Enterprise software firm Freshworks Inc., previously Freshdesk, said on Monday that it had acquired Zarget, a website analytics start-up backed by marquee investors including Sequoia Capital. The terms of the deal were not disclosed.
This marks the ninth acquisition for Freshworks in less than three years. It had acqui-hired chatbot start-up Joe Hukum, data integration platform Pipemonk and social media customer service firm Airwoot, among others.
“At Freshworks, our ambition is to emerge as the de facto cloud-based business software platform for businesses of all sizes,” said Girish Mathrubootham, chief executive and founder of Freshworks. The company said the acquisition will help it build marketing solutions for its customers.
Founded in 2015, Zarget offers tools to businesses and marketers to understand user behaviour on websites. According to the company, its suite of solutions—which include a click map of visitors, tests to determine the webpages that are doing better and other patented tools deployed through Google Chrome extensions—deliver actionable insights to increase user engagement.
“Today, our software powers customer engagement across every aspect of the customer journey, from customer acquisition to customer support. Acquiring Zarget will enable Freshworks to support customers with the pre-acquisition journey as well and truly transform the way our customers attract and engage with their prospective customers,” Mathrubootham said.
Zarget was started by former Zoho executives Arvind Parthiban, Naveen Venkat and Santosh Kumar and is based in Chennai. The start-up received a seed investment from Freshworks’ Mathrubootham and went on to raise $7.5 million over two rounds from Accel Partners, Matrix Partners India and Sequoia Capital India.
“We built Zarget to help marketers make informed decisions on their online properties without the need for deep technical resources or large budgets. Together with Freshworks, we expect to accelerate the digital marketing evolution and help our customers further transform the way they market with combined expertise and solutions,” said Zarget CEO Parthiban.
Source: Mint