Freshworks valued at $10.13 bln after raising $1.03 bln in U.S. IPO – source

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NEW YORK — Business software firm Freshworks, which counts Accel and Sequoia Capital among its major backers, on Tuesday priced its U.S. initial public offering (IPO) well above the target range to raise $1.03 billion, a source familiar with the matter said.

Freshworks priced 28.5 million shares at $36 per share, the source said, requesting anonymity as the talks are confidential. The IPO valued Freshworks at $10.13 billion.

(Reporting by Echo Wang in New York and Vishal Vivek in Bengaluru; Editing by Devika Syamnath)