Girish Mathrubootham to Step Down as Executive Chairman of Freshworks
Girish Mathrubootham is set to retire from his position as executive chairman of the Nasdaq-listed SaaS company Freshworks on December 1, 2025, marking four years since the firm went public. According to the company’s SEC filing, Mathrubootham will pivot towards investment through Together Fund, his venture aimed at the SaaS sector. His decision follows a previous transition from CEO to executive chairman in May of last year.
Upon his departure, Roxanne Austin, who currently serves as the lead independent director, will assume the role of chairperson of the board. This organizational reshuffle will also see a reduction in the board to nine members and a decrease in the number of Class III directors to two. The company has stated that his exit is not due to any operational or governance-related disagreements.
Freshworks and the SaaS Landscape
Founded in Chennai in 2010, Freshworks has played a pivotal role in India’s SaaS evolution. Mathrubootham has been a key player, guiding the firm from a modest startup to a $10 billion listing on Nasdaq in 2021. Recent disclosures indicate that he now possesses a 4.28% ownership stake in the company after parting with a small percentage of shares in late 2024.
Together Fund’s Growth
Together Fund, initially established with an $85 million corpus, introduced its second fund in June 2023, aiming for a target size of $150 million. Reports suggest that the firm is working towards closing Fund II by June of this year.
Freshworks’ AI-Driven Expansion
Under the leadership of CEO Dennis Woodside, Freshworks has experienced notable growth driven by AI innovations. Its Freddy AI products recently attained an annual recurring revenue (ARR) of over $20 million, contributing to enhanced projections for FY25. Additionally, Freshworks’ operating revenue surged to $204.7 million in the quarter ending June 2025, up from $174 million in Q2 of the previous year. This robust growth, coupled with effective cost management, has enabled Freshworks to cut its operational losses by 80%, reducing them to $9 million in Q2 of FY25 from $44 million in the same quarter of the previous fiscal year.