The cloud-based customer service startup, FreshDesk has raised $50 Mn in Series E round of funding led by Tiger Global with Accel Partners and Google Capital also participating. The new round of funding brings its total investment to $94 Mn.
The funding will be utilized to accelerate its products and scale to meet the growing market demand. Besides, Freshdesk also hopes to woo more large-scale clients through international strength, with the European and Australian offices joining its headquarters in San Francisco and original founding location of Chennai.
Speaking on this development, Girish Mathrubootham, Founder, FreshDesk said, “This investment will help us continue to evolve our products and scale our business to meet demand from customers around the world. We are excited about the shared commitment that our investors have in Freshdesk and our vision.”
Launched in 2010, Freshdesk’s cloud-based customer support software enables companies of all sizes to support customers through email, phone calls, websites, forums and social media channels. The company is headquartered in San Francisco, California and has a development center in Chennai, India. Earlier in June last year, it had raised $31 Mn in exchange for an undisclosed amount of equity.
Despite competition from Zendesk, Desk.com, and others, Freshdesk has built up an enormous customer base over the past 5 years. It has over 40,000 customers around the world, including 3M, Honda, University of Pennsylvania, and Hugo Boss.
“We know we need to scale our business faster and invest in our product. We want capital so that it’s something we don’t even think about,” said Freshdesk President Dilawar Syed.
The company believes that it is set up to grow faster as compare to its competitors. It has grown bookings more than 3x (300%) in the last several years. “The opportunity in this space overall is continuing to expand. And we’ve done it by focusing on product, then hiring, and really managed our marketing spend,” Syed added. Earlier in last year, the startup had launched a new service IT software that takes the same approach Freshdesk uses for customer service to IT support, called Freshservice.