Freshworks launches IPO, Optimizely launches Data Core service and more CX News
Freshworks, which provides customer and employee experience software solutions, announced the price of its IPO this week. The 28,500,000 Class A common shares at a public price of $ 36.00 per share had the company on day one of trading above the expected target of $ 1.03 billion, initially valuing the company at 10 , 13 billion dollars. Thursday afternoon, September 23, it was valued at just over $ 8 billion.
The shares began trading on the Nasdaq Global Select Market under the symbol âFRSHâ on September 22. Morgan Stanley, JP Morgan and BofA Securities are acting as the principal bookkeepers of the offering.
Freshworks is headquartered in San Mateo, California. Its software is designed to help organizations create customer and employee experiences. Its teams operate from 13 offices around the world and serve more than 52,000 customers, including Bridgestone, Chargebee, DeliveryHero, ITV, Klarna, Multichoice, OfficeMax, TaylorMade and Vice Media.
In other news on customer experience and digital marketing software …
Mirakl Announces $ 555 Million Series E Funding
Mirakl, an enterprise marketplace SaaS platform provider, announced that the company has raised $ 555 million in a Series E funding round led by Silver Lake, with participation from long-term investors. 83North term, Elaia Partners, Felix Capital and Permira. The new financing brings the company’s valuation to more than $ 3.5 billion.
Mirakl’s valuation has more than doubled since its $ 300 million Series D funding round announced on September 22, 2020 and led by Permira’s growth fund. This financing will allow Mirakl to develop its corporate marketplaces and continue to invest in its technology, its expertise and its ecosystem of partners and to develop its teams.
Areas targeted for investment include:
Hiring of 350 engineers
- Bring the Mirakl Labs team to 500 by 2023 and focus on expanding AI, automation and features
- Double the size of your customer success organization
- Expand the size of Mirakl Connect, an ecosystem of market-ready sellers
- Broaden its geographic reach, with the dual objective of developing its head offices in Paris and Boston and increasing its presence in the main markets of the EMEA region, the Americas and Asia-Pacific
Philippe Corrot and Adrien Nussenbaum are the co-founders and CEOs of Mirakl.
West Monroe acquires Verys
Digital business consulting firm West Monroe announced the acquisition of Verys, a product engineering services company based in Santa Ana, California. The transaction, which closed on Wednesday, September 22, represents the largest for West Monroe to date.
The acquisition follows the company’s announcement last week that it is investing $ 250 million to continue building its end-to-end digital services. It’s building a global product development platform, and Verys is part of the platform. According to West Monroe officials, this will strengthen West Monroe’s ability to create and manage digital products for its customers as it begins to recruit technology talent globally.
Verys was founded in 2012. The company has more than 220 employees. Its employee base includes engineers, UX designers, DevOps specialists and project managers specializing in software creation.
Emplifi acquires Go Instore, a direct commerce software provider
Emplifi, a unified customer experience platform, has announced the acquisition of Go Instore, a video-based retail platform in the UK. Go Instore enables live commerce by connecting online customers with in-store product experts using immersive live HD video.
Go Instore will be added to Emplifi Social Commerce Cloud. Live video can be used to provide customers with a number of personalized services. It can also be used to host streaming video events from a website or through social platforms like Facebook and Instagram for product launches, seasonal campaigns or influencer marketing promotions.
Go Instore, headquartered in London, has over 60 employees and over 100 clients worldwide.
Optimizely launches the Data Core service
Optimizely, which provides digital customer experience software, introduced a database service. According to Optimizely officials, it is enhancing its Digital Experience Platform (DXP) with deeper analytics and unified data insights into its product suite.
The new service will be available to Optimizely cloud customers in the first quarter of 2022 and will be included free of charge, subject to the usage limit of MAU 250,000, for customers who implement one or more of its solutions, including Content Cloud, Commerce Cloud, B2B Commerce Cloud and Experimentation.
Litmus announces the integration of Adobe Journey Optimizer
Litmus, an email marketing provider, announced integration with Adobe Journey Optimizer. The Adobe Experience Cloud app, built natively on the Adobe Experience Platform, is a B2C-focused omnichannel marketing tool.
Litmus email previews will be integrated with Adobe Journey Optimizer and users will be able to test emails as they are created. Marketers can also take advantage of Litmus engagement information.
Brightspot launches partner program
Brightspot, a content management system (CMS) provider, has announced the launch of the Brightspot Partner Program. It is developed for solution partners and digital agencies and consulting firms. Brightspot’s API-first platform includes headless capabilities and includes a number of pre-built integrations.
Additional benefits of joining the Brightspot Partner Program include:
- Training on the API-first approach and the headless architecture of Brightspot
- Assistance in the co-sale of Brightspot with partner services
- Ongoing support: Brightspot supports customer demos and initial implementations
- Access to the Brightspot partner portal
- Referral commission on the Brightspot license for transactions concluded from a partner
- New opportunities sought by Brightspot for established partners
Bizzabo expands its management team
Bizzabo, a successful event platform, has named five event industry leaders in product, marketing, sales and account management: Megan Murphy, Tim Bull, Elijah Clark-Ginsberg , Devin Cleary and Sarah North.
Murphy joins Bizzabo as Vice President of Account Management. Most recently, she was Vice President of Digital Sales and Partnerships at Freeman Company.
Bull is joining Bizzabo as Senior Vice President of Sales in the EMEA zone. Previously, he was General Manager of Sales, EMEA and APAC, at Aventri.
Clark-Ginsberg joins the Bizzabo product organization as product manager. Clark-Ginsberg has spent the past eight years orchestrating HubSpot’s flagship event: INBOUND.
Cleary joins Bizzabo as Vice President of Global Events. Previously, he held the positions of Event Experience Strategist at HubSpot and Senior Director of Corporate Events at the American Red Cross.
North joins Cleary’s team as Director of Event Experiences. North has held event management roles at Ellucian, Viacom, Live Nation, Shire and PTC.