Customer engagement software developer Freshworks has pushed its valuation to $3.5bn following a $150m series H round co-led by long-time investor CapitalG.
US-based customer relationship management (CRM) software provider Freshworks secured $150m in a series H round yesterday co-led by CapitalG, the growth equity arm of technology conglomerate Alphabet.
Sequoia Capital and Accel co-led the series H round, which valued Freshworks at $3.5bn post-money. The round remains subject to customary closing conditions, including US antitrust regulatory clearance, and is expected to close by the end of the year.
Founded in 2010 as Freshdesk, Freshworks has created CRM software for sales, marketing and customer support teams to collaborate with each other to solve issues and to communicate with customers.
The capital will allow Freshworks to accelerate investment in its platform and to drive international expansion efforts.
Freshworks has now collected a total of $400m in equity financing. CapitalG contributed to a $100m series G round in August 2018 that was co-led by Sequoia and Accel.
CapitalG had already supported a $50m series E round in 2015 together with Accel and Tiger Global Management, the same three investors who had supplied $31m in series D funding the previous year.
