Freshworks Inc. Launches Freshservice for Business Teams as Standalone Solution to Enhance Employee Experience Across Non-IT Departments

Freshworks has launched Freshservice for Business Teams as a standalone product, enhancing service delivery across non-IT departments.

Quiver AI Summary

Freshworks Inc. has launched Freshservice for Business Teams as a standalone product, allowing non-IT departments like HR, Finance, and Legal to streamline their processes without needing an existing IT Service Management implementation. This change is intended to improve service delivery and employee experiences, addressing the challenges faced by business leaders when using tools not designed for their specific needs. The product has seen significant growth, doubling its annual recurring revenue to over $35 million, and is increasingly adopted across various functions, with notable clients like the University of Oxford and Databricks reporting efficiency gains and reduced costs. Features such as AI support, prebuilt templates, and seamless integrations enable quick deployment and enhanced employee services, making it a compelling alternative to traditional IT solutions.

Potential Positives

Freshservice for Business Teams is now available as a standalone product, broadening its market reach and providing businesses with more options for service delivery.
The product has seen a significant increase in annual recurring revenue, doubling to over $35 million in just one year, indicating strong market demand.
Enhanced capabilities, such as People-First AI, allow non-IT departments to automate processes, improving efficiency and customer experience.
Positive endorsements from existing users like Databricks and Coherent illustrate the product's effectiveness and integration potential across various departments.

Potential Negatives

The announcement may indicate that Freshworks previously required ITSM implementation for Freshservice, which could suggest that earlier offerings were not fully accessible or user-friendly for non-IT departments.
The press release highlights a need for improved employee experiences, which may imply prior shortcomings in the company's offerings or recognition of competitive pressures in the market.
The mention of looking to streamline processes and reduce complexity without customization suggests potential complexity in existing solutions that may have hindered user adoption.

FAQ

What is Freshservice for Business Teams?

Freshservice for Business Teams is a standalone product designed to streamline service delivery for non-IT departments like HR and Finance.

How does Freshservice benefit non-IT departments?

The product enables non-IT workers to create support environments, streamlining processes and enhancing personalized employee experiences across various teams.

What are the key features of Freshservice?

Key features include People-First AI, unified service delivery, prebuilt workflows, and seamless integrations with popular tools like ADP and Microsoft Teams.

How can Freshservice improve employee experience?

Freshservice simplifies onboarding and offboarding processes, accelerates ticket resolutions, and enhances overall employee support and engagement through efficient workflows.

Why choose Freshservice over traditional IT solutions?

Freshservice offers a cost-effective alternative to complex IT suites with its user-friendly interface, rapid deployment, and powerful AI capabilities tailored for various departments.

Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.

$FRSH Insider Trading Activity

$FRSH insiders have traded $FRSH stock on the open market 28 times in the past 6 months. Of those trades, 0 have been purchases and 28 have been sales.

Here’s a breakdown of recent trading of $FRSH stock by insiders over the last 6 months:

RATHNAGIRISH MATHRUBOOTHAM (EXECUTIVE CHAIRMAN) has made 0 purchases and 3 sales selling 130,183 shares for an estimated $2,083,637.
JENNIFER H TAYLOR has made 0 purchases and 6 sales selling 30,993 shares for an estimated $447,551.
ZACHARY NELSON has made 0 purchases and 3 sales selling 25,298 shares for an estimated $345,318.
MIKA YAMAMOTO (CHIEF CUST & MARKETING OFFICER) has made 0 purchases and 6 sales selling 18,921 shares for an estimated $267,562.
JOHANNA FLOWER has made 0 purchases and 2 sales selling 11,810 shares for an estimated $179,360.
BARRY L. PADGETT has made 0 purchases and 5 sales selling 10,683 shares for an estimated $158,433.
ROXANNE S AUSTIN sold 6,303 shares for an estimated $92,969
PHILIPPA LAWRENCE (Chief Accounting Officer) has made 0 purchases and 2 sales selling 3,456 shares for an estimated $42,368.

