US-based customer relationship software provider Freshworks received $100m in financing on Tuesday from investors including CapitalG, internet and technology conglomerate Alphabet’s growth equity arm.
The round was co-led by venture capital firms Sequoia Capital and Accel and it valued Freshworks at $1.5bn, the company told VentureBeat.
Founded in India in 2010 and formerly known as Freshdesk, Freshworks produces software intended to make it easier for sales, marketing and customer service staff to communicate with customers and collaborate with each other to solve customers’ problems.
The company’s platform is used by more than 150,000 businesses and the capital will fund international growth and the further development of the software.
The round was announced alongside the appointment of Suresh Seshadri, formerly vice-president of finance and treasury for IT performance analytics provider AppDynamics, as Freshworks’ chief financial officer.
Freshworks has now received a total of $250m in funding including a $55m series F round in late 2016 that was led by Sequoia Capital India with participation from Accel.
CapitalG, then known as Google Capital, had initially joined existing backers Accel and Tiger Global Management for Freshworks’ $31m series D round in 2014, before the same three investors provided $50m of series E funding the following year.