Freshdesk raises $50 million more from Google Capital, Tiger Global, Accel Partners

CHENNAI: Customer relationship management company Freshdesk Inc has concluded a $50-million fund-raise from its existing investors, including Google Capital, Tiger Global and Accel Partners. The company intends to use the funds to further scale up product development and enhance its expanded operations. Post this, the three investors will hold majority stake in the company.

Freshdesk, which counts 3M, Honda and Hugo Boss, among others, as its clients, did not divulge valuation for this fund-raise or the extent of investment by each of the three investors. "We will ramp up investment in R&D and scale up our operations globally," Girish Mathrubootham, founder-CEO, Freshdesk said on Monday.

The company opened its San Francisco office last September, London earlier this year and Sydney operations few weeks ago. "We are seeing good traction globally across key markets. We will now ramp up sales and marketing operations," he said.

Freshdesk is a cloud-based customer support platform and operates on software-as-a-service (SaaS) model.

Ironically, cash-rich Freshdesk was not keen to raise money now. "We were not very keen. The inbound interest was very high and we decided that we will use the current euphoria and raise cash and be ready. Valuations in this market have gone crazy," Mathrubootham said.