Freshdesk Raises $31M Series D Funding From Google, Tiger & Accel
Freshdesk just became the first (and only) Indian company to get backed by Google Capital. In a new round of funding led by existing investors such as Tiger Global and Accel Partners, Freshdesk’s global expansion plans have received a major shot in the arm. The Series D funding is in the tune of $31 million, taking the startup’s total funding to a whopping $44 million.
Freshdesk’s Funding Details
|First Round||Accel Partners||Dec 2011||USD 1 Million|
|Second Round||Tiger Global, Accel Partners||April 2012||USD 5 Million|
|Third Round||Tiger Global, Accel Partners||Nov 2013||USD 7 Million|
|Fourth Round||Tiger Global, Accel Partners, Google Capital||June 2014||USD 31 Million|
|Total||USD 44 Million|
Since 2011, Freshdesk has been growing at a phenomenal rate with over 23,000 customers within a span of 3 years. Most recently, the company launched Freshservice, an ITIL service desk in January. Rapid expansion is only a part of the story; Freshdesk follows a “hybrid model” wherein almost all the development work is done by its 250 or so employees in India. This number was just half only a year ago.
FreshDesk’s client list boasts of some big names such as QuizUp, Hugo Boss, Petronas, Honda, Sony Pictures, The Atlantic and 3M. SaaS (software as a service) companies have been picking up steam, but Freshdesk might actually stand out to be a $1 billion enterprise made of Indian soil.
A new office has been set up in San Francisco. The company hopes to rapidly boost its sales effort in the region by taking such measures. Freshdesk is now being compared to the likes of Zendesk and Desk, both big names in this field.
“With a world-class product and team, Freshdesk has been on a strong growth trajectory. We are very excited to back them as they continue to scale big and ramp-up their global presence.” said Shekhar Kirani, Partner at Accel Partners in regards to the funding.