Freshworks’ growth has increased by 49% compared to 2020, as per its full year 2021 results. The percentage coincides with annual revenues of $371.0 million.
Such returns reflect the provider’s expanding customer base, which now includes more than 56,000 clients. They also follow industry validation from leading market analysts.
For example, its flagship product achieved “Visionary” status in the 2021 Gartner Magic Quadrant for CRM Customer Engagement Center. Meanwhile, Freshservice – its IT service management tool – was recognized as a “Strong Performer” in The Forrester Wave for Enterprise Service Management.
Reflecting on such success, Girish Mathrubootham, CEO at Freshdesk, thanks the entire Freshworks’ team. Speaking on an earnings call, he said:
I’m incredibly proud of our employees for their focus and dedication as we continue to innovate, put customers first, and execute as a public company. Overall, 2021 was a great year for Freshworks.
Alongside its full year results, Freshworks revealed its quarterly revenues, securing $100 million in the final three months of 2021. Such returns equate to a 44% YoY growth in the fourth quarter.
The increase coincides with a raft of familiar brands joining the Freshworks’ community. These include The British Museum, Databricks, and Jollyroom.
Discussing the Freshworks’ approach to acquiring these clients, Mathrubootham makes an interesting analogy:
We hunt for deer and rabbits. We don’t hunt for elephants. So, while we focus on mid-market, we… see a lot of larger companies actually come and pull us into the enterprise.
Creating these relationships with large companies that trust Freshdesks’ offerings seems central to the provider’s approach.
Such a strategy – alongside current market conditions and expectations – fuels its estimations of total revenues that lie between $107.0-$109.0 million for the first quarter of 2022.
Across the entirety of 2022, the vendor expects revenues of between $486.5 million-$495.0 million. However, cautionary factors – including the ongoing risks and uncertainties associated with COVID – may skew these estimations further.
