Freshworks Partners with McLaren Racing to Enhance IT Operations in Formula 1

Freshworks partners with McLaren Racing, enhancing IT efficiency with Freshservice to improve operational performance during races.

Quiver AI Summary

Freshworks announced a multi-year partnership with McLaren Racing to become an Official Partner of the McLaren Formula 1 Team. As part of this collaboration, McLaren has implemented Freshworks' IT service management solution, Freshservice, to streamline IT operations and enhance productivity during the busy race season. The integration of Freshservice allows the team to efficiently manage global IT requests, reducing complexity and supporting a swift resolution of technical issues. Freshworks' branding will be displayed on McLaren's race cars and team kit for the remainder of the 2025 season. Both companies highlighted the importance of improving off-track efficiencies to boost on-track performance, with Freshworks providing AI-driven solutions to enhance McLaren's IT capabilities.

Potential Positives

Freshworks has established a multi-year partnership with McLaren Racing, enhancing its visibility and credibility in the high-profile Formula 1 industry.
The integration of Freshworks' ITSM solution, Freshservice, within McLaren's operations showcases the effectiveness of its technology in improving productivity and operational efficiency.
Branding on McLaren's race cars and team kit provides substantial marketing exposure, potentially attracting new customers and increasing brand recognition.
The partnership aligns Freshworks with a renowned and successful team in motorsports, which could enhance its reputation and attract potential partners or clients in other industries.

Potential Negatives

Dependence on a single high-profile partnership may raise concerns about the company's ability to maintain diversified revenue streams.
The announcement may lead to scrutiny regarding the effectiveness of Freshservice and its value proposition, particularly in a competitive market with numerous IT service management solutions.
Failure to demonstrate tangible results from the partnership with McLaren could damage Freshworks' reputation and investor confidence in their products.

FAQ

What partnership did Freshworks announce recently?

Freshworks announced a multi-year partnership with McLaren Racing as an Official Partner of the McLaren Formula 1 Team.

How is Freshservice being used by McLaren Racing?

McLaren Racing is using Freshservice to enhance productivity and improve IT services across its global operations.

What benefits does Freshservice provide to McLaren's IT team?

Freshservice helps McLaren's IT team reduce tech issues, streamline operations, and deliver services more efficiently during the race season.

When will Freshworks branding appear on McLaren's team?

Freshworks branding will appear on McLaren's race cars and team kit for the remainder of the 2025 season, starting with the Belgian Grand Prix.

What is McLaren Racing's commitment to sustainability?

McLaren Racing is committed to achieving net zero by 2040 and promoting sustainability and diversity in motorsport.

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 39 times in the past 6 months. Of those trades, 0 have been purchases and 39 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.
ZACHARY NELSON has made 0 purchases and 5 sales selling 42,183 shares for an estimated $666,755.
JOHANNA FLOWER has made 0 purchases and 5 sales selling 35,410 shares for an estimated $604,182.
JENNIFER H TAYLOR has made 0 purchases and 7 sales selling 35,683 shares for an estimated $538,292.
ROXANNE S AUSTIN has made 0 purchases and 4 sales selling 25,207 shares for an estimated $376,212.
MIKA YAMAMOTO (CHIEF CUST & MARKETING OFFICER) has made 0 purchases and 8 sales selling 23,209 shares for an estimated $360,753.
BARRY L. PADGETT has made 0 purchases and 7 sales selling 12,248 shares for an estimated $187,256.

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

$FRSH Hedge Fund Activity

We have seen 167 institutional investors add shares of $FRSH stock to their portfolio, and 130 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

WFM ASIA (BVI) LTD removed 6,668,297 shares (-90.5%) from their portfolio in Q1 2025, for an estimated $94,089,670
TPG GP A, LLC removed 4,346,855 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $61,334,124
WELLINGTON MANAGEMENT GROUP LLP added 3,459,434 shares (+inf%) to their portfolio in Q1 2025, for an estimated $48,812,613
DRIEHAUS CAPITAL MANAGEMENT LLC added 2,426,030 shares (+inf%) to their portfolio in Q1 2025, for an estimated $34,231,283
HOLOCENE ADVISORS, LP removed 2,425,953 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $34,230,196
PEAK XV PARTNERS OPERATIONS LLC removed 1,912,153 shares (-14.0%) from their portfolio in Q1 2025, for an estimated $26,980,478
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP added 1,566,329 shares (+41.2%) to their portfolio in Q1 2025, for an estimated $22,100,902

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$FRSH Analyst Ratings

Wall Street analysts have issued reports on $FRSH in the last several months. We have seen 7 firms issue buy ratings on the stock, and 1 firms issue sell ratings.

