Accel, Sequoia-backed Freshworks buys US customer management firm Natero

By Narinder Kapur

  • 22 May 2019
Credit: VCCircle

Software-as-a-service firm Freshworks Inc. has acquired US-based customer management platform Natero Inc. in at least its tenth takeover deal.

The acquisition will help Freshworks add customer management data and analytics to its service suite for customers, it said in a statement on Tuesday. It didn't disclose financial details of the deal.

Freshworks founder and chief executive officer Girish Mathrubootham said the acquisition would help its clients to offer personalised services as well. “Customer engagement should not stop with just marketing, sales and support,” he said. 

Founded in 2012, Natero says it uses data-driven analytics to acquire and retain customers and provide services such as loyalty solutions and behavioural insights. 

The Silicon Valley-based company, founded by Craig Soules, Garth Goodson and Tanya Shastri, raised $3.3 million in a Series A funding round in 2014.

Freshworks, based in Chennai and San Mateo, California, has acquired at least nine other companies till date. Its most recent takeover was that of marketing software startup Zarget in August 2017. Its other acquisitions include chatbot venture Joe Hukum, SaaS startup Pipemonk, social chat platform Chatimity and social media analytics venture Airwoot.

The company, founded in 2010, was initially known as Freshdesk before a rebranding exercise in 2017. The company says it has over 2000 employees at offices located across India, the United Kingdom, Australia and Germany.

In 2018, the company raised $100 million (Rs 685 crore then) in a Series G round of funding led by venture capital firms Accel and Sequoia Capital. CapitalG – the VC arm of tech giant Google’s parent firm Alphabet – also took part in the round.

That round took Freshworks' overall external funding to $250 million, with the company claiming that it had entered the unicorn club – startups which are valued at $1 billion or more. 

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