chennai softwareasaservice saas firm freshworks said on monday that it aims to raise up to 912 million from its upcoming initial public offering ipo in the usfounded in chennai the customer relationship management software maker amended its prospectus on monday to state that it plans to sell more than 28 million shares at a price range of 2832 each this translates into 912 million being raised at the top end we estimate that our net proceeds from the sale of our classa common stock that we are offering will be approximately 804 millionassuming an initial public offering price of 30 per share the midpoint of the estimated price range set forth on the cover page of this prospectus freshworks said in its updated regulatory filingas of the date of this prospectus we cannot specify with certainty all of the particular uses for the net proceeds to us from this offering however we currently intend to use the net proceeds we receive from this offering for general corporate purposes including working capital operating expenses and capital expenditures we may also use a portion of the net proceeds to acquire complementary businesses products services or technologies the company addedwhen it originally filed its ipo paperwork in august the company hadnt disclosed the amount it was setting out to raise freshworks was last valued at around 35 billion in its funding round in 2019 a report by reuters projects that the ipo would value the company at around 9 billionthe company also said that 5 of the classa common stock to be issued is reserved for certain individuals including family members of our officers or other employees and certain other individuals associated with us as part of a directed share programme the company has reported a 53 surge in revenue for the six months ended june 30 it earned 1689 million in revenue for the six months ended june 30 this year up from 1105 million in the same period last year net losses have also shrunk and came in at 98 million for the same period down nearly 83 from a year earlier freshworks now has around 52500 customers and it is backed by investors including accel sequoia capital and tiger global management