Freshworks (formerly Freshdesk) Strengths, Domain Expertise, and Key Differentiators
Freshworks provides organizations of all sizes with SaaS customer engagement solutions that make it easy for support, sales, and marketing professionals to communicate effectively with customers for better service and collaborate with team members to resolve customer issues. The company's products include Freshdesk, Freshservice, Freshsales, Freshcaller, Freshteam, Freshchat, and Freshmarketer.
Freshworks (formerly Freshdesk) Recent Developments
In November 2021, Freshworks launched Freshstack -- a customer relationship management (CRM) suite built for the unique needs of startups that unifies customer support, sales, and marketing teams. The product bundle helps startups personalize marketing to generate pipeline, deliver effortless omnichannel service and grow faster, at an affordable price point that's easy to deploy and manage.
In October 2020, Freshworks unveiled Freshworks CRM, uniting sales and marketing teams with out-of-the-box capabilities for an unsurpassed and unified 360-degree view of the customer to deliver better experiences and more profitable outcomes. The Freshworks CRM solution is built on Freshworks Neo, a new and fundamental reimagining of the platform experience, which unifies data on an embedded customer data platform for personalized customer engagement, improved lead conversion, and sales growth.
In June 2020, Tata Consultancy Services, the global IT services, consulting, and business solutions organization, to jointly build and market new-age marketing, sales, support, customer success, and ITSM solutions on top of Freshworks cloud software to elevate end-user and employee experiences. The customer engagement software company said TCS brings deep customer relationships, multiple-domain expertise, and modern thinking in providing a digital transformation experience for businesses while Freshworks brings a strong suite of products that help businesses realize accelerated ROI by providing a cohesive experience to unify their marketing, sales and support functions.
In February 2020, Freshworks launched Freshsuccess, becoming the first CRM vendor to natively integrate customer success software into its portfolio for complete customer engagement from the first touch to the latest inquiry. With Freshsuccess, organizations will be able to improve customer results, prevent churn and identify sales opportunities.
In September 2018, Freshworks launched the appointment of veteran Software as a Service (SaaS) executive David Thompson as CMO. As one of his first initiatives, Thompson has launched an aggressive brand advertising campaign that positions Freshworks as the smart, friendly alternative in a bloated SaaS market.
In September 2018, Freshworks launched a unified marketplace platform that allows companies and developers to easily build apps that give access to a 360-degree view of customer information. In addition, the marketplace platform also provides a simple interface for customers to easily browse, try and install trusted applications with one click. Now companies can fully harness the strength of platform features such as serverless computing and scheduled events to help them quickly build and integrate apps with the Freshworks suite and extend the capabilities of Freshworks products.
Freshworks (formerly Freshdesk) Mergers and acquisitions (M&A) Activities
In July 2020, Freshdesk acquired Flint, an IT orchestration and cloud management platform, to bolster Freshservice’s IT service management (ITSM) and IT operations management (ITOM) capabilities. The acquisition is Freshworks’ third in the past year, including Natero Inc. and AnsweriQ Inc. The customer engagement software company said this acquisition would provide greater visibility for IT teams to better manage hybrid infrastructure, optimize spend and automate employee workflows.
In February 2020, Freshworks acquired AnsweriQ, a startup that provides AI tools for self-service solutions and agent-assisted use cases where the ultimate goal is to quickly provide customers with answers and make agents more efficient.
In May 2019, Freshworks acquired Natero. With Natero's AI/ML-powered technology, the Freshworks platform puts actionable data in the hands of customer success professionals. This helps companies more easily predict and prevent customer churn, increase account expansion and manage more customers with fewer resources.
Freshworks (formerly Freshdesk) Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Freshworks (formerly Freshdesk) applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Freshworks (formerly Freshdesk) and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified FreshDesk (Customer Support), FreshService (ITSM), FreshSales (Sales CRM), FreshCaller (Call Center), FreshTeam (ATS), FreshChat (Customer Messaging), Freshrelease, FreshStatus, FreshPing, customers.
Freshworks (formerly Freshdesk) Overview
Ownership: - Accel and Sequoia
Number of Employees: 4300
Key Verticals: Aerospace and Defense, Automotive, Banking and Financial Services, Communications, Construction and Real Estate, Consumer Packaged Goods, Distribution, Education, Government, Healthcare, Insurance, Leisure and Hospitality, Life Sciences, Manufacturing, Media, Non Profit, Oil, Gas and Chemicals, Professional Services, Retail, Transportation, Utilites,
Freshworks (formerly Freshdesk) Key Cloud and HCM Applications
FreshDesk (Customer Support), FreshService (ITSM), FreshSales (Sales CRM), FreshCaller (Call Center), FreshTeam (ATS), FreshChat (Customer Messaging), Freshrelease, FreshStatus, FreshPing,
Freshworks (formerly Freshdesk) HCM and Cloud HCM Applications Revenues, $M:
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* HCM Applications Revenues = License + Support & Maintenance + SaaS ( Hardware and Prof. Services are Excluded )
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
Freshworks (formerly Freshdesk) Revenue Breakdown by Type:
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Freshworks (formerly Freshdesk) HCM Applications Revenues By Sub-Functional Markets, $M:
Split by Sub-Functional Markets
2020 HCM Revenues, By Sub-Functional Markets, $M
Freshworks (formerly Freshdesk) HCM Applications Revenues By Verticals, $M:
Freshworks (formerly Freshdesk) Total and HCM Applications Revenues by Region:
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Freshworks (formerly Freshdesk) Direct vs Indirect sales
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Freshworks (formerly Freshdesk) Customers - Breakdown by Geo, Size, Vertical and Product
No. of Freshworks (formerly Freshdesk) Customers: 52500
No. of Freshworks (formerly Freshdesk) HCM Applications Customers: x
No. of Freshworks (formerly Freshdesk) Cloud HCM Customers: x
No. of Freshworks (formerly Freshdesk) Cloud HCM Subscribers: x
The company's cloud-based suite of SaaS products is widely used by over 52,500 customers in more than 120 countries. Among its customers are Honda, Bridgestone, Hugo Boss, University of Pennsylvania, Toshiba, and Cisco, Delivery Hero. Klarna and many others.
