Peak XV Partners Sells 1% Stake in Freshworks for USD 51.5 Mn The stake sale, conducted through multiple open market transactions between December 9 and January 28, involved 2.93 million shares priced between USD 17 and USD 19.10 per share.
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Venture capital firm Peak XV Partners has sold about a 1% stake in software-as-a-service (SaaS) company Freshworks, according to a US Securities and Exchange Commission (SEC) filing dated January 29, 2025.
The stake sale, conducted through multiple open market transactions between December 9 and January 28, involved 2.93 million shares priced between USD 17 and USD 19.10 per share. The total transaction value stands at USD 51.5 million. Following the sale, Peak XV now holds a 3.9% stake in Freshworks.
This divestment comes after Freshworks' Founder and Executive Chairman, Girish Mathrubootham, sold shares worth approximately USD 39 million in December 2024. Mathrubootham offloaded over 2.5 million shares at weighted average prices ranging between USD 15.33 and USD 16.50 per share.
Peak XV Partners, previously known as Sequoia Capital India and Southeast Asia, first invested in Freshworks in 2016. Between 2016 and 2019, it reportedly injected USD 80 million into the cloud-based customer engagement software firm.
The sale follows a strategic move by Peak XV, which cut the size of its largest fund by 16% amid a slowdown in growth-stage funding. The firm, which raised USD 2.85 billion for its eighth fund in May 2022, plans to return about USD 465 million to its limited partners (LPs).
Recently, Peak XV sold a 1.5% stake in fintech company MobiKwik for INR 82 crore and is poised for an INR 810 crore exit from skincare brand Minimalist's sale to Hindustan Unilever.
