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SaaS startup Freshworks eyes to raise fresh funding round ahead of IPO

IPO

Ahead of its plans for a public listing, Freshworks, a SaaS-based unicorn, is reportedly, aiming to raise a fresh round of funding, cited Inc42.

According to the sources, Freshworks is in talks with existing investors like Sequoia Capital India and Tiger Global Management as well as new investors, including mutual funds to lead a fresh funding round.

Even though the discussions are said to be in the early stages, the company Freshworks is reportedly looking at a valuation of $2.5 billion-$3 billion.

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.

Freshworks claimed that the company has 35,000 paying customers and its billings in the April-June quarter have increased by 69 per cent.

Furthermore, startups such as Agile CRMCapillary TechnologiesBuildaBazaarChargebeeHotellogixHackerRankPlivo, etc are some of the known SaaS-based startups in India.

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