Freshworks doubles its revenue rate in 18 months
Chennai: The SaaS-based Freshworks customer engagement platform announced Monday that it has reached a recurring annual revenue of $ 200 million, doubling it in 18 months since crossing the $ 100 million mark. He also said he has appointed Tyler Sloat as his new chief financial officer (CFO). Sloat, who worked at California-based payments company Zuora, led the company through his IPO and would also lead the Freshworks trip.
He is replacing Suresh Seshadri, who had to resign due to personal reasons.
Sloat is responsible for maintaining sustainable growth across all of its customer segments, overseeing all accounting, financial, legal and IT functions.
“The company has a unique position with a suite of affordable commercial products that offer exceptional value. We are seeing increased demand for products that better automate customer service and IT services while helping teams work better remotely during this critical time, said Tyler Sloat, CFO, Freshworks.
As we emerge from this new era, Freshworks will come together in support of companies to help them navigate customers' changing expectations and behaviors, said Girish Mathrubootham, founder and CEO of Freshworks. The company has not fired any of its employees or announced a pay cut for them so far.
Like many companies, we are committed to not laying off employees. At Freshworks, we have also adopted a policy of no one left behind to ensure that our janitorial staff and other hourly workers who support us continue to be paid, Mathrubhootham added.