Freshworks — a SaaS-based company — has acquired Seattle-based AI startup AnsweriQ for an undisclosed amount. Founded in 2015, Freshworks is now valued at $3.5 billion and has closed about 10 acquisitions since then. The company offers a wide range of products such as freshdesk, freshsales, freshchat, among others. And its platforms include Freddy AI — an analytics solution — that provides predictive insights across the customer journey.
Powered by AI/ML capabilities, with Freddy AI, one doesn’t require data science expert to unlock the value of customers. However, in a continuous attempt to enhance its solution, the firm acquired AnsweriQ, an AI- and RPA-based solution provider that assists in answering customers’ queries, thereby delivering superior customer experience.
The acquisition will complement Freshwork’s AI engine and help customers receive immediate answers to queries. AnsweriQ is one of the major players in the customer service automation space for large clients in call centres.
“The integration of AnsweriQ’s technology will increase our AI capability in customer engagement space to offer significant value to our customers,” said Girish Mathrubootham, founder and CEO of Freshworks.
AnsweriQ’s co-founder and CEO Pradeep Rathinam will join Freshworks as chief customer officer, becoming a part of the leadership of the Chennai- and San Mateo-based company as it eyes a listing in the US in the coming years.
Rathinam said that the company was looking to further gain customers and enhance its products. Consequently, they had to choose between raising funds or integrating themselves with others. And they thought of associating with Freshworks as the best way forward for the company as they could quickly gain new customers.
With this Freshworks’ acquiring spree continues as it already got hold of customer success service Natero last year. Thus, one can expect a few more companies coming in, as Freshworks’ in November, had raised Series H fund worth $150 million.
