India's VC-backed Freshworks acquires domestic marketing player

Financial details of the acquisition were not disclosed. The deal will provide an exit for Zarget’s VC backers Accel Partners, Sequoia Capital and Matrix Partners India. Freshworks founder Girish Mathrubootham, who provided Zarget with angel funding in 2015, will exit as well, but will only receive his initial investment back to avoid conflict of interest, according to a statement.

Zarget’s conversion rate optimization (CRO) tool, which helps businesses analyze customers’ interactions with their websites, will be integrated into Freshworks’ software platform. The platform includes a suite of software-as-a-service (SaaS) products such as Freshdesk and Freshservice designed to help employees communicate with customers and co-workers.

“We built Zarget to help marketers make informed decisions on their online properties without the need for deep technical resources or large budgets. Together with Freshworks, we expect to accelerate the digital marketing evolution and help our customers further transform the way they market with combined expertise and solutions,” said Zarget CEO and co-founder Arvind Parthiban.

Freshworks was founded in 2010 and has received several rounds of VC funding, most recently a $55 million Series F round led by Sequoia, with participation by Accel. Additional VC backers include Tiger Global Management and Google Capital, which participated in the company’s Series D and Series E rounds.

The company is headquartered in California, with offices in India, the UK, Australia and Germany. Its products have over 100,000 users worldwide, including companies and organizations such as Honda, Bridgestone, and the University of Pennsylvania.

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• Topics
• South Asia
• Technology
• Support services
• Expansion
• Trade sale
• India
• Sequoia Capital
• Accel Partners
• Matrix Partners
• TMT
• M&A