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Seven-year old enterprise software firm Freshworks on Monday acquired Zarget, a startup that specialises in Software as a Service (SaaS).
The deal, valued at around $15-18 million, marks the entry of Freshworks into the automation marketing business, and a step towards becoming a multi product company.
Before changing its name from Freshdesk to Freshworks, the company has made as many as nine acquisitions since its inception. Earlier this year, Freshworks had acquired data integration platform Pipemonk to "strengthen its integration ecosystem". Its other Its other acquisitions include 1Click.io, Frilp, Konotor, Framebench, Airwoot, Chatimity and Joe Hukum.
Freshworks founder and CEO Girish Mathrubootham said that their ambition was to emerge as the "de facto cloud-based business software platform" for businesses of all sizes.
"A growing number of our customers have been asking us to help them in marketing initiatives... Today, our software powers customer engagement across every aspect of the customer journey -- from acquisition to support. Acquiring Zarget will enable Freshworks to support customers with the pre-acquisition journey as well," said Mathrubootham.
Zarget was founded in 2015 by ex-Zoho employees Arvind Parthiban, Naveen Venkat and Santhosh Kumar, and offers tools that help businesses and marketers understand users' behaviour on their websites. Their website explains how they offer services such as click-based map of visitors, A/B testing, funnel analysis and form analytics, among others.
"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," Zarget CEO Parthiban said.
Interestingly, both Mathrubootham and Parthiban have been former colleagues. Mathrubootham, along with some of his teammates at (the formerly-known company) Freshdesk were the angels who gave Zarget the funds to get off the ground.- AI Productivity to Add $28 Billion to $84 Billion to India's GDP: Cognizant Study
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