Freshworks launches full-stack CRM programme for startups

Software as a service firm Freshworks Inc, which made its public debut on US-based Nasdaq earlier in September, on Wednesday launched a full stack customer relationship management (CRM) programme, Freshstack, for startups.

Girish Mathrubootham, founder, Freshworks, said it will start by providing $3000 of free credits to startups under the Freshstack programme.

“Our question to startups is very simple: If you are building the future, why should you have CRM systems of the past and have a silos of sales, marketing and customer support?” he said at a virtual press conference.

Startups from across the globe and any sectors can apply to be part of the Freshstack programme.

Mathrubootham said that the launch of Freshworks stemmed from the fact that the company was also a startup once and wants to help new startups and grow with them.

Earlier in July, Mathrubootham and Eka Software founder Manav Garg launched a $85 million venture capital fund — Together Fund — to back early-stage enterprise software startups.

Mathrubootham said a handful of investments have already been made in startups from the fund and the announcement is expected to be made soon by the investee companies.

Freshworks made its public debut on US-based Nasdaq in September after it raised over $1.03 billion as a part of the listing.

The listing made Freshworks the most valuable SaaS startup from India, post-listing, zooming past the likes of application program interface (API) development platform, Postman, which recently was valued at $5.6 billion and mobile application testing platform, BrowserStack valued at $4 billion this year.

The listing of Freshworks, which was last valued at $3.5 billion in November 2019, heralded a new era for Indian startups which are looking to list in the US exchanges. Payments service provider Pine Labs, e-commerce behemoth, Walmart-owned Flipkart as well as mobile advertising major, InMobi, are some of the names which are looking to make their way to the US-exchanges in the coming months.

Earlier this month, the company reported its third quarter revenue at $96.6 million, a growth of 46% compared to the third quarter of 2020. However, it said its loss from operations was $140.3 million for the same period.

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