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Freshworks Crosses $300M in ARR and Closes 2020 with Over 40% Year Over Year ARR Growth

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Freshworks, Inc., the intelligent customer engagement software company, today announced it surpassed $300M in ARR, growing the business by 40% year over year through unprecedented economic times. Freshworks’ record year featured new product offerings, strategic acquisitions to accelerate AI and an expanded executive team to fuel its next phase of growth: the march towards the billion-dollar revenue milestone.

“Like everyone, our 2020 plan went out the window when the pandemic hit, but our hard-working team persevered,” said Girish Mathrubootham, Freshworks founder and CEO. “Our mission is to create customers for life and during this past year, this goal was put to the test. Our team rose to the challenge and rallied around our customers to help them navigate unknown waters and empower their employees to respond to increasing customer demands.”

“Freshworks’ impressive growth is not only a testament to the company’s creativity and can-do culture, but also reflects how businesses are looking for new and innovative ways to connect with their customers,” said Sameer Gandhi, partner at Accel. “Freshworks delivers powerful, easy-to-use cloud-based solutions packaged in a flexible and affordable way, which is even more relevant in 2021 and beyond.  As Freshworks first investor, we admire their achievements not only for the past year but throughout their impressive 10-year history, during which they have consistently delivered tremendous value to their customers through an increasing array of inventive products. We know even more history is yet to be written as they continue to fulfill their customer-for-life mission.”

During 2020, Freshworks also innovated on products, scaled its executive bench and accumulated an impressive list of achievements.

Launched CRM solution to align sales and marketers around customer
Freshworks unveiled Freshworks CRM, a single solution that unifies the customer journey with out-of-the-box capabilities and delivers more personalized conversations at every customer touchpoint for improved business outcomes. The Freshworks CRM solution is built on Freshworks Neo, a new and fundamental reimagining of the platform experience, which aggregates data on an embedded customer data platform for personalized customer engagement, improved lead conversion and sales growth. Neo eliminates the reliance on unwieldy tools and complex multi-stack point solutions that result in data silos that limit artificial intelligence (AI) and machine learning’s (ML) usefulness. With Neo, businesses can quickly and easily craft and extend custom environments via simple clicks to better serve their customers and prospects.

Acquired technologies to fuel AI and automation
Freshworks closed two acquisitions in 2020. The company acquired AnsweriQ, a provider of ML and AI for larger enterprises. AnsweriQ complements Freshworks’ AI engine, Freddy, by enabling enterprise organizations to use existing customer data to scale self-service experiences and automate complex customer workflows. Freddy can now anticipate customer needs, make conversation-based agent recommendations and perform tasks such as refunds and cancellations with no manual input. The technology significantly improves customer experience and frees up agent time to handle more complex requests.

The company also acquired Flint, a leading IT orchestration and cloud management platform, to bolster Freshservice’s IT service management (ITSM) and IT operations management (ITOM) capabilities. This acquisition provides greater visibility for IT teams to better manage hybrid infrastructures, optimize spend and automate employee workflows.

Expanded executive bench for next growth phase
Freshworks hired numerous seasoned tech veterans to provide increased focus and oversight in key areas of the business.  It extended its senior executive team by adding Chief Financial Officer Tyler Sloat (from Zuora, Inc.), Chief Customer Officer Pradeep Rathinam (from AnsweriQ Inc. and Microsoft Corporation), Chief Product Officer Prakash Ramamurthy (from Oracle Corporation) and Chief Revenue Officer José Morales (from Atlassian).

Received global and industry-wide recognition for its solutions and business practices

  • Forbes Cloud 100 named Freshworks the #16 top privately-held SaaS company.
  • Glassdoor and Battery Ventures named Freshworks a top-25 private cloud company to work for during the COVID-19 pandemic.
  • Gartner included Freshworks in four Magic Quadrants, recognizing Freshdesk as a Visionary in the 2020 Magic Quadrant for CRM Customer Engagement Center, and listing it in the 2020 Magic Quadrant for IT Service Management Tools, 2020 Magic Quadrant for CRM Lead Management, and the 2020 Magic Quadrant for Sales Force Automation reports
  • Forrester Research named Freshworks a Strong Performer in The Forrester New Wave: Chatbots For IT Operations, Q4 2020

Gartner, “2020 Magic Quadrant for the CRM Customer Engagement Center, Brian Manusama4 June 2020.
Gartner 2020 Magic Quadrant for IT Service Management Tools, Rich Doheny6 October 2020.
2020 Magic Quadrant for CRM Lead Management, IIona Hansen17 August 2020
2020 Magic Quadrant for Sales Force Automation, Tad Travis28 July 2020

Gartner Disclaimer:
Gartner does not endorse any vendor, product or service depicted in our research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

Artificial Intelligence

atNorth Shortlisted for Datacloud Global Awards, The Energy Awards and The Women in Green Business Awards

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The leading Nordic data center business achieves multiple new accolades.
REYKJAVÍK, Iceland, May 10, 2024 /PRNewswire/ — atNorth, the leading Nordic colocation, high-performance computing, and artificial intelligence service provider, today announced widespread industry recognition including shortlisting’s in the `Excellence in Data Centre Europe Award 2024′ category at the Datacloud Global Awards and the `Energy Efficient Partnership of the Year’ category at the Energy Awards.

