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Chennai unicorn Freshworks acquires AI & MI provider AnsweriQ

Chennai unicorn Freshworks acquires AI & MI provider AnsweriQ
Chennai unicorn Freshworks acquires AI & MI provider AnsweriQ

Freshworks, a software-as-a-service (SaaS) unicorn based in Chennai, has bought AI & MI service provider AnsweriQ. The company is of the opinion that the acquisition of the startup is in line with Freddy, their own AI engine.

Freshworks’ founder and CEO Girish Mathrubootham stated that the inclusion of AnsweriQ’s technology has been instrumental in improving Artificial Intelligence and Machine Learning capability in the customer engagement landscape and provides considerable value to customers.

The integration is slated to help clients of the companies to use their data to deescalate and automate queries from their customers. Reportedly, Freshworks noted that Freddy would include AI of AnsweriQ to learn from agent action and ticket data within the Customer-for-Life Cloud and boost self-service capabilities.

It is believed that the acquisition will help Freddy to envisage customers’ needs and make suitable recommendation on the basis of the conversations. The company asserts that Freddy will also perform tasks, including refunds and cancellations without any human help.

Pradeep Rathinam, CEO and co-founder of AnsweriQ, is poised to join Freshworks as Chief customer officer. Freshworks’ CEO Girish highlighted the experience and expertise of Pradeep would bring to the fore as they look to boost their efforts to engage and retain customers.

Freshworks is vying to list itself in NASDAQ, a New York stock-based stock exchange. Taking stock of their inclination, Freshworks may need to create awareness pertaining to brand in the U.S. and the highly-anticipated acquisition of AnsweriQ is likely to be the answer to expand their penetration.

Several reports are doing rounds regarding Mathruboothan moving to the U.S. to gear for the initial public offering (IPO) and keep in touch with the U.S. headquarters of Freshworkers.

About Freshworks

Founded in 2010 by Shan Krishnasamy and Girish Mathrubootham, the SaaS unicorn was known as Freshdesk and rendered service of helpdesk software for customer support. In June 2017, the company rebranded itself to Freshworks.

About AnsweriQ

AnsweriQ, co-founded in 2017 by Prashant Luthra and Pradeep Rathinam, is an Artificial Intelligence service company in the customer support space.

Source credit:

https://inc42.com/buzz/freshworks-takes-a-step-towards-us-listing-with-answeriq-acquisition/