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

$FRSH Hedge Fund Activity

We have seen 178 institutional investors add shares of $FRSH stock to their portfolio, and 144 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

DRIEHAUS CAPITAL MANAGEMENT LLC removed 2,426,030 shares (-100.0%) from their portfolio in Q2 2025, for an estimated $36,172,107
EMINENCE CAPITAL, LP added 2,074,641 shares (+39.4%) to their portfolio in Q2 2025, for an estimated $30,932,897
NORGES BANK removed 1,873,323 shares (-52.7%) from their portfolio in Q2 2025, for an estimated $27,931,245
ARTISAN PARTNERS LIMITED PARTNERSHIP removed 1,853,143 shares (-100.0%) from their portfolio in Q2 2025, for an estimated $27,630,362
SQUAREPOINT OPS LLC added 1,423,391 shares (+345.1%) to their portfolio in Q2 2025, for an estimated $21,222,759
J. GOLDMAN & CO LP removed 1,251,141 shares (-100.0%) from their portfolio in Q2 2025, for an estimated $18,654,512
CITADEL ADVISORS LLC removed 1,210,292 shares (-59.8%) from their portfolio in Q2 2025, for an estimated $18,045,453

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

$FRSH Analyst Ratings

Wall Street analysts have issued reports on $FRSH in the last several months. We have seen 4 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

Needham issued a "Buy" rating on 09/12/2025
JMP Securities issued a "Market Outperform" rating on 09/12/2025
Piper Sandler issued a "Overweight" rating on 07/30/2025
Cantor Fitzgerald issued a "Overweight" rating on 06/03/2025

To track analyst ratings and price targets for $FRSH, check out Quiver Quantitative's $FRSH forecast page.

$FRSH Price Targets

Multiple analysts have issued price targets for $FRSH recently. We have seen 7 analysts offer price targets for $FRSH in the last 6 months, with a median target of $20.0.

Here are some recent targets:

Ryan Macwilliams from Wells Fargo set a target price of $13.0 on 10/01/2025
Rob Oliver from Baird set a target price of $16.0 on 09/15/2025
Elizabeth Porter from Morgan Stanley set a target price of $16.0 on 09/12/2025
Scott Berg from Needham set a target price of $25.0 on 09/12/2025
Patrick Walravens from JMP Securities set a target price of $27.0 on 09/12/2025
Brent Bracelin from Piper Sandler set a target price of $25.0 on 07/30/2025
Matthew Vanvliet from Cantor Fitzgerald set a target price of $20.0 on 06/03/2025

Full Release

SAN MATEO, Calif., Nov. 05, 2025 (GLOBE NEWSWIRE) -- Freshworks Inc. (NASDAQ: FRSH) , today announced that Freshservice for Business Teams is now available as a standalone product, no longer requiring an existing Freshservice IT Service Management (ITSM) implementation. The move provides businesses more options to accelerate uninterrupted service delivery to HR, Finance, Legal and other teams, allowing non-IT departments to streamline complex processes and deliver consistent, personalized employee experiences.

According to the latest Freshservice Benchmark Report , the enterprise service management (ESM) solution’s reach is rapidly expanding into other functions, with one out of four eligible Freshservice ITSM customers utilizing Freshservice for Business Teams. The product has doubled its annual recurring revenue in the past year, reaching over $35 million as of September 30, 2025.

"Business leaders need to move fast, but keep getting stuck with tools that were never designed for departments like HR, Finance or Legal. That friction slows growth and is especially true with cross-functional work,” said Srini Raghavan, Chief Product Officer at Freshworks. “Now businesses have another option. Enabling non-IT workers to create their own support environments is a force multiplier that can benefit the entire organization by enabling workers closest to business processes to create the employee experiences they want and need.”

