Freshworks CRM: Freshworks surpasses $300 million in ARR, grows business by 40%

Freshworks Inc., the customer engagement software company, on Tuesday announced that it had surpassed $300 million in ARR, growing the business by 40% year over year.

“Like everyone, our 2020 plan went out the window when the pandemic hit, but our hard-working team persevered,” said Girish Mathrubootham, Freshworks founder and CEO. “Our mission is to create customers for life and during this past year, this goal was put to the test. Our team rose to the challenge and rallied around our customers to help them navigate unknown waters and empower their employees to respond to increasing customer demands.”

The company said the record year featured new product offerings, strategic acquisitions to accelerate AI and an expanded executive team to fuel its next phase of growth – reaching the billion-dollar revenue milestone.

“Freshworks’ impressive growth is not only a testament to the company’s creativity and can-do culture, but also reflects how businesses are looking for new and innovative ways to connect with their customers,” said Sameer Gandhi, partner at Accel. “Freshworks delivers powerful, easy-to-use cloud-based solutions packaged in a flexible and affordable way, which is even more relevant in 2021 and beyond.”

During 2020, the company unveiled Freshworks CRM, a single solution that unifies the customer journey with out-of-the-box capabilities and delivers more personalized conversations at every customer touchpoint for improved business outcomes.

The Freshworks CRM solution is built on Freshworks Neo, a new and fundamental reimagining of the platform experience, which aggregates data on an embedded customer data platform for personalized customer engagement, improved lead conversion and sales growth.

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Freshworks also closed two acquisitions in 2020. The company acquired AnsweriQ, a provider of ML and AI for larger enterprises. AnsweriQ complements Freshworks’ AI engine, Freddy, by enabling enterprise organizations to use existing customer data to scale self-service experiences and automate complex customer workflows.

The company also acquired Flint, a leading IT orchestration and cloud management platform, to bolster Freshservice’s IT service management (ITSM) and IT operations management (ITOM) capabilities. This acquisition provides greater visibility for IT teams to better manage hybrid infrastructures, optimize spend and automate employee workflows.

Freshworks also went on to hire numerous seasoned tech veterans to provide increased focus and oversight in key areas of the business. It extended its senior executive team by adding Chief Financial Officer Tyler Sloat (from Zuora, Inc.), Chief Customer Officer Pradeep Rathinam (from AnsweriQ Inc. and Microsoft Corporation), Chief Product Officer Prakash Ramamurthy (from Oracle Corporation) and Chief Revenue Officer José Morales (from Atlassian).


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