India's Freshworks raises $100 million from Accel, Sequoia and CapitalG

Freshworks CEO and co-founder Girish Mathrubootham now runs considered one of India's first unicorns.Courtesy of Freshworks

Freshworks, an India-based gross sales and customer support software program firm, introduced a $100 million funding spherical at a $1.5 billion valuation.
This makes it considered one of India's first unicorns — and the nation's solely unicorn within the enterprise software program house.
The funding was led by Accel and Sequoia with participation from Google's CapitalG.

Like many startup founders, the trajectory of Girish Mathrubootham's profession modified due to an aha second. 

The Chennai, India-based Mathrubootham had simply moved again house after dwelling a while in Austin, Texas. A tv he shipped throughout his transfer arrived damaged, and he wasn't having any luck getting by way of to customer support to get reimbursed for his troubles.

As these tales go, Mathrubootham knew there needed to be a greater approach to get prospects in contact with the businesses that serve them. So he co-founded Freshworks — then referred to as Freshdesk — to do exactly that.

“After we began Freshworks in 2010, we have been a single product firm with a objective of providing higher, easier-to-use customer support software program than what was out there," Mathrubootham stated in a press release.

On Tuesday, Freshworks introduced $100 million in funding from Silicon Valley traders Accel and Sequoia, with participation from Google's CapitalG. The corporate is now valued at $1.5 billion, making it the primary enterprise software program unicorn to ever come out of India, in accordance with the corporate.

And in June, the corporate introduced one other milestone: $100 million in annual recurring income, because of prospects like Honda and Cisco. 

Whereas India has deep connections to the US tech business, thus far it has yielded only a few globally profitable startups. One main exception to that's Flipkart, an e-commerce firm which bought to Walmart for $16 billion in Could. 

However Freshworks traders assume the 8-year-old startup — which positions itself as a low-cost different to customer support, gross sales and advertising and marketing platforms resembling Salesforce and ServiceNow — may show an exception to the rule.

"Sequoia first backed Freshworks in 2016 and did not hesitate for a second to double down on the funding," Sequoia investor Mohit Bhatnagar stated in a press release. "Girish and his group have labored relentlessly to construct Freshworks into a number one SaaS firm from India – one that's really international with prospects throughout 127 international locations."

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