Welcome to our dedicated page for Freshworks news (Ticker: FRSH), a resource for investors and traders seeking the latest updates and insights on Freshworks stock.
Freshworks Inc. (NASDAQ: FRSH) is a leading provider of cloud-based software, specializing in delivering AI-enhanced business solutions that are easy to use. Headquartered in San Mateo, California, Freshworks serves over 67,000 customers worldwide, including prominent names like American Express, Blue Nile, Bridgestone, and Databricks.
Core Offerings:
- Freshdesk: A comprehensive customer support software streamlining communication across multiple channels, such as email, phone, chat, and social media. It’s utilized by over 100,000 companies, including Honda and Cisco.
- Freshservice: An IT service management solution that boosts efficiency with features like automations, virtual agents, and a multilingual knowledge base. Notable users include Porsche eBike Performance.
- Sales and Marketing Automation: Tools designed to enhance customer acquisition and engagement, supporting businesses in their growth journey.
Global Reach: Freshworks generates revenue from North America, Europe, the Middle East, Africa, Asia Pacific, and other regions, demonstrating its widespread influence and customer base.
Recent Innovations and Achievements:
- Monos leveraged Freshworks to deflect 80% of customer queries and boost sales by 500%.
- Collaboration with AWS to deliver modern, AI-powered business software.
- Porsche eBike Performance improved IT service delivery and employee experience using Freshservice.
Leadership Transition: Founder and CEO Girish Mathrubootham has transitioned to Executive Chairman, while President Dennis Woodside has taken over as CEO. Woodside brings extensive experience, having previously worked at Dropbox and Google.
Freshworks continues to innovate, focusing on AI and customer experience enhancements. Its products are designed for immediate business impact, making it a valuable partner for companies seeking to improve efficiency and customer satisfaction.
Freshworks Inc. (NASDAQ: FRSH) announced a partnership with Collinson Group to address a 50% rise in customer enquiries due to new travel guidelines amid COVID-19. Collinson leveraged Freshdesk to implement chatbot support and automate workflows, managing an average of 1,200 inquiries daily, with peaks reaching 10,000. The rapid deployment was facilitated within three weeks, significantly enhancing operational efficiency and customer service. Effective use of metrics and omni-channel support has positioned Collinson to manage the dynamic environment of the travel industry.
Freshworks Inc (NASDAQ: FRSH) has launched an enhanced partner program aimed at strengthening its ecosystem of over 500 resellers and 350 independent software vendors. Hervé Danzelaud has been appointed as the new vice president of Global Channel and Alliances, previously leading Channels and Alliances for North America. The revamped program includes improved partner relationship management, tiered certifications, and dedicated resources for Preferred partners. This initiative will facilitate deeper collaboration among partners and enhance the customer experience with Freshworks’ software products.
Freshworks Inc. (NASDAQ: FRSH) has launched its Career ReStart program in the US, inspired by a successful initiative in India that promoted gender parity in tech. The program, unveiled on International Women’s Day, aims to support women returning to the workforce after breaks due to family or health reasons. In India, 74 women were shortlisted from over 1,000 applications for a training course, with plans to hire them full-time. Freshworks is committed to increasing female workforce representation to 40% by 2022, currently standing at 35%.
Freshworks Inc. (NASDAQ: FRSH) announced its partnership with Supernus Pharmaceuticals to enhance IT operations using Freshservice. This new solution centralizes IT requests, replacing a multi-channel support model that lacked tracking and efficiency. Within three months, 80% of IT tickets transitioned to the Freshservice portal, exceeding the initial goal. The integration extends beyond IT, improving collaboration across various departments. Supernus aims to further leverage AI and machine learning for streamlined service request management.
Freshworks Inc. (NASDAQ: FRSH), a software company focused on enhancing customer and employee experiences, announced its participation in key investor conferences. CFO Tyler Sloat is set to present at the JMP Securities Technology Conference on March 7, 2022, and the Wolfe Research Software March Madness Conference on March 22, 2022. CEO Girish Mathrubootham will present at the Morgan Stanley Technology, Media, and Telecom Conference on March 8, 2022. Investors can access a replay of the webcasts on the Freshworks investor relations website.
Freshworks Inc. (NASDAQ: FRSH) has partnered with Zalora, Southeast Asia's leading online fashion retailer, to enhance customer support and interaction. Utilizing Freshdesk Omnichannel solutions, Zalora has improved response times and personalized experiences for its 50 million monthly shoppers. The integration has notably reduced abandoned carts, with 75% of customers returning for repeat purchases. Moreover, Zalora's agents can now support multiple customers simultaneously, boosting customer satisfaction scores by 5% each quarter. This partnership highlights the significance of personalized, efficient service in retaining online shoppers.
Freshworks reported impressive financial results for Q4 2021 and the full year, with revenue growth of 44% year-over-year in Q4, surpassing $100 million in quarterly revenue. Total revenue for the full year hit $371.0 million, a 49% increase compared to 2020. However, the company experienced significant operational losses, with a GAAP loss from operations of $(204.8) million for the year. Despite a net cash provided by operating activities of $11.5 million, free cash flow declined to $2.3 million. Freshworks continues to innovate and expand its customer base.
Freshworks Inc. (NASDAQ: FRSH) will announce its fourth-quarter and full-year financial results for the period ending December 31, 2021, on February 10, 2022, after market close. Following the release, the company will host a live audio webcast at 2:00 p.m. PT / 5:00 p.m. ET to discuss financial outcomes and business highlights. Freshworks serves over 50,000 customers globally, including notable names like Bridgestone and Klarna, emphasizing its commitment to delivering user-friendly software solutions.
Freshworks Inc (NASDAQ: FRSH) has resolved the trade secret litigation initiated by Zoho Corporation in March 2020. The lawsuit stemmed from a now-former Freshworks employee who incorrectly accessed Zoho's confidential sales information using his spouse's computer without consent. Freshworks clarified that these actions were against their policies and were not authorized. The legal dispute has concluded with both parties settling, and Zoho has dismissed the lawsuit. Freshworks is implementing measures to prevent future incidents.
Freshworks Inc. (NASDAQ: FRSH) has announced its partnership with the National Rugby League (NRL), employing Freshservice to enhance IT service management across its 16 clubs. By shifting from costly legacy software to a more user-friendly solution, NRL aims to streamline operations for its 1,200 members across Australia and Asia Pacific. Since implementing Freshservice in August 2021, NRL has improved workflow visibility and asset management, expecting further efficiencies through additional Freshservice applications. This partnership exemplifies Freshworks' commitment to simplifying IT solutions.
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