image: Freshworks

Freshworks, a San Mateo, California-based company that makes a host of customer support software, has announced $150 million in Series H funding led by Alphabet’s CapitalG, Sequoia Capital and Accel. The funding values Freshworks at $3.5 billion, up from $1.5 billion when it raised funding July last year. Notably, Accel, Sequoia, and CapitalG, the participants in this new funding, were the only investors in the previous round, entailing a double down on a previous bet on Freshworks.

The new funding brings the total raised by Freshworks to $400 million. The company says it’ll make use of the investment to further global expansion and accelerate investments in its Software-as-a-Service (SaaS) platform. Freshworks was founded in 2010, formerly known as Freshdesk, and has grown to employ more than 2,500 currently. The San Mateo-based company has, as of late, embarked on what can be termed an expansion spree, having opened a second U.S. office last month, with plans to hire more than 100 engineers to support “increased sales activity”. The launch of the second U.S. office brought the total number of offices occupied by Freshworks across the globe to 11.

Freshworks’ Series H funding is expected to close by year-end, being subject to conventional closing conditions, including U.S. antitrust regulatory clearance. A $3.5 billion valuation and $150 million in new funding doesn’t seem bad for a company that crossed $100 million in annual recurring revenue (ARR) last year, and recorded a 61% billings spike in the second quarter of this year.