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Acquisition spree continues as Freshdesk buys Pipemonk

Freshdesk continues its acquisition spree and has bought Bangalore-based Pipemonk. “In our endeavour to help lot more SMB customers, we are excited to join hands with Freshdesk, a leading provider of customer engagement software. We are looking forward to continue our journey in the new avatar,” CEO Satya Padmanabham said on the company’s website.

The software-as-a-service firm allows companies to integrate and migrate data between cloud apps like SalesForce, Netsuite, Concur and Workday among others. The terms of the deal was not disclosed.  All 13 Pipemonk employees will be joining Freshdesk, essentially giving it an in-house data integration team, according to this TechCrunch report.

Pipemonk had started as ZapStitch back in 2013. The company has raised $2.1 million from Helion Ventures and Alok Mittal in total. It raised a seed round of funding of $ 100,000 back in 2014. It subsequently raised $2 million.

Pipemonk said that it could set up integrations for businesses in under 10 minutes. Essentially, the platform makes available the same set of data across different platforms which companies use for CRM, accounting, email marketing and HR. Pipemonk comes in to integrate all of these so that all of the business’ data comes under a single umbrella.

Freshdesk’s acquisitions

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Freshdesk has been rapidly expanding the customer solutions it offers through various acquisitions. In April, the company acquired Airwoot, a startup offering brands social media support. In February, it acquired Framebench, an online collaboration platform that enabled teams to share, review and comment on videos, images, documents and presentations etc. and in December last year, it acquired Konotor a marketing and customer relationship manager for mobiles. It had previously also acquired Frilp in October 2015 and 1Click.io in August 2015.

Funding and appointments

In November Freshdesk has raised $55 million led by Sequoia Capital India with participation from Accel Partners. The company has raised a $150.5 million so far. Freshdesk said the funds would be used to expand its entire product line where each product could become a standalone major business.It currently claims to have 100,000 customers in small and medium sized businesses. In April 2015, Freshdesk raised $50 million led by Tiger Global, Accel Partners and Google Capital. In June 2014, it raised $31 million Series D funding led by Tiger Global and Accel Partners.

Last October, Freshdesk appointed Nishant Rao as COO. Rao joined Freshdesk from LinkedIn, where he was the country manager for India for almost 3 years.

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