Freshworks Inc., the customer engagement software company, has announced that it has signed a definitive agreements for a $150 million series H round of funding. The round was led by existing investors Sequoia Capital, CapitalG, and Freshworks’ first investor, Accel.
The company said in a statement that it has raised funds at a post-financing valuation of $3.5 billion. The financing is expected to close by year-end and is subject to customary closing conditions, including U.S. antitrust regulatory clearance.
The funds raised will be used to further Freshworks’ worldwide expansion as well as accelerate investment in its integrated SaaS platform.
“Since Freshworks’ founding, we have been at the forefront of democratizing software for the entire organization – and we’re continuing that tradition by using the most advanced cloud technologies to ensure that software delivers for the entire organization and puts the ‘customer’ back into CRM,” Girish Mathrubootham, Freshworks CEO and founder said.
As part of this effort, Freshworks also announced its Customer-for-Life Cloud, which establishes a common data platform across all of the company’s customer engagement products to unify important customer information from marketing, sales, support and customer success to enhance the never-ending customer journey.
“The CRM landscape is littered with solutions that are high on hype and low on results. Freshworks is unique in delivering software that works for end users across the organization, whether in marketing, sales, support or customer success. There’s a reason Sequoia’s teams across India and the US have each independently decided to double down on Freshworks as it expands its footprint from India to global markets. The opportunity has never been greater to align an entire organization and create a unified customer experience that better understands and meets their ever-changing needs,” Mohit Bhatnagar, Managing Director, Sequoia Capital India LLP said in a statement.
“The Customer-for-Life Cloud enables businesses to sharpen their customer understanding to better predict and enable success, displacing dismal legacy SaaS solutions that have over-promised and underdelivered with eye-popping regularity,” Girish added.