Freshworks Inc recently announced that they crossed $300M in Annual Recurring Revenue (ARR) scaling the business by 40% year over year even when there was a global pandemic crisis. ARR is a key metric used by SaaS businesses which have term subscription agreements or defined contract lengths. Freshworks is an intelligent customer engagement software company which launched new products in 2020, made strategic acquisitions in AI and expanded its executive team to drive the growth perspectives of the company. It is now moving towards the billion-dollar revenue milestone.
Freshworks SaaS products are easy to use and offer speedy returns on investment. Operating from 13 global locations, the California headquartered, Freshworks serves customers across the world. With the mission to help companies across the globe survive the COVID crisis and help them tread over unknown waters without facing losses, Freshwaters acted as a lifeboat for hundreds of firms and helped to create the best for their clients and their customers.
Freshwaters aims to create a one app platform so that companies do not have to work in silos. This helps achieve better alignment between the sales and marketing teams within the firms and makes it a smoother experience for your customers Freshworks CRM (formerly Freshsales). They have adaptive, advanced AI capabilities; Freddy AI’s powerful automation capabilities help comprehend customers and provide insights, predictions, recommendations from your CRM data thus resulting in better decision-making processes. Freshworks also help engage better with customers through best leads and personalized and behavioural based conversations.
Successfully closing two acquisitions in 2020, Freshworks acquired AnsweriQ, a provider of ML and AI for larger enterprises which complements Freshworks existing AI engine, Freddy. Together they help companies to scale self-service experiences and automate complex customer workflows using existing customer data. They also acquired Flint, an IT orchestration and cloud management platform to improve their IT service management operations management capabilities. This helps them manage hybrid infrastructure and automate employee workflow while spending optimally.
Forbes Cloud 100 named Freshworks the #16 top privately-held SaaS companies while Glassdoor and Battery Ventures named them in the top-25 private cloud companies to work for during the COVID-19 pandemic. Freshworks was named a Strong Performer the Forrester New Wave: Chatbots For IT Operations, Q4 2020.
With Freshworks CRM, a single solution with unique capabilities that delivers personalized conversations and unifies the customer journey, Freshworks has an immense potential for further growth as they work on new acquisitions, better team and updated technology. They aim to reimagine the customer data platform so as to improve lead conversion and sales growth for their clients across the globe.