India's Freshworks eyes South Africa expansion

SA Freshworks StoryFreshworks has raised nearly US$150mn in funding across six rounds. (Image source: OER Africa/Flickr)India's Freshworks Inc said it would grow its footprint in South Africa, as the company looks to get a foothold in the growing African IT market

“Our growth plan for South Africa completely leverages the company’s product strengths, financial capabilities, and technology innovation to drive industry-leading returns,” said Arihant Jain, business head, Middle East & Africa, Freshworks.

The cloud software company, which serves customers such as Berkshire Hathaway, DHL and Naspers, has raised nearly US$150mn in funding across six rounds.

Freshworks is backed by investors such as Tiger Global Management, Accel, Sequoia and search engine giant Alphabet's venture capital arm CapitalG.

The company has made at least nine acquisitions over the last three years ranging from chatbots to digital marketing tools to beef up its portfolio of cloud-based enterprise software products.

In recent months, the company has been looking to aggressively gain market share in Africa, to cash in on the growing IT spend in the continent.

International Data Corporation, an IT sector focused market research firm, estimates that overall African IT spending will be US$33.4bn in 2018.

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