The demand for cloud-based software as a Service and digital apps witnessed a north swing, as the pandemic push has all-time increased the demand for digitisation. SaaS companies and digital apps, according to data by Tracxn, raised around $2.10 bn in funding between Jan- Oct, compared to $1.70 bn in 2019. Top funds were raised by Postman ($150 mn), Freshworks ($250 mn), High Radius ($125 mn), Pine Labs ($85 mn), Khatabook ($60 mn).
Top SaaS firms, as COVID-19 cases continue to grow, have decided to continue WFH until December. While Chargebee and Freshworks have mandated WFH till the end of 2020, Zoho has not decided a specific date to resume WFO. Tech companies with firm security tools and productivity monitorisation are comfortable with remote working. Kissflow, another SaaS firm has set up Remote plus, a hybrid remote working model where WFO is required only one week a month.
Freshworks Inc announced a strategic partnership with TCS to market ITSM solutions built on top of its cloud to improve end-user and employee engagement. This collaboration will allow Freshworks to leverage TCS’s strong market presence. Freshworks’ strong suite enables business transformation through digitisation within weeks. It helps businesses to get boosted ROI by unifying their marketing, sales, support functions.