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Deepti Sri · · 1 min readIndian CRM startup Freshworks files for $100m US listing
“Customer relationship management software platform Freshworks has filed for an initial public offering (IPO) worth US$100 million with the US Securities and Exchange Commission (SEC),” reported Livemint.
Details:
- Funds raised from the listing will be used for general corporate purposes, including working capital needs, operating expenses, and capital expenditure.
- For the public offering, Freshworks has roped in investment banks including Morgan Stanley, J.P. Morgan, BofA Securities, Jeffries, Barclays, and others as book managers.
Dive deeper:
- The company joins a slew of Indian unicorns flocking toward public markets to capitalize on the boom in tech stocks amid the pandemic. Fintech giant Paytm, Nykaa, and PolicyBazaar have also filed their draft papers with market regulators recently. (Read: The leading Asian tech players eyeing an IPO in 2021)
- In February, Gireesh Mathrubootham, founder of Freshworks, set up a fund that will invest in early-stage startups in the business-to-business enterprise software and software-as-a-service space. The fund was created with support from Manav Garg, founder of Eka Software Solutions.
Editing by Collin Furtado and Arpit Nayak
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