And there are more coming in tech. Money transfer service Remitly Inc. and customer engagement software provider EngageSmart LLC are expected to go public Thursday.
However, not every company is finding it easy to do an initial public offering. The language learning app Babbel, offered by the German firm Lesson Nine GmbH, was expected to go public Friday but apparently has called it off after tepid investor interest.
Freshworks has built an information technology and customer relationship management software-as-a-service platform. It priced its IPO at $36 per share, above the target range, raising $1.03 billion at a valuation of more than $14 billion.
The company pitches itself as an innovative customer management and engagement platform for businesses, helping them acquire customers, close deals and maintain those relationships. It’s often said to be a rival to the original SaaS CRM giant Salesforce.com Inc. as well as SAP SE and Oracle Corp., but Freshworks argues its products are far more user-friendly, easier to implement and less expensive. As a result, the company has a solid footing with midmarket businesses, with more than half of its annual recurring revenue coming from firms with 250 or more employees.
Freshworks claims a customer base of 50,000, including the likes…