Freshdesk Sees Phenomenal Growth; Nets Another $50M Investment
Freshdesk is gaining traction among enterprises of all sizes with its cloud based customer service offering. Freshdesk’s homepages promises “Customer happiness, refreshingly easy” with its SaaS based customer support management suite.
Freshdesk’s latest round of investments was led by Tiger Global and Accel Partners. Sources also indicate that Google Capital was involved in the deal. The $50M injection brings total funding for Freshdesk just north of $95M. Freshdesk’s last investment was in June 2014, when the upstart customer service suite was able to get $31M in investments.
Freshdesk is rapidly gaining momentum within the customer service SaaS arena. The company mentions that it has gained over 40,000 customers total since its inception, with many of them coming within the past year. Freshdesk indicates that they require the additional funding to help continue their meteoric growth.
Freshdesk has increased its client base by 900% over the past two years. Going from 4,000 clients to 40,000 clients has required Freshdesk to more than double its team. Freshdesk mentions that they currently have 350 employees.
Freshdesk indicates that they plan on using the money to continue product development. Unlike other startups who focus on using investment for marketing and sales, Freshdesk says that they focus on selling their product to SMBs by mainly relying on word of mouth, social media and online reviews. Freshdesk has declined to publically disclose that valuation of its company.
Dilawar Syed, President of Freshdesk, is quoted in Forbes as saying, “We know we need to scale our business faster and invest in our product.” Syed continues, “We want capital so that it’s something we don’t even think about.”
Freshdesk has the ability to integrate into any environment and the product is sold using the freemium model. Organizations can try Freshdesk for free and add additional functionalities as they grow and mature. Freshdesk says that some of its biggest clients are Honda, 3M and Hugo Boss.