The Datacloud Global Awards celebrate excellence in the data center and cloud industry, recognizing outstanding achievements, innovation, and leadership across various categories. From pioneering technology solutions to sustainable practices, these awards highlight the trailblazers and visionaries driving the digital transformation landscape forward.
atNorth’s continuous commitment to developing the most advantageous solutions for its clients has led the business to be recognized for its efforts in energy efficiency, data center excellence and as a leader in the data center industry.
Additionally, atNorth’s CFO & Deputy CEO, Eva Sóley Guðbjörnsdóttir has been shortlisted in the `Diversity and Inclusion Champion of the Year’ category at the Women in Green Business Awards, illustrating the commendable ethos of atNorth’s business as a whole, as it champions fairness and the greater good – both internally and at the core of its service provision.
“We are delighted to be acknowledged in a variety of categories across multiple awards,” says Eva Sóley Guðbjörnsdóttir, CFO & Deputy CEO, at atNorth. “As we remain committed to our vision of `more compute for a better world’, this recognition inspires us to continue to advocate for best practice within our business and the industry as a whole.”
The news follows atNorth’s recognition in TechRound’s Sustainability60 campaign, at the UK Green Business Awards and the Tech Capital Awards. The business has also recently announced Anna Kristín Pálsdóttir as Chief Development Officer and Jörgen Larsson as Director of Hyperscale Operations as the business continues to scale to meet the increasing demand for its services.
About atNorth
atNorth is a leading Nordic data center services company that offers sustainable, cost-effective, scalable colocation and high-performance computing services trusted by industry-leading organizations. The business acquired leading High-Performance Computing (HPC) provider, Gompute, in 2023 enabling a compelling full stack offering tailored to AI and other critical high-performance workloads. 
With sustainability at its core, atNorth’s data centers run on renewable energy resources and support circular economy principles. All atNorth sites leverage innovative design, power efficiency, and intelligent operations to provide long-term infrastructure and flexible colocation deployments. The tailor-made solutions enable businesses to calculate, simulate, train and visualize data workloads in an efficient, cost-optimized way.
atNorth is headquartered in Reykjavik, Iceland and operates seven data centers in strategic locations across the Nordics, with additional sites to open in Helsinki, Finland and in Denmark in Q4 2024, as well as its tenth site ready for operation in Kouvola, Finland in 2025.
For more information, visit atNorth.com or follow atNorth on LinkedIn or Facebook.
Press Contact:Caroline BruntonKite Hill PR for atNorth+44 (0) 7796 274 [email protected]
This information was brought to you by Cision http://news.cision.com.
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ProofID wins Judges’ Award for Global Ambition at the 2024 Northern Tech Awards

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MANCHESTER, England, May 10, 2024 /PRNewswire/ — UK-headquartered, global Identity and Access Management (IAM) specialist, ProofID has won the Judge’s Award for Global Ambition at the Northern Tech Awards held at Manchester Cathedral. The company won the award in recognition of its expansion in the USA following the successful acquisitions of Regatta Solutions an Austin, Texas based Identity Governance and Administration (IGA) integrator and PEGRight a Colorado Springs, Colorado based IAM integrator.

 
 
These two acquisitions created a combined business which leads the field as a provider of enterprise identity solutions and global identity managed services across Europe and North America. The awards, organised by GP Bullhound, are a demonstration of the spirit of innovation, resilience, and growth that defines the Northern tech ecosystem.
Tom Eggleston, CEO of ProofID said: “ProofID has always embraced its northern roots, but it’s been an exciting road.”
“Our journey to the international stage continues and reflects not only our ambition to grow via acquisition but also our ability to adapt, innovate and thrive in other territories. It’s truly wonderful for our work to be recognised in this way.”
In 2022, Maven invested £15 million through the Maven UK Regional Buyout Fund to support ProofID’s growth and strategic expansion. Since then, the company has continued to develop its partnerships with IAM vendors, offering broader solutions and enhancing its market position.
The award, accepted by Peter Dolan, CFO of ProofID, is held to showcase leading tech businesses in the North, fuelling growth in its powerful tech economy. The eleventh edition of the Northern Tech Awards ceremony, brought together 250 CEOs, entrepreneurs, and business leaders from across the digital economy, celebrating innovation and excellence in the North of England and Scotland. 
Javed Huq, Managing Director of sponsor, GP Bullhound said: “Congratulations to all the winners of the 2024 Northern Tech Awards.
“Their success is a testament to the remarkable determination and entrepreneurship, which have enabled their businesses to thrive in a challenging market landscape.
“We are immensely proud of the dedication and innovation within the Northern tech ecosystem and believe it is important to celebrate these achievements at tonight’s awards. We are honoured to champion these leading tech businesses and look forward to their continued growth and contribution to the UK economy.”
About ProofID
ProofID is a global identity security partner, integrator and service provider. As a proven identity specialist, ProofID is committed to delivering pain-free, secure and seamless digital user experiences however complex the project. Trusted by Tier 1 enterprises and mid-market businesses around the world to design, deliver and manage IAM and IGA services. ProofID has successfully deployed industry leading technologies into all market sectors with dynamic workforce needs and seamless customer engagements. ProofID’s highly skilled team has been awarded the highest technical accreditations by all their chosen partners including Ping Identity, earning Global Delivery Partner of the Year Award for 6 consecutive years and SailPoint, achieving delivery Admiral status. For more information visit www.ProofID.com.
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Northern Data Group’s Peak Mining announces new partnership for 28MW of mining, powered by 100% renewable energy

