Freshworks Hits $100m in Annual Recurring Revenue

June 28, 2018
Freshworks Hits $100m in Annual Recurring Revenue

By Dipo Olowookere

Global leader in customer engagement software, Freshworks, has announced reaching a revenue milestone by crossing $100 million in annual recurring revenue, led by its flagship support product Freshdesk (Customer Support Software) and continued rapid growth with its Freshservice (IT Service Management Software) and Freshsales (CRM Software) products over the last several quarters.

This achievement was fuelled by Freshworks’ ever-expanding user-base of more than 150,000 businesses and organizations world-wide, including both larger enterprises such as Honda, Bridgestone, Hugo Boss, University of Pennsylvania, Toshiba, Cisco, Veeva, OfficeMax, M&C Saatchi and thousands of global SMB customers.

Over the past year, the company has also expanded its portfolio of products to include Freshchat, Freshcaller, Freshmarketer and Freshteam, a set of products designed to work together to help marketers, human resources and support professionals engage with customers and work together more effectively.

On the heels of this milestone, Freshworks also announced the immediate availability of Freshworks 360, a fully integrated cloud bundle that brings together sales, marketing, and support applications to provide users with a full, easy-to-use customer engagement experience. Products contained within Freshworks 360 include Freshdesk, Freshsales, Freshmarketer, Freshcaller (call center software) and Freshchat (customer messaging software), providing an easy way for users to access the entire history of customer conversations, data and marketing touchpoints such as chats and social media mentions. Current users of any Freshworks application can now access free trials of all the platform’s offerings from their existing Freshworks login using the Freshworks Switcher.

“For too long, small business and many enterprises have been left out in the cold when it when it comes to customer engagement software,” said Girish Mathrubootham, co-founder and CEO of Freshworks. “Sales, marketing and customer support professionals have been forced to use bloated, siloed CRM and support systems, while HR and IT have been beholden to bulky products with unnecessary features and exorbitant price tags. While we are thrilled to announce this new revenue milestone, we are on a mission to put easy-to-use business software in the hands of the people who need it and Freshworks 360 is a major step in helping us do exactly that.”

“The Freshworks 360 platform allows us to serve customers more quickly and is far easier to use than the traditional CRM systems we’ve used in the past,” Brian Engles, Director of Partnerships at Facilitron. “Products like Freshdesk and Freshchat have helped our SLA achievement and customer satisfaction scores jump over 20% since we began using them and put Freshworks 360 at the heart of our customer engagement strategy.”

“Forward-thinking vendors in the CRM space like Freshworks aim to support organizations strategically moving to cloud-based operations. Businesses no longer build solutions around single business functions like support, sales or marketing, but rather focus on excellent end-to-end experiences for their customers” says analyst Esteban Kolsky of ThinkJar, an advisory and think-tank focused on Customer Strategies. “These vendors are helping build the right platform-based solutions to generate engagement with their customers while optimizing operations.”

Dipo Olowookere

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

Mr Olowookere can be reached via [email protected]

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