Tiger Global-backed Freshworks, a leading provider of cloud-based business software, has announced its expansion plans in the Asean market with support from the Singapore Economic Development Board (EDB). The company has also set up its regional hub in Singapore for the purpose.
By opening its first regional hub for the Asean market, Software-as-a-Service (SaaS) firm Freshworks aims to increase customer engagement and consolidate its network of partner resources to meet growing customer demand in the region.
Ranked second by the World Bank among global economies in the ease of doing business, Singapore’s rapid urbanisation and digitisation are driving demand for customer engagement solutions across sectors.
Within the Asean region, Freshworks has registered 45 percent year-on-year growth as of December 2018. The company has an extensive partner and reseller network in the region, covering prominent nations like Malaysia, Thailand, Philippines, Indonesia, Vietnam, Hong Kong and Korea, said a press statement on Tuesday.
Freshworks products are widely used by consultancy, retail and shipping industries from the region. Some of the key customers from the Asean markets are AMOS Group, Decathlon, X-press Feeders, Synpulse and ipay88, among others. According to the Forrester Asia Pacific Tech Market Outlook 17-18 report, middleware SaaS subscription services are expected to double from $2 billion in 2015 to $4 billion in 2018 at a CAGR of 20%.
With the addition of Singapore office, Freshworks, headquartered in San Bruno, US, now has nine global offices with a workforce of over 1,900 employees, spread across four continents.