficeMax, TaylorMade and Vice Media.
Freshworks said that 500 of its employees in India had turned crorepatis, on account of owning the company’s stock. Close to 76% the company’s employees now own shares.
“Nearly 70 of our 500 crorepatis are below the age of 30. I believe that each of my employees has earned this. Wealth has to be shared with the people who helped create it. It’s not only for founders and CEOs to enjoy,” said Mathrubootham.
