Freshworks founder Girish Mathrubootham will step down as executive chairman in December, marking his full exit from the Nasdaq-listed software company four years after its U.S. initial public offering.
The company disclosed in a filing with the U.S. Securities and Exchange Commission that Mathrubootham had informed the board on 3 September that he would retire as executive chairman, a Class III director and chairman of the board effective 1 December 2025. The Wall Street Journal reported that the move underscores Freshworks’ transition away from its founding leadership as it pushes further into artificial intelligence.
The filing said Mathrubootham’s decision was not the result of any disagreement with the company’s operations or policies. Lead independent director Roxanne Austin, who has been on the board since May 2021, will succeed him as chairperson.
Mathrubootham’s departure closes a significant chapter for one of India’s most prominent SaaS entrepreneurs. A former Zoho executive, he founded Freshworks in 2010 and built it into a global provider of customer engagement and support software. The company listed on Nasdaq in 2021, making him one of the most high-profile Indian founders to take a startup public in the United States.
In September 2024, Mathrubootham stepped down as chief executive, handing the reins to Dennis Woodside while moving into the executive chairman role. At the time, he told Moneycontrol that his focus would be on artificial intelligence strategy and long-term vision. “I’m a product manager at heart, and with AI being transformative across the industry, I think this is the right time for Freshworks to undergo this transition,” he said then, adding he had no immediate plans to exit.
Since then, however, he has shifted his attention to Together Fund, a venture capital firm he co-founded to back emerging SaaS companies. His departure from Freshworks will allow him to devote full-time efforts to the fund.
Mathrubootham still owns about 4.28% of Freshworks, according to company disclosures. His stake declined from around 5% after he sold 2.5 million shares in December 2024 for about $40 million.
Beyond Freshworks, he has been instrumental in shaping Chennai’s SaaS ecosystem, helping create initiatives such as SaaSBOOMi and mentoring founders through Together Fund. Industry executives credit him with building a pipeline of Indian software firms looking to global markets.
Freshworks has continued to grow under chief executive Woodside. The company reported an 18% year-on-year rise in revenue to $204.7 million for the June quarter, driven by adoption of its artificial intelligence products Freddy AI Copilot and Freddy AI Agent. Combined, the two services have reached $20 million in annual recurring revenue.
Following the results, Freshworks raised its full-year guidance for the second consecutive quarter. It now expects 2025 revenue between $822.9 million and $828.9 million, equivalent to 14–15% growth, compared with an earlier forecast of $815.3 million–$824.3 million.
The company has sought to position itself as a cost-effective alternative to larger rivals such as Salesforce, while expanding its base of enterprise and small-business customers with AI-driven automation.
Freshworks said Mathrubootham will work with Austin to ensure a smooth handover of board leadership. Effective 1 December, the board will be reduced to nine members, with two Class III directors.
Analysts told Reuters that leadership transitions at founder-led technology firms are often pivotal moments, particularly as they balance growth expectations from public investors with the cultural legacy of their early leaders.
For Mathrubootham, the move caps a 15-year journey that transformed Freshworks from a small Chennai startup into a global software player. For Freshworks, the challenge will be sustaining momentum as it competes in a crowded SaaS market increasingly defined by artificial intelligence.