Freshworks to raise $912 million via IPO at $9 billion valuation

Software product startup Freshworks plans to raise as much as $912 million through an initial public offering in the United States, at a valuation of around $9 billion.

The San Mateo-based startup that was founded in Chennai plans to sell 28.5 million shares at a price range of $28-$32, the company said in a filing to the US Securities and Exchange Commission (SEC).

The Salesforce rival could raise $912 million if investors buy at the upper end of the price band.

Freshworks, backed by blue-chip Silicon Valley funds including Accel and Sequoia Capital as well as New York-based investment firm Tiger Global, was most recently valued at $3.5 billion.