After stepping down as CEO in May 2024, Girish Mathrubootham will now exit Freshworks fully by relinquishing his role as executive chairman from December 1. He will be succeeded as chairperson by Roxanne Austin, the company’s lead independent director and board member since May 2021. Dennis Woodside, who replaced Mathrubootham as CEO last year in May, continues to lead the company’s management.
End of an era and a new chapter
Mathrubootham’s decision marks the end of a 15-year journey with the firm he founded in 2010. What started as Freshdesk in a small apartment in Chennai grew into Freshworks, a Nasdaq-listed global player in customer engagement software. His departure underscores a generational shift in leadership at one of the country’s most prominent software-as-a-service (SaaS) companies.
The company confirmed in a regulatory filing that Mathrubootham had informed the board on September 3 about his retirement from the executive chairman role, Class III directorship, and chairmanship. It also clarified that the decision was not due to any disagreement with Freshworks’ operations or policies.
Known as “G” among colleagues and peers, Mathrubootham is regarded as one of the most influential founders in India’s SaaS sector. Leaving a senior role at Zoho, he set up Freshdesk with a handful of colleagues, initially targeting the customer support market. The company gradually expanded its product suite to serve a broader range of customer engagement needs and attracted a global customer base.
The company’s 2021 Nasdaq listing was a turning point. It made Freshworks the first Indian SaaS firm to go public in the US and instantly created hundreds of employee millionaires in India. That moment also cemented Mathrubootham’s status as a pioneer, showing that Indian product companies could compete at a global scale.
Freshworks’ AI-Driven future and Mathrubootham’s next act
The timing of his exit coincides with a period of transition for the SaaS industry, which is being reshaped by artificial intelligence. His successor as CEO, Dennis Woodside, a former Dropbox executive, has signaled that Freshworks must evolve into an AI-driven company rather than rely solely on its SaaS positioning. Under his leadership, Freshworks has focused on profitability, including a major workforce reduction last year, while also benefiting from rising AI-related demand.
For the quarter ended June 30, Freshworks reported 18% year-on-year revenue growth to $205 million, while narrowing its GAAP operating loss to $8.7 million from $43.8 million a year earlier. The company also raised its full-year guidance for both revenue and profit for the second consecutive quarter.
Beyond Freshworks, Mathrubootham has had a broader impact on India’s startup landscape. His efforts to put Chennai on the global SaaS map, including initiatives such as SaaSBoomi, helped foster a new generation of founders often described as the “Freshworks mafia”. He has frequently spoken about building India into a true “Product Nation,” a vision that shaped both his company and his community work.
Looking ahead, he plans to devote his time to Together Fund, the venture capital firm he co-founded, with a focus on backing the next wave of AI startups. He believes the coming era of AI offers India a fresh opportunity to build globally relevant products, and he wants to channel his energy into helping founders take advantage of that shift.
Mathrubootham continues to own about 5% of Freshworks and will remain a shareholder after his departure. His exit closes a defining chapter in India’s SaaS story but also signals the start of his next act as an investor and mentor.