Customer relationship management platform Freshworks filed IPO paperwork last week for an offering worth around $100m. CEO Girish Mathrubootham indicated that a SPAC merger, direct listing, and more private funding were also on the table. Its shares will be listed on the Nasdaq under the ticker symbol FRSH.
Freshworks was started in India but later moved to Silicon Valley to be closer to customers. The startup has hit its stride and is on a strong financial trajectory, with revenues growing from $110m in the first half of 2020 to $169m in the first half of this year. Freshworks has also decreased its net losses significantly, shrinking from $57m last year to $9.8m this year.
why it matters
Freshworks' ultimate goal is to offer its customers a unified cloud service, and funding from an IPO can help it achieve just that.