UPDATED 11:08 EST / NOVEMBER 13 2019

CLOUD

Customer relations management unicorn Freshworks raises $150M in late-stage funding

Freshworks Inc., an Indian company that sells business software tools ranging from information technology management to customer sales and support software, today announced its biggest funding to date, a late-stage $150 million round.

The Series H round was led by existing investors Sequoia Capital, CapitalG and Accel, and brings Freshwork’s total amount raised to date to $399 million. The company, which had already achieved unicorn status, is now valued at $3.5 billion.

Freshworks was founded back in 2010, beginning its life as Freshdesk, a provider of helpdesk software for customer support teams. But the company has come a long way since then, expanding to offer additional products for sales, marketing and human resource management teams.

That expansion prompted a 2017 rebrand to Freshworks. The company now has more than 150,000 customers worldwide, including the U.K.’s National Health Service, Honda Motor Co. Ltd. and Cisco Systems Inc.

Now the company believes the time is ripe for further expansion, and that’s exactly what it’s doing with the launch of its new Customer-for-Life Cloud. The new offering establishes a common data platform that consolidates customer information from across its marketing, sales and support products.

Sales and support teams will be able to respond more efficiently to customer inquiries and create new sales opportunities, Freshworks said. The Customer-for-Life Cloud also draws on artificial intelligence to provide recommendations based on a customer’s data, which is intended to improve customer satisfaction and retention.

“The 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 underdelivered with eye-popping regularity,” Freshworks co-founder and Chief Executive Officer Girish Mathrubootham said in a statement.

Freshworks said it will use the new funds to fuel its worldwide expansion and accelerate investment in its software products.

Photo: Freshworks/Facebook

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