Software-as-a-service (SaaS) unicorn Freshworks Inc., formerly Freshdesk, which supports platforms for product support and marketing professionals, has recently acquired US-based machine learning startup AnsweriQ for an undisclosed amount.
The acquisition will allow Freshworks to scale its AI customer service offerings. AnsweriQ’s Chief Executive Officer Pradeep Rathinam will be joining the senior executive team as chief customer officer, as part of the contract.
Pradeep Rathinam’s new role as chief customer officer will be coordinating the whole corporation towards consistent successful results for the business’s development and customer growth.
Rathinam will be in charge of overseeing Freshwork’s global customer support, onboarding and customer success organizations, further increasing satisfaction, retention, and success of the combined customer base, including AnsweriQ customers 2K Games, Freshly and SeatGeek.
“With Freshworks’ commitment to deploying enterprise-scale AI to better understand customers and build relationships for life, this acquisition is a natural fit. I’m excited to join Freshworks as their new chief customer officer as we create delightful experiences for enterprises that use our products worldwide,” Rathinam said.
AnsweriQ complements Freshworks already existing chatbot –AI Engine Freddy, by stimulating enterprise organization to fully support its current data to scale self-service experiences and automate complex customer workflows.
The firm will be incorporating its chatbot with AnsweriQ’s unique ML models to leverage AI algorithms technology. Freddy will incorporate AnsweriQ’s AI to comprehend from ticket data and agent actions within the Freshworks Customer-for-Life Cloud and embellish customer self-service capabilities.
In a statement, Freshworks founder and CEO Girish Mathrubootam said, “The integration of AnsweriQ’s technology enhances our AI/ML capability in the customer engagement space and offers significant value to our customers.”
AI Chatbot Freddy will extend its capabilities from a knowledge base dependent AI engine to learn from ticket conversations on the fly, according to the Freshworks.
Freddy is capable of deducing customer needs, constructing propositions for agents based on their dialogues and tasks that were executed, such as refunds and cancellations with no manual input required—notably cultivating customer self-service and freeing up agent time to handle more complex requests.
Pradeep Rathinam compared Freshworks from other companies, saying Freshworks is innovating to deliver a powerful and seamless experience across sales, marketing, customer success, and support functions, unlike “clunky, siloed, legacy SaaS solutions.
The said acquisition is Freshworks’ second in less than a year and comes on the heels of nearly 60% year-over-year growth in billings for the company, fueled by widespread industry recognition.
Founded in 2010, Freshworks, which is headquartered in San Mateo, California, has currently more than 2,700+ team members work in offices throughout the world. It provides a 360-degree view of the customer, is ready to go, easy to use and offers a quick return on investment.
Whereas, AnsweriQ provides Zero Contact Resolution without an agent’s intervention. This is achieved through self-service AI and automated responses. For process cases, AnsweriQ enables single-click automation for repetitive and mundane customer service processes.
AnsweriQ’s suite of products helps CS leaders automate information and process-based customer service cases.