Warburg’s talks with Whatfix have been held at a valuation of around $800 million, but sources said the company is thinking of stretching it up to $1 billion based on its pace of growth amid a muted expansion in the SaaS industry.
During the June quarter, Freshworks had 855 customers providing it with annual recurring revenue (ARR) of more than $100,000, against 737 such customers in 2022 and 535 in 2021.
The firm aims to invest in 25 B2B SaaS startups via the new fund across areas of enterprise digital transformation, ecommerce enablement, fintech, vertical SaaS, applied AI, sustainable tech and healthtech.