Here are some recent analyst ratings:

Cantor Fitzgerald issued a "Overweight" rating on 06/03/2025
UBS issued a "Buy" rating on 05/02/2025
Wells Fargo issued a "Underweight" rating on 04/30/2025
JMP Securities issued a "Market Outperform" rating on 04/30/2025
Piper Sandler issued a "Overweight" rating on 04/30/2025
Oppenheimer issued a "Outperform" rating on 04/09/2025
Needham issued a "Buy" rating on 03/17/2025

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 13 analysts offer price targets for $FRSH in the last 6 months, with a median target of $20.0.

Here are some recent targets:

Matthew Vanvliet from Cantor Fitzgerald set a target price of $20.0 on 06/03/2025
Taylor McGinnis from UBS set a target price of $19.0 on 05/02/2025
Elizabeth Porter from Morgan Stanley set a target price of $18.0 on 05/01/2025
Nick Altmann from Scotiabank set a target price of $18.0 on 04/30/2025
Michael Berg from Wells Fargo set a target price of $12.0 on 04/30/2025
Patrick Walravens from JMP Securities set a target price of $27.0 on 04/30/2025
Brent Bracelin from Piper Sandler set a target price of $22.0 on 04/30/2025

Full Release

SAN MATEO, Calif., July 22, 2025 (GLOBE NEWSWIRE) -- Freshworks (NASDAQ: FRSH), today announced a multi-year partnership with McLaren Racing, joining as an Official Partner of the McLaren Formula 1 Team. McLaren has integrated Freshworks' ITSM solution, Freshservice , to boost productivity through more efficient and improved IT services within the team.

With AI-powered Freshservice, the McLaren Formula 1 Team is able to ensure its global IT operations run smoothly by addressing service requests quickly and seamlessly, even when spread across the globe during a busy race season – eliminating complexity and driving operational efficiencies across all aspects of the team.

Freshservice supports McLaren’s IT team to reduce tech-based issues so the team can maximise its efforts on performance on the track. Efficient and uncomplicated processes reduce friction and allow the team to resolve issues and deliver services faster.

Freshworks branding will feature on both McLaren Formula 1 Team race cars and the team kit for the remainder of the 2025 season and beyond – starting with this weekend’s Belgian Grand Prix.

Zak Brown, CEO, McLaren Racing, said, “Boosting our efficiencies off the track is a key factor in improving our performance on it. With industry-leading partners such as Freshworks, we’re able to do just that, and I’m delighted to welcome them to the team.”

Dennis Woodside, CEO, Freshworks, said, "We partner with McLaren Racing to optimize their IT operations, enhancing their critical support for winning performance. Our enterprise-grade solutions are designed for ease of implementation, use, and configuration, accelerating McLaren IT's capabilities with AI. We’re proud to deliver intuitive software that directly supports their mission to eliminate complexity on and off the track."

About McLaren Racing
McLaren Racing was founded by racing driver Bruce McLaren in 1963. The team entered its first Formula 1 race in 1966. McLaren has since won 21 Formula 1 world championships, 198 Formula 1 Grands Prix, the Indianapolis 500 three times, and the Le Mans 24 Hours at its first attempt.

McLaren Racing competes across five racing series. The team competes in the FIA Formula 1 World Championship with McLaren F1 drivers Lando Norris and Oscar Piastri, the NTT INDYCAR SERIES with Arrow McLaren drivers Pato O’Ward, Nolan Siegel and Christian Lundgaard, the ABB FIA Formula E World Championship as the NEOM McLaren Formula E Team with drivers Sam Bird and Taylor Barnard, and F1 Academy with Driver Development programme member Ella Lloyd. The team also competes in the F1 Sim Racing Championship as McLaren Shadow.

McLaren is a champion for sustainability in the sport and a signatory to the UN Sports for Climate Action Commitment. It is committed to achieving net zero by 2040 and fostering a diverse and inclusive culture in the motorsport industry.

McLaren Racing – Official Website

About Freshworks
Freshworks Inc. (NASDAQ: FRSH) 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. Over 73,000 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 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.

Contact:
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A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1f8ae376-f8e6-47ec-b190-055fd8b4bcb9