In conversation with Freshworks Dennis Woodside; Meet SuperOps’ new VP of Sales

Hello,

A short seller that took aim at one of India’s biggest industry giants just called it quits. 

Hindenburg Research founder Nathan Anderson said he would disband the firm, whose reports wiped billions off market values of companies such as Adani Group and US-based Nikola, citing the “intense and all-encompassing” nature of the work as a factor.

All in a day’s work of challenging an empire. 

However, while Hindenburg’s days of betting against companies and releasing reports of corporate wrongdoings may be over, it seems Anderson is far from done with the cause, as he plans on open-sourcing his research methods over the next few months.

ICYMI: From wiping nearly $150 billion in market value to helping convict founders in investigations, Hindenburg has had a rollercoaster journey. 

Meanwhile, on the other side of the world, the US is set to bring down the shutters on TikTok, reportedly as early as Sunday. 

Barring a last minute intervention, US companies will no longer be allowed to provide services related to distribution, maintenance, or updating of the app, which is currently used by over 170 million people in the country. 

However, where there is a will, there is a way. In an act of defiance, TikTok “refugees” have lately been flocking en masse to Chinese app Xiaohongshu, also known as “Rednote”, sending it rocketing up to the top of the charts of the most downloaded apps on the Apple App Store. 

After all, on the internet, there are no borders. 

In today’s newsletter, we will talk about 

• In conversation with Freshworks Dennis Woodside
• Meet SuperOps’ new VP of Sales
• Indian startup funding since 2016

Here’s your trivia for today: Which author of children’s books wrote the screenplay for a James Bond film?

Interview

In conversation with Freshworks Dennis Woodside

Since grabbing the baton at Freshworks last year, Dennis Woodside has been racing toward an ambitious finish line: getting the Chennai-born software company to capitalise on the AI boom.

In this exclusive conversation with YourStory, Woodside shares his strategy for the Indian market, lessons from training with Girish, and why he believes AI will power Freshworks toward its billion-dollar goal.

The AI bet:

• Freshworks’ product strategy focuses on employee experience. “All our products now have AI embedded in them, focusing on the first-level agent experience. The [Freddy AI] Copilot makes agents more effective by proposing answers to questions and summarising conversations,” Woodside said. 
• At the end of Q3 FY24, Freshworks had over 1,700 paying customers for the AI Copilot, launched in mid-February last year. “So, that's a fast grant for a new product in the market; it just shows the built-in demand for AI,” he added. 
• Woodside said, “Approximately 45% of our revenue comes from the US, 40% from Europe, and 15% from other countries, of which India is one of the largest contributors. If not the largest, it has been a key market for us for a long time, given that we started here.”

Funding Alert

Startup: Impetus Technologies

Amount: $350M

Round: Equity

Startup: MicroMitti

Amount: Rs 90 Cr

Round: Undisclosed

Startup: AstroSure.ai

Amount: $6M

Round: Seed

SaaS

Meet SuperOps’ new VP of Sales

AI SaaS IT management platform SuperOps has appointed former Freshworks executive Javeeth Ahamed as VP of Sales. Javeeth previously served as senior sales director at Freshworks for over nine years, where he led SMB and commercial upmarket initiatives, led international teams, collaborated with partners, and contributed to the company’s transition from a startup to a post-IPO global player.

New joiner:

• Prior to joining Freshworks, Javeeth spent five years with the Tata Group, managing field sales.
• “I have long admired SuperOps' disruptive force in the managed services software market. Their platform-driven approach is truly innovative and addresses a critical need within the industry,” said Javeeth upon his joining SuperOps. 
• Founded in 2020 by Arvind Parthiban and Jayakumar Karumbasalam, SuperOps offers a unified PSA-RMM platform to simplify the IT management process and workflow of managed service providers.

Startup

Indian startup funding since 2016

Since the launch of the Startup India mission on January 16, 2016, which aims to transform India from a nation of job seekers to a country of job creators, Indian startups have raised around $131 billion in funding, according to YourStory Research, turning the country into an innovation powerhouse.

While the total funding raised in 2016 was $3.8 billion, it dramatically increased to $13.5 billion in 2017. This was the year when SoftBank turned on the tap and poured capital into companies including Flipkart, Ola, Paytm, and OYO, to name a few.

Key takeaways:

• A prominent change over the last nine years has been the ballooning number of deals. Since 2021, the number of deals each year has averaged over the 1,000 mark, an improvement from an average of 800 in the previous four years.
• Over the last nine years, startup funding touched a high of $32 billion in 2021 but never sunk below $10 billion, with an exception in 2020 when the pandemic dampened the total funding to $9.9 billion.
• As per the Startup India portal, this ecosystem has created more than 12.42 lakh jobs.

News & updates

• Credits: Google will buy carbon credits from Varaha, which turns large amounts of agricultural waste into biochar—a form of charcoal that removes carbon dioxide from the atmosphere and returns it to the soil. It is the tech giant’s first foray into India’s carbon dioxide removal sector.
• Layoffs: British oil major BP plans to cut 4,700 jobs as part of a major cost-reduction exercise. It will also reduce its contractor numbers by 3,000. The measures come after BP CEO Murray Auchincloss said last year that the company intends to deliver at least $2 billion of cash savings by the end of 2026.
• Shutdown: TikTok plans to shut its US operations on Sunday, when a federal ban is set to take effect, barring a last-minute reprieve. The Washington Post reported President-elect Donald Trump, whose term begins a day after a ban would start, is considering issuing an executive order to suspend enforcement of a shutdown for 60 to 90 days.

Which author of children’s books wrote the screenplay for a James Bond film?

Answer: Roald Dahl—For “You Only Live Twice”. 

We would love to hear from you! To let us know what you liked and disliked about our newsletter, please mail [email protected]. 

If you don’t already get this newsletter in your inbox, sign up here. For past editions of the YourStory Buzz, you can check our Daily Capsule page here.