Freshworks (FRSH) to Raise $855 Million in IPO

Freshworks (FRSH) is planning to raise $855 million in an IPO on Wednesday, September 22nd, IPO Scoop reports. The company will be issuing 28,500,000 shares at $28.00-$32.00 per share.

In the last year, Freshworks generated $308.1 million in revenue and had a net loss of $1.9 million. The company has a market-cap of $8.3 billion.

Morgan Stanley, J.P. Morgan, BofA Securities, Jefferies and Barclays acted as the underwriters for the IPO and Baird, Canaccord Genuity, JMP Securities, Needham, Nomura, Oppenheimer, Piper Sandler, Raymond James, Amerivet Securities, Castleoak Securities, Ramirez and R. Seelaus were co-managers.

Freshworks provided the following description of their company for its IPO: “Our mission is to make it fast and easy for businesses to delight their customers and employees. We provide businesses of all sizes with modern SaaS products that are designed with the user in mind. We started with Freshdesk, our customer experience (CX) product, and later expanded our offering to include Freshservice, our IT service management (ITSM) product. We then expanded our product offering to include a more complete customer relationship management (CRM) solution, which includes sales force and marketing automation. Finally, business users can have the power of modern SaaS technology with the ease of use of the most widely used consumer internet services. As of June 30, 2021, approximately 52,500 businesses used our software to delight their customers and employees. “.

Freshworks was founded in 2010 and has 4141 employees. The company is located at 2950 S. Delaware Street, Suite 201 San Mateo, CA 94403, US and can be reached via phone at (650) 513-0514 or on the web at IPO Market Benchmark (IPOUSA) 5d.

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