1. Sequoia Capital, Accel invest $55 m in Freshdesk

Sequoia Capital, Accel invest $55 m in Freshdesk

Chennai-based SaaS (software as a service) start-up Freshdesk, the leading provider of cloud-based customer engagement software, on Tuesday announced a $55-million Series F funding round led by new investor Sequoia Capital India, along with existing investor Accel.

By: | New Delhi | Published: November 2, 2016 6:13 AM

Chennai-based SaaS (software as a service) start-up Freshdesk, the leading provider of cloud-based customer engagement software, on Tuesday announced a $55-million Series F funding round led by new investor Sequoia Capital India, along with existing investor Accel.

Since the last round of funding in April 2015, the company doubled its customer base to over 80,000, opened a new office in Europe and added two new products, Hotline.io, an in-app support and engagement platform for mobile-first businesses, and Freshsales, a CRM solution and sales system for high-velocity sales teams.

Girish Mathrubootham, founder and CEO of Freshdesk, said: “We are excited to have Sequoia Capital India as a new investor, the expertise and the excitement they bring will round out our already world-class team.”

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With the addition of Hotline.io and Freshsales to the product portfolio, the new offerings expand the potential reach to mobile-first companies and sales teams.

Mohit Bhatnagar, MD, Sequoia Capital India, said: “We met Freshdesk four years back when it was getting started and have been tracking their progress closely ever since. They have a world-class product vision and Sequoia is delighted to partner with Girish and lead this growth capital round to help scale India’s leading SaaS company.”

The latest round of funding will be used to accelerate the growth of these products and scaling Freshdesk and Freshservice, as well as the expansion of regional teams across the globe.

“We have been backing Freshdesk since our seed investment. We are excited about Freshdesk becoming one of the global iconic SaaS companies in the future,” said Sameer Gandhi, partner at Accel.

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