Company News

Fueling Innovation: FloQast Announces Major Growth with Series C Funding

Today, I’m excited to announce our Series C round of funding, led by Norwest Venture Partners with continued support from Insight Partners and Polaris Partners. In addition to the investment, we’re pleased to welcome Sean Jacobsohn of Norwest to FloQast’s Board of Directors.

Back in 2012, we were just a couple of bright-eyed, bushy-tailed accountants trying to start a software company. In 2015 we brought our very simple product to market and, with the support of our customers, have been iterating on our core application ever since. 

As I reflect on the past eight years it’s truly amazing that we now have 150 team members, more than 800 clients, and, with the closing of this round, have now raised $93M of venture capital. Conversely, we’re now red-eyed and not so bushy-tailed. 🙂 This startup stuff is exhausting!

Our goal at FloQast from the outset has been to build a company for the long run. We believe two things will continue to set us up for long-term success:

  • Ongoing software innovation
  • World-class support

Our historical fundraising has put us in a fortunate financial position which enables us to invest in our core product and provide stellar customer service. With the latest $40M, we plan to continue that practice.

What’s most exciting about this round of funding is the additional product investment we will be making. The desire to expand our solution set further and help with all aspects of accounting was a huge driver in the decision to raise additional capital. With this capital, we remain committed to improving our core products while also building new product lines that you will see rolled out in 2020 and 2021.

Thank you to all of our clients for your support over the years. We feel honored to have you place your trust in us and cannot wait to deliver even more value to you.

Michael Whitmire

As CEO and Co-Founder, Mike leads FloQast’s corporate vision, strategy and execution. Prior to founding FloQast, he managed the accounting team at Cornerstone OnDemand, a SaaS company in Los Angeles. He began his career at Ernst & Young in Los Angeles where he performed public company audits, opening balance sheet audits, cash to GAAP restatements, compilation reviews, international reporting, merger and acquisition audits and SOX compliance testing. He holds a Bachelor’s degree in Accounting from Syracuse University.