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28MW of miners delivering 1.3 EH/s, strategically located in Paraguay2,860 units of MicroBT’s M63-series liquid-cooled WhatsMiners to be installedPower rate of sub $0.04/kWh, generated by 100% renewable hydropowerFRANKFURT, Germany , May 10, 2024 /PRNewswire/ — Northern Data Group’s Peak Mining today announces a new partnership with Penguin Infrastructure Holding (“Penguin”) for 28MW of mining capacity. This project represents a significant next step in Northern Data Group’s geographical expansion and enables Peak Mining to increase its hashrate, powered by 100% renewable energy.

The hardware will be energized in H2 2024 and marks Peak Mining’s first step into South America. 2,860 units of MicroBT’s M63-series liquid-cooled WhatsMiners will be installed at the site. The hardware will generate 1.3 EH/s, contributing to Peak Mining’s planned growth to 7.9 EH/s this year.
The site in Paraguay is 100% powered by renewable hydropower harnessed from the 14 GW Itaipu Dam, it is the world’s third-largest hydroelectric dam. The site will therefore benefit from the availability of clean energy.
This expansion into South America follows Peak Mining’s recent purchase of a 300MW mining data center site in Corpus Christi, Texas, which will power around 4.2 EH/s of MicroBT’s miners as well as the construction of a 30MW facility in Grand Forks, North Dakota, which will support approximately 1.1 EH/s of the miners.
This selection of sites underscores Northern Data Group’s commitment to meet the demands of the industry as efficiently as possible. Throughout 2024, Northern Data Group will be rapidly expanding its HPC footprint. 
Aroosh Thillainathan, Northern Data Group’s Chief Executive Officer, commented:
“This partnership is significant to Northern Data Group as we continue to execute on our investment strategy and solidify our position within the global High Performance Computing market, and I’m especially pleased to be working with Penguin, given the team’s impressive sustainability standards at this site. It is Peak Mining’s first expansion into South America and is another milestone for the company as it continues to scale its international Bitcoin mining capabilities.”
Niek Beudeker, Managing Director, Peak Mining, commented:
“I’m pleased to partner with Penguin to expand our mining capacity to Paraguay. The Penguin team has done a tremendous job in constructing the site and building a strong local team. This agreement, structured as a partnership, will allow for better alignment of both parties than with a standard hosting arrangement. The partnership demonstrates our commitment to leveraging 100% clean energy to meet growing industry demand, efficiently”.
Björn Schmidtke, CEO at Penguin Group, commented:
“This strategic alliance with Northern Data Group strengthens our position as a leader in hosting next-generation High Performance Computing and also allows us to strengthen our capabilities and expand our offerings in cutting-edge areas such as AI compute. We are committed to advancing in this constantly accelerating world, which demands more high-quality services to keep evolving.”
About Peak Mining
Peak Mining, part of the Northern Data Group, is powering the future of the Bitcoin network. We deliver industry-leading operating and energy efficiency in Bitcoin mining through the latest hardware alongside innovative technology and HPC infrastructure. With our heritage dating back to 2013, we’ve been innovating for over a decade and have been at the forefront of the industry ever since. Our high-quality infrastructure is purpose-built to secure the Bitcoin network, and we’re driven to continuously find new efficiencies driving value for our investors. We’re delivering long term value in more responsible ways.
About Penguin
Penguin Group is at the forefront of HPC and cloud services powered by fully renewable hydro power in South America. Its core value is the mission to Transform Energy into Human Potential. This mission is achieved through Penguin Academy, a revolutionary education concept where students ‘learn by doing’ and has already trained thousands of young people to become the next generation of tech talent. Penguin aims to transform Paraguay into the Technological Hub of South America and expand their concept and mission globally.
About Northern Data Group
Northern Data Group (ETR: NB2) is a leading provider of High Performance Computing (HPC) solutions, utilizing GPU- and ASIC-technology. Our flexible compute power fuels innovation in our three core business platforms: Taiga Cloud, Ardent Data Centers, and Peak Mining. Through our HPC solutions, we pioneer ambitious computing innovation that drives progress in the AI, ML and Generative AI industries. Our close collaboration with industry-leading manufacturers including Gigabyte, AMD, and NVIDIA is fundamental to the acceleration of innovation across sectors including life sciences, financial services, and energy.  

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