The Ledger
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Mathrubootham: Startups facing funded competitors should raise VC, not bootstrap
“So I think if you are in a category where there's a lot of competition and if some of your competition already funded, it's probably a better idea to get funding and scale rapidly because VCs are going to look for other players in the category. And if you are …”
Mathrubootham: Freshworks crossed $100M ARR at $1.5B valuation
“We announced that we crossed a hundred million dollars of ARR and our valuation for the last funding round was around 1.5 billion dollars.”
Mathrubootham: No Indian software product company has completed an IPO
“There has been no product company from India that is actually IPO.”
Mathrubootham: Freshworks Is Growing Revenue North of 40%
“But we are growing at let's say, let me say very, very healthy rates like north of let's say 40%.”
Mathrubootham: Freshworks reached $100M ARR and a $1.5B valuation
“So we announced that we crossed a hundred million dollars of ARR and our valuation for the last funding round was around 1.5 billion dollars.”
Mathrubootham: No Indian tech product company has completed an IPO
“There has been no product company from India that is actually IPO.”
Mathrubootham: Freshworks has negative dollar-based churn driven by expansion
“Our dollar based churn is actually negative because of the expansion revenue.”
Mathrubootham: Freshworks is growing at north of 40% year-over-year
“But we are growing at let's say, let me say, very, very healthy rates like north of let's say, north of 30 or 40? So, I'm just using it as a ballpark, north of 40.”
Mathrubootham: Under 5% of Freshworks customers use multiple products
“I think what we see as a very big opportunity for us is the fact that I think less than only five percent of our customers actually use more than one product.”
Mathrubootham: Freshworks generates 65% of revenue from SMBs and 35% from enterprise
“So we have 65% of our revenue from SMB customers and 35% from what we call mid-market or large enterprise customers.”
Mathrubootham: Freshworks software is used by over 150,000 businesses
“So, so we have more than a 150,000 businesses across all of our products using our software.”
Mathrubootham: Freshworks maintains negative net dollar churn via expansion revenue
“Yes, but our dollar based churn is actually negative because of the extraction revenue. So we have a very healthy expansion. So, which means our revenue churn is negative.”
Mathrubootham: Freshworks mid-market customers expand from 40-50 to 200-500 seats
“And in our mid-market and large enterprise business, we see a lot of expand, land and expand. So companies that start with say, 40, 50 seats actually expand to 205 hundred, et cetera.”
Mathrubootham: Freshworks Sees a 50/50 to 60/40 Paid Versus Organic Split
“We have 50, 50, 60, 40 kind of split between paid and free or organic lead gen.”
Mathrubootham: Freshworks Products Target 15-to-16-Month Gross Margin Payback
“Each one of our products operates at say 15 to 16 month way back on a gross margin basis. That's what we try to be at, and with really LTV to CAC.”
Mathrubootham: Freshworks Operates at an LTV-to-CAC Ratio Around 3:1
“So it depends on each product, but we know the benchmark is three. So we are around that.”
Mathrubootham: Under 5% of Freshworks Customers Use Multiple Products
“I think less than only five percent of our customers actually use more than one product.”
Mathrubootham: Freshworks Gets 65% of Revenue from SMBs, 35% from Enterprises
“So we have 65% of our revenue from SMB customers and 35% from what we call mid-market or large enterprise customers.”
Mathrubootham: Average Freshsales Customer Pays Around $1,200 Annual Contract
“If you want to get started, you can get started at zero, but the average customer today faces I think around 1200 annual contract.”
Mathrubootham: Over 150,000 businesses use Freshworks software across all products
“We have more than 150,000 businesses across all of our products using our software.”
Mathrubootham: Freshworks monthly SMB logo churn is around 2%
“So it's around it varies by product probably around, I would say two percent a month.”
Mathrubootham: Freshworks expansion is driven far more by seat count than plan tier upgrades
“So today our account based expansion is much larger than our plan based expansion.”
Mathrubootham: Most Freshworks Leads Are Inbound via SEO and SEM
“So we have very little outbound calling but like majority of our leads are inbound and primarily through SEO, SEM”
Mathrubootham: Freshworks Products Split Paid and Organic Leads 50/50 to 60/40
“We have 50, 50, 60, 40 kind of between paid and free or organic lead gen.”