FloQast, a Finance and Accounting Operations Platform provider created by accountants for accountants, secures $100million in series E round funding. The round was led by ICONIQ Growth, with Roy Luo, representing ICONIQ Growth, joining FloQast’s Board of Directors.
BDT & MSD Partners and WiL (World Innovation Lab) also join as first-time investors, alongside the continued participation from board member Meritech Capital as well as Sapphire Ventures.
Read also – NYC-based Monad Labs Secures $225Million in Series A Round Funding
With this latest investment, it achieves a post-money valuation of $1.6 billion, underscoring its position as a leader in the accounting and finance technology sector. The company further emerges as a solution for countless organizations striving to transform finance and accounting operations for better insights to inform business strategy.
Mike Whitmire, CPA*, CEO and co-founder of FloQast said, “Today’s accounting and finance teams have the opportunity to emerge as drivers of growth and strategic change within their organizations, FloQast can be a catalyst for accelerated financial transformation, starting with the automation of routine, repetitive tasks to empower finance and accounting teams to increase efficiency, enhance accuracy, and minimize compliance risks. This funding round will help that transformation become a reality for even more teams around the world.”
Since its founding in 2013, it’s Accounting Operations Platform has been adopted by more than 2,600 teams globally. The new funding will fuel FloQast’s continued research and development of new solutions designed to improve existing workflows in the office of the controller, as well as short-term and long-term innovations powered by exciting developments in artificial intelligence.
It will also drive continued growth and global expansion efforts, enabling the company to deliver even greater digital innovation and operational excellence within accounting and finance teams.
Roy Luo, General Partner, of ICONIQ Growth said, “We are excited to continue our partnership with FloQast as it further cements its status as a leading driver of transformation within the accounting and finance industry, FloQast’s mature organizational infrastructure, operational excellence, and strategic vision for future growth is impressive, as is its remarkable momentum over recent years. The company’s recent introduction of innovative solutions and expansion into international markets present significant opportunities, and we look forward to contributing to FloQast’s continued success as it enters its next phase of development.”
About FloQast
FloQast, a Finance and Accounting Operations Platform provider created by accountants for accountants, enables organizations to operationalize accounting excellence. Trusted by more than 2,600 accounting teams – including Twilio, Los Angeles Lakers, Zoom, and Snowflake – it enhances the way accounting teams work, enabling customers to streamline and manage the Financial Close, Finance and Accounting Operations, and Compliance Programs.
