Freshworks Inc. Files for U.S Initial Public Offering

Provider of software as a service platform enabling small and medium-sized businesses to support customers via email, phone and websites Freshworks Inc. has filed for its United States initial public offering.

According to the regulatory filing, the company recorded almost 53% increase in revenue as the number of new customers signing up for its services surged in the first half of the year ended June30.

For the six month period, Freshworks generated revenue amounting to $168.9 million signifying a significant increment compared to the $110.5 million the company registered at a similar period last year.

Also in the same period, net losses for the company amounted to $9.8 million signifying a decrease of almost 83% from the first half of 2020.

The company is yet to disclose its set terms for this IPO however several months ago, some unofficial sources revealed that the company is aiming for a $10 billion market valuation after the offering.

The company is looking forward to get listed on Nasdaq under the ticker symbol ‘FRSH’.

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