Founded in Chennai, India, in 2010, Business software firm Freshworks said it had priced its US initial public offering well above the target range to raise $1.03 billion, valuing the Salesforce.com rival at $10.13 billion as hybrid work fuels demand its products.

Freshworks priced 28.5 million shares at $36 per share, the company backed by Accel and Sequoia Capital said on Tuesday. It had earlier expected to raise $969 million at the top end of its increased price range of $32 to $34 per share.