Freshworks is continuing to reinforce their dominance in the CRM space by announcing they've reached $100 million in annual revenue while also announcing Freshworks 360, a "fully integrated cloud bundle that brings together sales, marketing, and support applications to provide users with a full, easy-to-use customer engagement experience." Let's take a quick look at why these two announcements are so important.
What $100 Million in Annual Revenue Means
Freshworks has seen most of its success come from Freshdesk (helpdesk CRM software) and Freshservice (IT service management software). Freshworks has consistently expanded its base of 150,000-plus businesses worldwide, which, for one of the smaller-than-Salesforce CRM software providers, is significant.
You might have heard of some of these businesses too: Honda, Bridgestone, Hugo Boss, University of Pennsylvania, Toshiba, Cisco, Veeva, OfficeMax, and M&C Saatchi, to name a few. As Freshworks expands even further, we can also expect their annual revenue to continue to increase.
This announcement is extremely telling for those who believe Freshworks is planning to go public. $100 million in annual revenue is no joke; you can count on other providers taking a closer look at what's working for Freshworks and emulate it in their own strategies.
What is Freshworks 360?
Like we already mentioned, Freshworks 360 aims to bring sales, marketing, and support applications together to provide users with a unique customer engagement experience. User experience is a significant trend in the business world because of its direct correlation to the customer experience. Agents who know how to use and navigate the tools they're given are typically more confident in their ability to provide a better customer experience compared to agents who don't know how to navigate their software.
Freshworks 360 allows users to integrate the following products together: Freshdesk, Freshsales, Freshmarketer, Freshcaller (call center software) and Freshchat (customer messaging software). This eliminates the back-and-forth agents had to do between software. If a sales agent wants to know more about a previous customer's experience with a product to sell them something new, they can look at Freshdesk's ticketing management features for helpful context that can be used in a sales pitch -- all without leaving the platform.Girish Mathrubootham, co-founder and CEO of Freshworks, says:
"Sales, marketing and customer support professionals have been forced to use bloated, siloed CRM and support systems, while HR and IT have been beholden to bulky products with unnecessary features and exorbitant price tags. While we are thrilled to announce this new revenue milestone, we are on a mission to put easy-to-use business software in the hands of the people who need it and Freshworks 360 is a major step in helping us do exactly that."
The key line to pay attention to here is "...Freshworks 360 is a major step in helping us do exactly that." This means that not only is Freshworks looking to improve the user experience now, but they're also only considering this a step in the right direction. Perhaps this is a hint that there's more to come?
Freshworks is a major CRM software provider to pay attention to in the future. They're predicted to go public with their company at some point, and they're continuing to improve steadily and significantly. Announcing that they're making $100 million in annual revenue proves that they're a forward-thinking company that's able to land big customers like Honda, Bridgestone, Hugo Boss, University of Pennsylvania, Toshiba, Cisco, Veeva, OfficeMax, and M&C Saatchi, and it will likely encourage other big businesses to jump on the bandwagon.
User experience and customer experience are important factors to consider when looking to purchase sales, marketing, and helpdesk CRM software. Businesses have to have the ability to customize the software to fit their specific needs in order to optimize the software to its fullest potential. Freshworks 360 integrates major Freshworks products together to do just that.Girish Mathrubootham, co-founder and CEO of Freshworks, says that Freshworks 360 is "a major step" forward, suggesting that there's more to come from Freshworks. As more CRM software providers move to the Cloud and start implementing more AI-backed features and automations, it's important to continue looking forward regardless of how much success is already being made. Freshworks is making all the right moves to ensure the customer experience is always prioritized. It should come as no surprise that Freshworks is seeing such significant success.