Freshworks Targets $1 Billion Revenue by 2026, Fueled by IT Service Management Growth and Larger Customers
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Freshworks is aiming to reach $1 billion in revenue by 2026, relying on growth in IT service management (ITSM) and moving upmarket.
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ITSM is projected to make up 60% of Freshworks' annual recurring revenue by 2026, up from 44% currently.
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Freshworks is gaining ITSM market share with growth around 40%, compared to 12% market growth.
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Freshworks now serves over 13,000 mid-market and enterprise customers, which provide nearly 60% of revenue.
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By 2026, Freshworks aims to have over 5,000 customers generating $50,000+ in annual recurring revenue, up from 2,186 currently.