After just 10 years in business, Freshworks has achieved $300 million in annual recurring revenue, including unprecedented growth of 40% in the last year.
2020 featured new products, strategic acquisitions and new additions to the executive team in order to reach the next goal: the billion-dollar revenue milestone.
The new faces to the Freshworks executive team include Tyler Sloat, chief financial officer; Pradeep Pathinam, chief customer officer; Prakash Ramamurthy, chief product officer; and Jose Morales, chief revenue officer.
“Like everyone, our 2020 plan went out the window when the pandemic hit, but our hard-working team persevered,” said Girish Mathrubootham, Freshworks founder and CEO.
“Our mission is to create customers for life and during this past year, this goal was put to the test. Our team rose to the challenge and rallied around our customers to help them navigate unknown waters and empower their employees to respond to increasing customer demands.”
The main new product offering is Freshworks CRM, a solution that streamlines the customer journey in sales and marketing, helping to boost engagement, drive deals to closure and nurture existing clients.
The Freshworks CRM solution is built on Freshworks Neo, a new and fundamental reimagining of the platform experience, which aggregates data on an embedded customer data platform for personalised customer engagement, improved lead conversion and sales growth.
Neo eliminates the reliance on unwieldy tools and complex multi-stack point solutions that result in data silos that limit artificial intelligence (AI) and machine learning’s (ML) usefulness. With Neo, businesses can quickly and easily craft and extend custom environments via simple clicks to better serve their customers and prospects.
2020 also saw Freshworks make two new company acquisitions: AnsweriQ and Flint. AnsweriQ works alongside Freshworks’ AI engine, Freddy, to enhance the customer experience and free up agent time. Freddy can now anticipate customer needs, make recommendations via the chatbot and perform tasks such as refunds and cancellations.
Flint is a leading IT orchestration and cloud management platform, bolstering Freshworks’ IT service management and operations management systems.