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Freshworks forays into Singapore, registers 45% growth in ASEAN markets

Freshworks forays into Singapore, registers 45% growth in ASEAN markets
Chennai-based and San-Bruno-headquartered SaaS (Software as a Service) firm, Freshworks, has announced a foray into Singapore. With the launch of its Singapore operations, Freshworks now has a physical presence in nine countries, with a workforce of a little over 1,900.
Last week, Freshworks Co-Founder and CEO Girish Mathrubootham, in an exclusive interview with CNBC-TV18, had said that the company was looking to enhance its Asian presence by entering Japan and Singapore.
The foray means Freshworks now has a physical presence in ASEAN markets, where it is registering a year-on-year growth of 45 percent, the company said in a media statement. Freshworks has confirmed that the foray has been backed by the Singapore Economic Development Board.
The company has a partner network in multiple ASEAN countries, covering regions like Malaysia, Thailand, Philippines, Indonesia, Vietnam, Korea and Hong Kong. Customers from the region include names like Decathlon, iPay88 and Synpulse. Its first regional hub in the ASEAN market will allow Freshworks’ customers to adopt its customer engagement suite and increase its partner resources to meet growing demand in the region.
“The ASEAN region is an exciting market for us, we look forward to playing our role in supporting businesses to scale and achieve their full business potential,” said Sidharth Malik, chief revenue officer, Freshworks. “Our customers and partners in the region have shown confidence by delivering great customer experiences, and we look forward to continuing the momentum.”
In its latest round of funding in 2018, Freshworks had raised $100 million from Tiger Global, Accel Partners, Sequoia and CapitalG. The company also announced a revenue milestone of $100 million, for the first time since inception.
According to Forrester’s APAC Tech Market Outlook for FY18, the market for Middleware SaaS subscription was valued at $4 billion in 2018, registering a compounded annual growth rate (CAGR) of 20 percent.
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