Private Equity

Liquidity Events

Peak XV sells over 1% stake in Saas firm Freshworks for $52-M

Inc42  

Venture capital firm Peak XV has offloaded over 1% stake in Nasdaq-listed SaaS company Freshworks for USD 52 million (around INR 454 crore).The company has sold nearly 2.9 million shares through multiple market transactions between December 9, 2024 and January 28, 2025. These shares were priced between USD 17 and USD 19.20 apiece.The development comes after Freshworks’ founder and executive chairman Girish Mathrubootham sold 2.5 million shares of the company worth approximately USD 40 million in December last year. He now has 232.98 million shares in the firm.Freshworks, founded in 2010 by Girish Mathrubootham and Shanmugam Krishnasamy, offers a suite of software for customer service and support, customer engagement and IT service management.

Between Nov 2011 and Dec 2022, Freshworks had raised about USD 779 M from WestBridge, Peak XV Partners, Steadview Capital, Accel India, CapitalG and Tiger Global.For FY24, Freshworks had reported about INR 2,110 Cr in Operating Income and about INR 205 Cr in PAT.