Freshworks ropes in Tyler Sloat as CFO, CFO News, ETCFO

Customer engagement software firm Freshworks has roped in Tyler Sloat as its chief financial officer as it prepares for a public listing in the next few quarters.

Sloat will be responsible for maintaining sustainable growth across customer segments as well as overseeing the company’s accounting, finance, legal and IT functions, Freshworks said in a statement.

Sloat is joining the firm from the subscription payments firm Zuora where he was serving in a similar role for nearly 10 years. Sloat was involved in helping the company through a successful initial public offering and subsequent quarters as a public company, Freshworks noted.

“The company is uniquely positioned with a suite of affordable business products that deliver outstanding value. We are seeing increased demand for products that better automate customer support and IT services while helping teams work better remotely during this critical time” Sloat said.

Prior to Zuora, Sloat has held executive finance roles at various companies including NetApp and Siebel Systems.

“Tyler brings a strong performance record, financial acumen, and strategic insight which is requisite to running a disciplined business model that also accelerates our ability to achieve a billion dollars in revenue in the coming years,” said Freshworks founder and CEO Girish Mathrubootham.

This appointment comes on the heels of Freshworks appointing former Oracle executive Prakash Ramamurthy as its chief product officer in March this year. The company had also announced that it has crossed $200 million in annual recurring revenue late last year, doubling the number from mid-2018.

Freshworks is currently valued at $3.5 billion, having raised a total of $400 million from investors like Sequoia Capital, CapitalG, Tiger Global, and Accel Partners across multiple funding rounds.

The San Mateo-headquartered firm is also facing a lawsuit from rival Zoho that has accused Freshworks of stealing confidential customer data that accounts to misappropriation of trade secrets in February this year.

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