What Freshdesk's selection to Gartner's Magic Quadrant mean for the SaaS domain in India?
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A report jointly published by Accel Partners and Google earlier this year states that Indian SaaS companies are expected to reach the $10 billion revenue mark in 2025.
The report states India has over 500 SaaS startups currently, collectively earning $600 million in revenue. Globally, SaaS is expected to become a $132 billion revenue industry by 2020.
Freshdesk, a provider of cloud-based customer support software, was recognized by Gartner Inc in the Magic Quadrant for CRM Customer Engagement Center on Tuesday. Freshdesk is Gartner’s only new addition to the Customer Engagement Center Magic Quadrant this year.
Launched in 2010, the flagship product, Freshdesk allows organizations to support customers through email, phone, websites, forums, and social media. Freshdesk’s multichannel cloud-based solution is used by more than 70,000 companies of all sizes in 140 countries around the world.
Gartner’s “Magic Quadrant” examines the global market for customer service and support applications designed to engage customers through whichever channel they are using when they require assistance.
Lauding the announcement, Shekhar Kirani of Accel Partners said, “It is a great signal to enterprise software buyers world-wide that global product companies are coming out of India.” Accel Partners is one of the investors in Freshdesk.
Founded by Girish Mathrubootham, Freshdesk has made 5 acquisitions in the past year, in areas of social, mobile, collaboration, and artificial intelligence.
Antony Kattukaran, CEO and co-founder at Tagalys said,” Being part of the Gartner MQ gives international customers, global investors and Indian founders of SaaS products - Confidence.”
“It definitely goes to prove that with the right team and exceptional products that exceeds customer requirements, we can challenge international incumbents. We perform better when the bar is raised and with Freshdesk leading the SaaS pack in India, there will be expectations of global standards from everyone,” Kattukaran added.