Freshworks (formerly Freshdesk) Market Opportunities, M&A and Geo Expansions
Freshworks surpassed $300M in ARR, growing the business by 40% year over year through unprecedented economic times. Freshworks’ record year featured new product offerings, strategic acquisitions to accelerate AI, and an expanded executive team to fuel its next phase of growth: the march towards the billion-dollar revenue milestone.
In November 2019, Freshworks opened an office in Hyderabad, which is its third office in India. The Hyderabad office will function as a major product development center immediately plans to scale operations and hire over a hundred engineers.
In November 2018, Freshworks partnered with Pitney Bowes, a global technology company that provides commerce solutions in the areas of eCommerce, shipping, mailing, and data to integrate Freddy, its recently launched Omnibot Artificial Intelligence (AI) engine with the next generation SendPro C-series device. Pitney Bowes leverages Freddy, Freshworks' AI technology to empower users with more effective support through chat interactions. This will be Freddy's first hardware integration, within a month of its global launch.
In August 2018, Freshworks acquired Zarget, a leading marketing software startup that provides marketers and designers with a suite of Conversion Rate Optimization (CRO) tools helping them understand how users interact with their websites. This is the ninth acquisition made by Freshworks over the last two years and will help the company focus on building marketing solutions for businesses of all sizes.
In July 2018, Freshworks has raised $100 million in a Series G funding round at a $1.5 billion valuation, post-money, according to a spokesperson for the company. Accel Partners and Sequoia Capital led the round, which also saw participation from CapitalG, the (quite active) growth equity investment arm of tech conglomerate Alphabet. In conjunction with the capital raised across six previous rounds since the end of 2011, this financing brings Freshwork's total venture funding to $250 million.
Freshworks (formerly Freshdesk) Risks and Challenges
In November 2018, Freshworks has bolstered its top management with the appointments of Prasad Ramakrishnan as CIO and Shivanath Somanathan as CISO. The rebranding and the product awareness are work in progress, Freshworks have to devote more time to these processes.
Freshworks (formerly Freshdesk) Ecosystem, Partners, Resellers and SI
In July 2021, Pink Elephant EMEA, a global IT Service Management specialist partnered with Freshworks to delight their customers and employees. The partnership will enablePink Elephant EMEA and Freshworks to provide their IT Service Management (ITSM) know-how and deliver the intuitive consumer-grade user experience employees now expect.
In June 2020, Freshdesk partnered with SignEasy, the leading eSignature solution used by over 130,000 customers worldwide, with a new integration that digitizes the HR recruiting and onboarding process from end to end. This new integration makes remote hiring a reality for Freshteam customers: from the moment a candidate accepts a job offer, all HR-related paperwork and signatures can be managed from the Freshteam dashboard.
In June 2019, Vonage partnered with Freshworks. The partnership integrates messaging APIs via Nexmo, the Vonage API Platform directly into the Freshdesk customer support software, enabling business messaging with customers on the channels they prefer including SMS, MMS, WhatsApp, and Facebook Messenger.
In May 2019, Freshworks expanded its operations in Australia with the opening of its office in Melbourne. The Melbourne office is a result of soaring local growth, with annual recurring revenues increasing by 5X, since the inauguration of the Sydney office in September 2015.
Freshworks resellers are Soluciones Orión, 3MHZ Solutions, Cloud Ease Consulting, The Rype Group Pty Ltd, JT’s Cloud, Mage Shops, Mincko, Multiedro Serviços de TI Ltda, Loupen Tecnologia, Cloud Choice, SemiCent, Master Concept, Swedbyte, Consolida Oy, Cirruseo, Inc, Blue note systems, QMS Software Ltd, Master Concept, Redington India Limited, Searce LLP, Shivaami Corporation, Team Computers Pvt Ltd, PT Weefer Indonesia, Freshcloud Solutions, QMS Software Ltd, We Do Soft Inc, Enterprise Source Capital de México S.A de C.V., CyS Services BV, Swedbyte, i4 Asia Incorporated, InTENSO Sp.z o.o, ООО ""Сведбайт"", 4Di Technologies, Refresh Networks, CRM Partners, NexTReT S.L, Senzum AB, Mage Shops, Toworksmile, Gulf Infotech, NTS Technology Partners, Contexta Global, Klevur, Onix, and others.
Freshworks (formerly Freshdesk) Cloud Platform (PaaS) and Infrastructure (IaaS) Details
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Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
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