On Tuesday, two software as a service-focused companies closed funding. Here are the details.
Freshdesk Raises $55 Million in Series F
Software as a service customer support firm Freshdesk has raised $55 million, bringing its total raised to $150.0 million
The company said it will use the funding to expand across its entire product line, and add more intelligence to its products in 2017, according to a report by TechCrunch. It also plans on growing its global footprint with the added capital.
The $55 million round was led by Sequoia Capital India with participation from Accel Partners.
Freshdesk has 100,000 customers, mostly SMBs, offering a range of products including Freshservice, and Freshsales, a CRM product the company added this year.
SaaSOptics Closes $1.8 Million in Funding
Subscription management platform SaaSOptics has closed $1.8 million in funding which it will use to increase sales and marketing efforts, and fund new platform integrations. SaaSOptics also named Tim McCormick CEO.
Investors participating in the round include Techstars Ventures; Tim Noonan; and Alston Gardner.
"SaaS, cloud and subscription license models coupled with a strong focus on business metrics have created a real market need for subscription management that can meet the needs of growth-oriented SaaS businesses," Ari Newman, Partner, Techstars said in a statement. "When we first met SaaSOptics, it was easy to see that they were delivering a high value, best of breed solution to an underserved market and we are excited to have them as part of the Techstars portfolio."