Steadview Capital, an asset management company headquartered in Hong Kong, has invested up to $ 85 million in the secondary trade of Freshworks, a client application software maker based in California and Chennai, according to a report by The Economic Times.
The report added that as a result of the deal announced in January, some early angel investors had left Freshworks.
A statutory application issued a few weeks ago stated that Freshworks had raised as much as $ 250 million in new funding from three undisclosed investors. It is not clear whether the current transaction is part of this.
“Your request concerns H-Series funding, which closed in November 2019. As stated in our announcement like that, the primary investment was $ 150 million. There were also some secondary transactions made by some of our previous investors. Due to the terms of confidentiality, we cannot go into more detail, ”said a Freshworks spokesman.
Freshworks made headlines late last year as it raised $ 150 million in its Series H round with a post-cash value of $ 3.5 billion. The round was then led by existing investors Sequoia Capital, CapitalG and Accel to accelerate investment in the company’s integrated SaaS platform.
Founded in 2010, Freshworks enables small and medium-sized businesses to support customers through email, phone, website and social networks. A significant portion of the company’s revenue comes from small businesses in the United States.
In addition to India, Freshworks has offices in the UK, Germany and Australia and counts NHS, Honda, Rightmove, Hugo Boss and Citizens Advice among its clients.
The company ‘s products include Freshdesk, Freshservice, Freshsales, Freshcaller, Freshteam, Freshchat and Freshmarketer. Freshworks has also acquired at least 10 companies since 2015.
Freshworks ’latest acquisition is Flint, an Indian IT organization and cloud management platform. Prior to that, it acquired Natero Inc. and AnsweriQ Inc.