Freshworks Inc., a cloud-based business software firm, has the scale and the numbers to go for an initial public offering, according to its Chief Executive Officer Girish Mathrubootham.
“We want to make sure we’re getting the processes ready and don’t want to rush into it,” Mathrubootham, who heads one of India’s largest startups, told BloombergQuint in an interview. He said they have enough capital and can take their time to go public but declined to give a timeline.
Freshworks, known as Freshdesk until last year, joined the unicorn club in July after it raised $100 million in a round led by existing investors Accel Partners and Sequoia Capital.
It hired Suresh Seshadri-who helped prepare AppDynamics for an IPO, which was later acquired by Cisco Systems for about $3.7 billion-as its chief financial officer early this year.
Founded in October 2010, the company has grown from one customer service software product to a firm generating over $100 million in annual recurring revenue. Source Bloomberg Quint
