Freshworks Names Murali Swaminathan As CTO

Freshworks Names Former ServiceNow Executive Murali Swaminathan As CTO

SUMMARY

Freshworks appoints Murali Swaminathan, a former ServiceNow executive, as its new CTO to lead global engineering and architecture teams.

This hiring comes amid recent leadership changes, including CEO Girish Mathrubootham stepping down to become executive chairman in May 2024.

Despite leadership transitions, Freshworks reports strong financial growth, with a 19% year-over-year revenue increase to $145.1 Mn in Q2 2024 and aims for $1 Bn revenue by 2026.

NASDAQ-listed SaaS startup Freshworks has roped in Murali Swaminathan as its chief technology officer (CTO).

In his new role, Swaminathan will lead Freshworks’ global engineering and architecture teams, overseeing its technology roadmap and strategy, the company said in a statement.

“Swaminathan’s experience aligns exceptionally well with our commitment to deliver products that provide rapid impact and real returns on AI investment,” said Freshworks’ chief executive and president Dennis Woodside.

“Our talented global engineering and architecture teams are pivotal to meeting this goal and I look forward to working with them to continue driving innovation and delivering exceptional products that meet the evolving needs of our customers,” Swaminathan said.

Previously, Swaminathan held leadership roles at several global technology companies, including ServiceNow, Recommind (now OpenText) and CA Technologies (now part of Broadcom Inc).

At ServiceNow, he served as vice president of engineering, overseeing the company’s IT service management and strategic portfolio management products.

Founded in 2010 by Girish Mathrubootham and Shanmugam Krishnasamy, Freshworks offers a suite of software for customer service and support, customer engagement and IT service management. The company went public on the NASDAQ in September 2021, raising $1.03 Bn in its initial public offering.

Freshworks, which serves more than 68,000 customers globally, including American Express, Bridgestone, and Sony, is aiming to achieve a revenue target of $1 Bn by 2026.

This appointment comes amid a series of leadership changes at Freshworks. In May, chief executive Girish Mathrubootham stepped down to become executive chairman, with Dennis Woodside taking over as CEO. Last month saw the resignation of chief product officer (CPO) Srinivasagopalan Ramamurthy.

Despite these moves, Freshworks has maintained strong financial performance. In Q2 2024, the company reported a 19% year-over-year increase in revenue to $145.1 Mn. The number of customers contributing more than $5,000 in annual recurring revenue grew 17% year-over-year to 19,105.