Freshworks, a cloud-based customer engagement company, recently announced its acquisition of Natero, a leading customer success cloud software. The acquisition is expected to provide Freshworks with a SaaS platform that combines sales, marketing, support & customer success, cites source.
Freshworks is known for putting actionable data in hands of customer success professionals with Natero’s AI/ML powered technology and this will help businesses prevent churn and manage more customers with fewer resources.
Girish Mathrubootham, Chief Executive Officer, Freshworks, has reportedly said that this acquisition will facilitate the company’s mission of providing users with a 360-degree view of their customers. the acquisition is expected to expand the “customer for life” philosophy to all teams which also include account and success managers who need current customer usage and health data to actively engage those accounts at risk of churn, Mathrubootham added.
Craig Soules, founder & CEO, Natero, echoed similar opinions as expressed by Mathrubootham and said that the company requires a rich customer model at the core of its efforts. He added that considering Freshworks has been moving in the same direction as Natero in customer success for a long time, the company is an absolute fit to leverage the customer model.
According to Mathrubootham, the company was initially a Natero customer and the companies have come into alliance to increase capital and expand focus on customer model for Natero.
As per credible source, Natero has raised an amount of $3.3 million from investors like Merus Capital, Salesforce Ventures, Y Combinator & Andreessen Horowitz till date. The amount for the acquisition deal is undisclosed yet. Natero is expected to exist as standalone product but will become part of Freshworks’ integrated customer engagement suite.
Freshworks counts Tiger Global, CapitalG, Accel Partners & Sequoia Capital as investors and has entered unicorn club of India in July 2018, by obtaining $100 million financing at a valuation of $1.5 billion. The company is planning an Initial Public Offering (IPO) in the United States by the next year.
Source credits: https://techcrunch.com/2019/05/21/freshworks-acquires-customer-success-service-natero/