Freshworks filed paperwork late Friday with the US Securities and Exchange Commission for an initial public offering. The software-as-a-service customer relations management startup wants to list on the Nasdaq Global Select Market and is looking to raise $100 million through the sale of Class A stock.
The company was founded in 2010 and was initially known as Freshdesk and provided helpdesk software for customer support teams. It raised $150 million in late-stage funding in 2019 and has come a long way since then to offer additional products for human resource management, sales, and marketing teams.
Also read: Freshworks to conquer CRM market with simplicity, price and implementation
Freshdesk to Freshworks
The company rebranded to become Freshworks in 2017 and sells itself as a provider of innovative customer management engagement software for businesses of all sizes to make it easy to acquire and keep customers.
Freshworks says it has 50,000 customers in 120 countries. The most notable customers include Delivery Hero, ITV, Vice Media, TaylorMade Golf, Bridgestone, Cisco Systems, Honda Motor Company, and the UK National Services.
A notable player
Freshworks wants to deliver experiences that offer value to end-users in functional use cases around support, customer success, sales, and marketing at a lower price point. Freshworks deploys machine learning since the company builds apps around functional use cases that need machine learning to work. The company has thousands of these ML models that address the specific needs of a customer. Freshworks has raised $484 million, according to Crunchbase data with investors from Tiger Global Management, CapitalG, Sequoia, Accel, and Steadview Capital.
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