Alphabets wager on Freshworks is up $900 million after software companys IPO
Summary
Alphabets CapitalG investment arm is generating hefty returns from a big bet on cloud software developer Freshworks. Freshworks, whose software competes with Salesforce and Zendesk, marks CapitalGs sixth IPO this year, following the debuts of UiPath, Duolingo, Robinhood and Oscar. "Its hard not to feel great," said Gene Frantz, the CapitalG partner who led the Freshworks investment, in an interview on Wednesday. Frantz recalled the time he first approached Freshworks CEO Girish Mathrubootham, who started the company in India in 2010. For example, the company has provided some engineering support with machine learning and artificial intelligence and has helped Freshworks when it comes to workplace issues such as remote work and returning to the office.