Freshworks Acquires AnsweriQ
- Written by Brian Faussette
- Published in Financial News
Freshworks has acquired AnsweriQ, a provider of machine learning (ML) and AI for larger enterprises.
AnsweriQ complements Freshworks’ AI engine, Freddy, allowing enterprise organizations to use their existing customer data to provide self-service experiences and automate complex customer workflows at scale. AnsweriQ’s ML models are designed to leverage AI algorithms against customer interactions to generate automated self-service Q&As and improve next-step engagement.
The acquisition of AnsweriQ aims to allow Freddy to:
- Incorporate AnsweriQ’s AI to learn from ticket data and agent actions within the Freshworks Customer-for-Life Cloud and improve customer self-service capabilities;
- Better anticipate customer needs and make recommendations for agents based on the conversations; and
- Perform tasks such as refunds and cancellations without manual input.
Freshworks also announced that AnsweriQ CEO Pradeep Rathinam has joined the senior executive team as Chief Customer Officer. He will oversee the company’s global customer support, onboarding and customer success organizations.
“Unlike clunky, siloed, legacy SaaS solutions, Freshworks is innovating to deliver a powerful and seamless experience across sales, marketing, customer success and support functions,” said Rathinam in a statement. “With Freshworks’ commitment to deploying enterprise-scale AI to better understand customers and build relationships for life, this acquisition is a natural fit.”
The acquisition is Freshworks’ second in less than a year and comes on the heels of nearly 60% year-over-year growth for the customer engagement software company.