Freshworks founder Girish Mathrubootham to exit firm, stepping down as executive chairman 4 years after IPO

Girish Mathrubootham

Girish Mathrubootham, the founder who led Freshworks from its inception in 2010 to its IPO in 2021, announced he will step down as executive chairman effective December 1, 2025, marking his exit from the firm.

His departure signals a significant transition for one of India’s most prominent SaaS (software as a service) companies, just four years after going public in the US, and underscores the challenges founder-led companies face in evolving beyond their original architects as he shifts his focus to his venture fund, Together.

Freshworks disclosed the development in an 8-K filing with the U.S. Securities and Exchange Commission (SEC).

“On September 3, 2025, Rathna Girish Mathrubootham provided notice to Freshworks Inc. (the “Company”) that he will retire from his roles as Executive Chairman, a Class III member of the Company’s Board of Directors (the “Board”), and Chairman of the Board effective December 1, 2025, in order to devote his full-time efforts to Together Fund, the venture fund he co-founded.”

“Following such notice, the Board appointed Roxanne Austin, Lead Independent Director, to serve as Chairperson of the Board beginning December 1, 2025. Ms. Austin has served as a member of our board of directors and as lead independent director since May 2021,” the filing said.

Further, Mathrubootham will work with Austin to facilitate a smooth transition of Board leadership.
“Mr. Mathrubootham’s resignation was not the result of any disagreement on matters relating to the Company’s operations, policies, or practices. Effective December 1, 2025, the size of the Board will be reduced to nine members and the total number of Class III directors will be reduced to two members,” the filing added.

End of an era

Mathrubootham’s exit marks the end of an era for one of India’s most prominent SaaS founders and angel investors.

A former executive of Zoho, he started up Freshworks in 2010, leading the company to its Nasdaq listing in 2021.

Just three years later, in September 2024, he stepped down as the company’s CEO and transitioned to the executive chairman role, with Dennis Woodside taking over the reins.

In a candid interview with Moneycontrol then, Mathrubootham had said that he will focus more on AI strategy and the long-term vision of Freshworks.

"I’m excited about this transition because I have always believed in optimising for people to play to their strength. I’m a product manager at heart, and with AI being transformative across the industry, I think this is the right time for Freshworks to undergo this transition”, he had said, ruling out plans to completely exit.

But in the last year, he has spent more time in Chennai, and with his venture fund Together, where he is backing the next wave of SaaS firms, as the industry undergoes a shift because of AI.

Since founding the startup in 2010, Mathrubootham has been a key force for Freshworks to move from a small startup in Chennai into a Nasdaq-listed software firm in the US. Apart from being a storied founder, he is also credited with building and mentoring the next generation of SaaS startups from Chennai, through initiatives such as SaasBoomi and the Together Fund.

Mathrubootham still owns approximately 4.28% of Freshworks Inc. His stake decreased from about 5% following a sale of 2.5 million shares in December 2024, valued at approximately $40 million.

Freshworks under Woodside

Nasdaq-listed Freshworks recently raised its full-year 2025 revenue and profit forecast for the second consecutive quarter, following an 18% year-over-year jump in revenue to $204.7 million for the three months ended June 30, driven by AI-driven demand.

The San Mateo and Chennai-headquartered software company now expects full-year revenue between $822.9 million and $828.9 million, implying 14–15% growth. This is higher than its previous forecast of $815.3 million–$824.3 million issued in the previous quarter.

Freshworks’ artificial intelligence offerings, Freddy AI Copilot and Freddy AI Agent, have crossed $20 million in combined annual recurring revenue (ARR), reflecting rising demand from enterprise and SMB (small and medium business) customers for AI-powered service automation tools.