Aug 27 (Reuters) – Enterprise and buyer engagement software program firm Freshworks Inc on Friday made public its submitting for an preliminary public providing in the USA, reporting a virtually 53% surge in income as extra prospects signed up for its companies.
The Salesforce.com Inc (CRM.N) rival revealed it had earned $168.9 million in income for the six months ended June 30 this 12 months in a regulatory submitting, up from $110.5 million in the identical interval final 12 months.
Web loss got here in at $9.8 million for a similar interval, down almost 83% from a 12 months earlier.
Freshworks has not but set the phrases for its providing, however Reuters reported in April it might goal for a valuation of as much as $10 billion. read more
San Mateo, California-based Freshworks joins a wave of listings from the software program and know-how sector, most of which have been welcomed by buyers who see room for development even after the pandemic, as extra corporations embracing hybrid work drive up demand for such merchandise.
Launched in 2010 as Freshdesk from the Indian metropolis of Chennai by Girish Mathrubootham and Shan Krishnasamy, Freshworks raised its first spherical of funds in 2011, the identical 12 months it bagged its first buyer – the Atwell School in Australia.
Backed by buyers together with Sequoia Capital and Tiger World Administration, Freshworks has a set of merchandise that assist enterprise with buyer administration, like a messaging platform, an artificial-intelligence powered chatbot for buyer help and name heart options that promise shorter wait instances.
It additionally permits for automation of routine, repetitive duties and managing of varied HR capabilities like hiring, onboarding and monitoring worker information.
Freshworks stated its know-how is utilized by greater than 50,000 corporations, together with Supply Hero SE (DHER.DE), Swedish funds agency Klarna, Cisco Methods (CSCO.O) and Common Electrical Co (GE.N).
Freshworks plans to listing on the Nasdaq below the image “FRSH”. Morgan Stanley, J.P. Morgan and BofA Securities are the lead underwriters for the providing.
(This story refiles to repair typo in headline, no change to textual content)
Reporting by Juby Babu and Sohini Podder in Bengaluru; Enhancing by Michael Perry
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