Freshworks Inc today announced it surpassed $300 million in annual revenue run rate (ARR), growing the business by 40 per cent year-on-year.
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, said the company.
“Like everyone, our 2020 plan went out the window when the pandemic hit, but our hard-working team persevered,” said Girish Mathrubootham, Freshworks founder and CEO.
During 2020, Freshworks also innovated on products, scaled its executive bench and accumulated an impressive list of achievements.
Freshworks closed two acquisitions in 2020. The company acquired AnsweriQ, a provider of ML and AI for larger enterprises. AnsweriQ complements Freshworks’ AI engine, Freddy, by enabling enterprise organizations to use existing customer data to scale self-service experiences and automate complex customer workflows.
The company also acquired Flint, a leading IT orchestration and cloud management platform, to bolster its IT service management (ITSM) and IT operations management (ITOM) capabilities. This acquisition provides greater visibility for IT teams to better manage hybrid infrastructure, optimise spend and automate employee workflows, the company said.