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Freshworks valued at $10.13 billion after raising $1.03 billion in U.S. IPO

by Mike Robinson

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© Reuters. FILE PHOTO – The Nasdaq Logo is shown at New York’s Nasdaq Market Site on September 2, 2015. REUTERS/Brendan McDermid/File Photo

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NEW YORK (Reuters) – Business software firm Freshworks, which counts Accel and Sequoia Capital among its major backers, on Tuesday priced its U.S. initial public offering (IPO) well above the target range to raise $1.03 billion, a source familiar with the matter said.

Sources say Freshworks sold 28.5 millions shares at $36 per share. This is despite the fact that the matter remains confidential. Freshworks was valued at $10.13 million in the IPO.

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