SUMMARY
Karthik Rajaram quit the SaaS major in March this year after a seven-year long stint
In the past one year, Freshworks has seen a wave of exits, including that of CRO Pradeep Rathinam who resigned last month
The Nasdaq-listed startup narrowed its net loss 49% YoY to $28.1 Mn in Q4 2023 while revenue jumped 20% to $160.1 Mn
Nasdaq-listed SaaS giant freshworks
’ India head Karthik Rajaram has quit the SaaS startup to join software company Elastic. He will join the new company as its India general manager and area vice-president.
“I’m happy to share that I’m starting a new position as Area Vice President & General Manager, India at Elastic!” said Rajaram in a post on LinkedIn on Tuesday (April 2).
The development was first reported by Moneycontrol.
Rajaram quit the SaaS major in March this year after a seven-year long stint. An alumni of SP Jain Institute of Management & Research, Rajaram previously also served at companies such as Microsoft, Akamai, and Salesforce.
With this, he has become the latest senior executive at the company to put in the papers.
In the past one year, Freshworks has seen a wave of exits and appointments. Last month, the SaaS major’s chief revenue officer Pradeep Rathinam resigned, while the company’s cofounder and chief technology officer (CTO) Shan Krishnaswamy bid adieu to the company in 2022 after a company-wide rejig.
Meanwhile, it recently roped in ex-Adobe executive Mika Yamamoto as its first chief customer and marketing officer (CCMO) and also appointed Johanna Jackman as the new Chief People Officer (CPO).
Amid all this, Freshworks continues to narrow its losses while shoring up revenues. The Nasdaq-listed company narrowed its net loss 49% year-on-year (YoY) to $28.1 Mn in the fourth quarter (Q4) of 2023. Meanwhile, revenue jumped to $160.1 Mn for the quarter, up 20% from $133.2 Mn in Q4 2022.
The company attributed the strong performance to rapid deployment of AI innovations in its products and ensuring swift delivery of services to customers. Freshworks has set its eyes on achieving a revenue target of $1 Bn by the year 2026.
Founded in 2010 by Girish Mathrubootham and Shanmugam (Shan) Krishnasamy, Freshworks offers a suite of software for customer service and support, customer engagement and IT service management. The company went public in 2021.
Freshworks’ stock was last trading at $17.8 at 2:38 PM GMT on Nasdaq on April 2.
