Freshworks acquires US-based AI startup AnsweriQ

Joanna Estrada
February 28, 2020

Freshworks has acquired AnsweriQ, a provider of machine learning and artificial intelligence for large enterprises, for an undisclosed sum. "Pradeep Rathinam (former CEO of AnsweriQ and Chief Customer Officer of Freshworks) brings executive-level expertise and acumen, which will be leveraged in his new role as chief customer officer as we double-down on our efforts to keep and engage customers for life", said Founder and CEO of Freshworks, Girish Mathrubootham.

"Freshworks, unlike legacy, siloed, clunky SaaS solutions, is innovating to deliver a seamless and powerful experience across support, customer success, marketing, and sales functions. With Freshworks' commitment to deploying enterprise-scale AI to better understand customers and build relationships for life, this acquisition is a natural fit".

Freshworks said that AnsweriQ complements its own AI engine, Freddy. It will be able to anticipate customer needs, make recommendations for agents based on the conversations and perform tasks such as refunds and cancellations with no manual input required, improving customer self-service and freeing up agent time to handle more complex requests.

Customer engagement software company Freshworks announced on Wednesday that it has acquired AnsweriQ Inc.

Following the latest acquisition, Freshworks' total acquisition tally has now reached to 12, making it one of the most aggressive Indian startups when it comes to pursuing growth through acquisition route.

AnswerIQ's founder and CEO Pradeep Rathinam will be joining Freshworks as chief customer officer as soon as all the formalities are duly completed.

This is the second acquisition in less than a year for the Chennai based SaaS startup, which also happens to be one of the proud Indian unicorn companies.

In November 2019, Freshworks raised $150 million in a series H funding round led by Sequoia Capital, CapitalG, and Accel, at a valuation of $3.5 billion.

Other reports by Click Lancashire

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