This acquisition will facilitate collaboration and prototyping at Freshworks.
Since its establishment in 2015, CanvasFlip has helped product managers to check and validate their ideas with no need to write code manually. Due to this acquisition, the collaboration and prototyping tool will not be available in Chrome Webstore, while the CanvasFlip Chrome extension for designing and editing web pages – Visual Inspector – will remain free of charge.
Founded in 2010, Freshworks had acquired 17 start-ups before its last acquisition. In 2018, the company received $100million of venture capital funding and another $100 million annual recurring revenue. The startup was initially founded in Chenai, India, and is now headquartered in San Mateo, California, with over 2,000 employees and 35,000 paying customers all over the world. In September 2019, Freshworks was named to the Forbes Cloud 100. It’s climbed the list since it was first ranked as 95 in 2017, then 60 in 2018 and now 40 in 2019.
Freshworks’ suite of products. Source: Freshworks
Freshworks provides a 360-degree suite of products, enabling customers to use Freshworks products all in one platform. This pipeline of products helps customers with IT service management, customer relationship management, internal collaboration, cloud-based customer support, and marketing automation. As competition between different professional service automation companies is getting tight, offering more services, partnering with other companies to provide more and better tools, and facilitating customer interaction with these tools is the key to success.