Post Unicorn tag, Freshworks plans to invest on products, expand internationally

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Chennai | Published: August 2, 2018 12:11:59 AM

Girish Mathrubootham, founder and CEO of Chennai-based SaaS firm Freshworks has said the focus for him now will be to invest on products and expand internationally.

Post Unicorn tag, Freshworks plans to invest on products, expand internationally

Girish Mathrubootham, founder and CEO of Chennai-based SaaS firm Freshworks — the start-up which has just joined the Unicorn club after a fund-raise of $100 million that valued the firm at $1.5 billion — said the focus for him now will be to invest on products and expand internationally.

“At this time, we are expanding in the US, Australia , New Zealand, Europe, West Asia, Africa and Asia-Pacific markets. We will continue with our worldwide expansion. We will also invest in the integrated customer engagement platform experience,” Mathrubootham told FE in an interview.

When asked how he feels about Freshworks achieving Unicorn status, he said that it was something that was bound to happen, with the intensity the company had shown right from the start. “This milestone, though significant, will not deviate us from the journey to create history,” he said.

Freshworks had on Tuesday announced the raising of $100 million in a Series G funding round led by Accel Partners and Sequoia Capital, which also saw participation from CapitalG, taking the total amount raised to $250 million through seven rounds.

On the challenges and opportunities on the way to achieving the milestone of becoming an Unicorn, Mathrubootham said, “Challenges are always aplenty when you are a SaaS start-up. At this point of time, our biggest challenge is moving up-market. We have always been a strong player in the SMB space and now we are moving aggressively into the mid-market. We see it as an opportunity to scale and expand globally and this is just the tip of the iceberg”.

Freshworks had recently touched $ 100 million in its annual recurring revenue.

The company has hired former AppDynamics vice-president of finance and treasury Suresh Seshadri as its chief financial officer. Mathrubootham said that Seshadri will play a huge role in helping with the company’s financial management strategy. “It will point us towards the path to breaking even,” he said.

Seshadri had previously helped prepare AppDynamics for its IPO before it was acquired by Cisco in 2017. Mathrubootham said the company does believe that it will have to eventually go for an IPO, but right now the focus would be to invest on the products and expand internationally.

Since its last funding round, Freshworks has made several acquisitions, around nine in a span of two years, including of 1CLICK, Frilp, Konotor, Framebench and Zarget, to further bolster its product offerings.

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