Freshworks has announced the acquisition of Zarget, a SaaS company that provides web optimization and marketing automation tools. None of the company has disclosed the terms of the acquisition deal.
This marks the ninth acquisition for Freshworks in less than three years. It had earlier acqui-hired chatbot start-up Joe Hukum, data integration platform Pipemonk and social media customer service firm Airwoot, among others.
Freshworks founder and CEO Girish Mathrubootham said,
Acquiring Zarget will enable Freshworks to support customers with the pre-acquisition journey as well and truly transform the way our customers attract and engage with their prospective customers. Also, I have known the Zarget team for many years and I am personally thrilled to have them join the Freshworks family and power our expansion into the marketing software category.
While the acquisition amount has not been disclosed, some reports suggests that all institutional investors will get Freshworks shares in lieu of their Zarget shares.
Through this acquisition, Freshworks seeks to further develop Zarget’s marketing suite and provide the team with expertise, technology and operations as well as access to over 100,000 customers of Freshworks Inc, the parent company behind the suite of products.
Commenting about Zarget, the company’s CEO Arvind Parthiban said,
We built Zarget to help marketers make informed decisions on their online properties without the need for deep technical resources or large budgets. Together with Freshworks, we expect to accelerate the digital marketing evolution and help our customers further transform the way they market with combined expertise and solutions.
The start-up had received a seed investment from Freshworks’ Mathrubootham. In November last year, it raised $6 million in its Series A funding round from from Accel Partners, Matrix Partners India and Sequoia Capital India. Prior to that, it had raised $1.5 million in seed round.
Zarget was founded in 2015 by three ex-Zoho employees Arvind Parthiban, Naveen Venkat, and Santhosh Kumar. Within just four months of its launch, the platform had attracted more than 1,000 customers in 10 countries, including Landesk in the US, BizTalk360 in the UK, and Buscape in Brazil.
The company’s aim was to put website conversion rate optimization tools into the hands of startups, small business owners, and marketers, and effectively reduce their reliance on developers and IT teams. The platform is claimed to be designed “for the masses” and can help users who have no coding experience to improve website conversions.