Key benefits of Freshservice for Business Teams for all departments include:

People-First AI for Business Teams
Non-IT functions can use AI to accelerate ticket resolutions and improve efficiency by automating key processes like account verification, or retrieving necessary documents to fulfill requests. AI can further support agents by generating quality responses, summaries and balancing workloads. University of Oxford chose Freshservice and Freddy Copilot for its simplicity and ability to scale with the university's ITSM needs across IT, finance and HR teams.

Unified Service Delivery
Capabilities were built to connect fragmented tools, data, and workflows, to help organizations scale service delivery to other departments efficiently. Databricks , for example, achieved a 23% deflection rate after implementing self-service and expanded deployment of Freshservice to eight other departments, including HR, Legal, and Learning and Development. Pradeep Singh, VP of Infrastructure and Operations at Databricks, said, “Consolidating from 10 different platforms down to a single intuitive one has not only improved employee experience, it has saved us a significant amount of money.”

Rapid Impact for HR and Employee Support
Journeys , prebuilt Workspaces , and workflow templates simplify complex processes like employee onboarding and offboarding, accelerating adoption without the need for heavy customization or building from the ground up. Without having to design and map each workflow from scratch, Coherent , with 25,000 employees, uses the platform to support HR-related needs and requests. In addition to improving the new-hire experience, Freshservice simplified employee offboarding by bringing HR compliance data under one roof. Anantha Ganga, CIO of Coherent, said, “We're excited to integrate Freshservice with even more systems. Our ultimate goal is to create a ‘one-stop shop’ for the employee experience. Freshservice will remain a central component of our strategy for achieving this.”

Seamless Configuration for Fast Deployment
The intuitive UI and no-code automation empower teams without technical resources to launch secure employee service portals. Built-in data protection, governance, delegated administration, and cross-functional integrations with ADP, DocuSign, Microsoft Teams, Slack, Bamboo HR and Workday reduce the complexity of launching and maintaining services. EDF Renewables chose Freshservice because of its ease of use, seamless integrations, and codeless customization. They are leveraging workspaces within Freshservice to manage departments outside of IT, such as facilities, ensuring each department has a tailored environment to operate in.

Freshservice for Business Teams provides a superior alternative to costly IT suites or limited HR tools, offering powerful orchestration, enterprise grade AI capabilities, fast time-to-value, and low total cost of ownership. It helps non-IT departments rapidly change slow, fragmented processes into unified employee experiences with AI capabilities that put people-first.

“Improved employee experiences are one of the top priorities for organizations these days, as are related goals like improved resolution times for requests and issues.” said Snow Tempest, Research Manager at IDC. “For organizations seeking to streamline their processes and reduce complexity without extensive customization requirements, there is a demand for a product that can be deployed quickly to meet the needs of multiple departments.”

To learn more about Freshservice for Business Teams , or how its modern, AI-powered employee-service solutions can increase efficiency and improve engagement for your business, visit www.freshworks.com.

About Freshworks
Freshworks Inc. builds uncomplicated service software that delivers exceptional customer and employee experiences. Our enterprise-grade solutions are powerful, yet easy to use, and quick to deliver results. Our people-first approach to AI eliminates friction, making employees more effective and organizations more productive. Nearly 75,000 companies, including Bridgestone, New Balance, Nucor, S&P Global, and Sony Music, trust Freshworks’ customer experience (CX) and employee experience (EX) software to fuel customer loyalty and service efficiency. For the latest company news and customer stories, visit www.freshworks.com and follow us on Facebook , LinkedIn , and X .

© 2025 Freshworks Inc. All Rights Reserved. Freshworks, Freshservice, Freshservice for Business Teams and any associated logo are trademarks of Freshworks Inc. All other company, brand and product names may be trademarks or registered trademarks of their respective companies. Nothing in this press release should be construed to the contrary, or as an approval, endorsement or sponsorship by any third parties of Freshworks Inc. or any aspect of this press release.

Kevin Cheng
Contact: [email protected]