Tue. Oct 3rd, 2023

SaaS-based startup Freshworks, based out of Chennai and San-Mateo, is set to invest in developing chatbots, cited ET.

While, Girish Mathrubootham, CEO of Freshworks told ET that artificial intelligence-enabled conversations between brands and customers have started becoming a global trend.

“We are heavily investing in expanding our AI capabilities with Freddy, our AI-powered omnibot, which learns from customer interactions and provides a human experience to end users,” he added.

Chennai-based Freshworks was founded by Girish Mathrubootham, Shan Krishnasamy in 2010. It provides SaaS-based solutions for organisations to enhance customer support, sales and marketing professionals by creating better communication channels to enhance customer experience and facilitating quicker resolution of issues.

Mathrubootham further said that Freshworks will supplement its chatbots initiative with the recent acquisition of US-based startup Natero, providing a customer-activity dashboard based on machine-learnt analyses of customer behaviour.

The company, driven by the North American, UK and European markets, sees India as one of its fastest growing markets. It is also, in the process of entering East and South America.

Online retailers, head-hunters and tourism companies, to name a few, find that their customers reach out across myriad platforms, from in-app chats to emails and phone calls.

Freshworks is tapping this need for an AI engine that can gather real-time behavioural data while it works across multiple communication channels. Its own ‘omnibot’ is finding increased adoption across businesses.

The company, which develops software products in Chennai, figures among a crop of niche players competing with market leaders in the global customer relationship management market such as Salesforce, Zendesk, Microsoft and others.

Whereas, backed by Accel, CapitalG, Tiger Global Management and Sequoia Capital India, Freshworks crossed $100 million in annual recurring revenue last year. Declining to reveal figures for the last fiscal.

“Being a VC-funded company, IPO is one of the primary options that we will be considering going forward at Freshworks,” he further said.

On other other hand, Agile CRM, Capillary Technologies, BuildaBazaar, Chargebee, Hotellogix, HackerRank, Plivo, etc are some of the known SaaS-based startups in India.

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