6-month merger update

Six months ago, we began an exciting journey with the acquisition of Device42, a leader in IT Discovery & Dependency Mapping. This move brought together two innovative companies to redefine how IT organizations operate and deliver value. Today, I am thrilled to share the progress we’ve made together and the impact our combined efforts have had on our customers, partners, and the broader market.

Record-breaking results

This past quarter marked a historic milestone for Freshworks and Device42. Q4 was our most successful quarter to date, with almost 3x net new annual recurring revenue (ARR) from our unification compared to Q3, and more than 2x from the same quarter a year ago.

Device42 also experienced its biggest quarter ever as a subsidiary, underscoring the strength of its solutions and the demand from customers for the unique capabilities. These results reflect the power of our combined vision and the exceptional execution and dedication of our teams.

Delivering value through integration

One of our top priorities since the merger has been to create tighter integration between Device24 and Freshservice to deliver a seamless and powerful set of solutions to our customers. In early December, we launched a major integration release—less than five months since the acquisition—that accelerates our ability to help customers in four key areas:

• Reducing IT costs: Streamlining operations and optimizing resources to help organizations achieve more with less.

• Increasing IT efficiency: Enhancing visibility and control across IT environments to drive productivity.

• Lowering risk: Strengthening security and compliance to protect critical assets.

• Enabling new business opportunities: Empowering organizations to innovate and scale with confidence.

Our teams are now fully aligned in our go-to-market strategy, allowing us to serve our global customer base more effectively. The collaboration between Freshworks and Device42 has not only improved the experience for existing customers but has also opened doors to new opportunities, partnerships, and market segments.

For example, New Balance, an existing Freshworks customer, is experiencing rapid growth and posted record-breaking sales in 2024. They are now implementing Freshservice Enterprise and Device42 to build a global online portal for all internal support needs.

Integrating Device42 for advanced asset management and CMBD will give New Balance an accurate view of their IT infrastructure across locations. AI-powered self-service capabilities, accessible through the portal, Microsoft Teams, and email, will empower associates with an intuitive, modern support experience.

Harnessing the power of AI

Innovation has always been at the heart of what we do, and broadening our AI capabilities across our solutions is a testament to that commitment. Customers can now use AI-powered tools to ask questions about their IT environment in plain English or the language of their choice and receive instant, actionable insights.

This game-changing capability empowers IT teams to make informed decisions faster, identify optimization opportunities, and proactively mitigate risks. Device42 is the foundation of this AI capability, as the AI system learns from the deep and wide hybrid IT data discovered, collected, normalized, categorized and enriched by Device42.

Looking ahead

For 2025 and beyond, we are energized by the possibilities ahead. The foundation we’ve built over the past six months is just the beginning. With our combined strengths, unwavering focus on customer success, and ongoing innovation, we are well-positioned to achieve even greater milestones in the coming year.

I sincerely thank our employees, partners, and customers for their support and trust throughout this journey. Together, we are shaping the future of IT, and I couldn’t be more excited for what lies ahead.

Here’s to an even more successful 2025!