Freshworks Completes $1.1 Billion IPO
Freshworks Inc. (“Freshworks” or the “Company”) (NASDAQ: FRSH) recently completed an initial public offering of 31,350,000 shares of Class A common stock, including the exercise in full of the underwriters’ overallotment option, at a price of $36.00 per share, generating gross proceeds of approximately $1.128 billion. The Company intends to use the net proceeds from the offering for general corporate purposes, including working capital, operating expenses, and capital expenditures.
Baird served as a co-manager on this offering.
AboutFreshworks provides businesses with modern SaaS products that are designed with the user in mind. The Company’s first product was Freshdesk, a customer experience product, and the Company later expanded its offering to include Freshservice, an IT service management product. Freshworks then expanded its product offering to include a more complete customer relationship management solution, which includes salesforce and marketing automation. Freshworks allows business users to have the power of modern SaaS technology with the ease of use of the most widely available consumer internet services. Freshworks was incorporated in Delaware in 2010 and is headquartered in San Mateo, California, and has foreign subsidiaries located in India, Australia, the United Kingdom, Ireland, Germany, France, the Netherlands, and Singapore.
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- October 2021
- Freshworks Inc.
- Equity Capital Markets
- Technology & Services
- Target Location
- North America
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