Freshworks IPO looks to raise $855m

US Software company Freshworks's IPO next week looks to raise $855m. 

The 22 September IPO is offering 28.5 million shares at a range of $28 to $32. That would give it a fully diluted market valuation near $9.6bn.

San Mateo, Calif.-based Freshworks's registration statement was recently filed with the US Securities and Exchange Commission (SEC).

Company started in India

Hatched in Chennai, India, Freshworks is a software as a service company (SaaS). The company aims to trade on the Nasdaq Global Select Market exchange under the symbol FRSH.

According to the prospectus, Freshworks grew its revenue 53% in the first half of 2021 to $169m (£122.51m) a year earlier. The company reported that it had 52,000 customers and generated $308m in revenue in 2020 while declaring a loss of $10m (£7.25m).

Related topics

#Earnings #IPO

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