Accounting

L.A. is the Place to Be for Tech Startups

Jan 26, 2018 | By Blake Oliver

Silicon Valley’s monopoly on tech has been broken.

We can say that with authority because we’re a software startup in the Valley — the San Fernando Valley, that is.

Previously known more for Valley girls than for startups, the SFV and the 818 have been FloQast’s home for three years, and we couldn’t imagine it any other way.

The Valley is Changing

Once an endless sea of strip malls and single family homes —

Well, it still is, but there are parts that are very nice. We’ve got a Top Chef restaurant and some fantastic craft breweries (here’s one). And hey, you can just about always find parking.

The point is, L.A.’s Valley isn’t just the butt of jokes these days. It’s a great place to live and work, and has culture, too. We’re also proud to be a part of the City of Los Angeles, which also happens to be a leading global startup city, coming in ahead of Seattle, Austin, and Chicago.

Sorry, Seattleites.

G2 Crowd graph

Timeline via G2Crowd (Note: Only software vendors on G2 Crowd with headquarters currently in the Los Angeles area are included in graph.)

Los Angeles has a vibrant tech scene with plenty of startups, and we’re proud to have been ranked recently with some of the best.

Our users won’t be surprised to hear that we’re ranked #5 on G2Crowd’s 2017 list of the Top B2B LA Tech in 2018. The list is ordered by the user satisfaction of each company’s top-rated product.

Excellent customer service, ease of use, and product innovation are core values for us at FloQast, so it's great to see that our customers recognize these.

We’re also pleased to be listed on Built In LA's 50 Startups to Watch in 2018. The criteria: A company must be less than five years old, and Built in LA must believe that it will make a significant impact on tech in the next twelve months.

We’re in good company: Our fellow L.A. startup Clutter just closed a $64 million Series C in June (around the same time we raised $25 million for our Series B). They’re working to reinvent self-storage and moving.

G2 Crowd Badge

Then there’s Hyperloop One, which is super cool because who doesn’t like the idea of traveling on a train through a vacuum tube at an average speed of 600 miles per hour, even faster than an airplane?

We’re also intrigued by Ordermark, launched out of the famous Canter’s Deli in the Fairfax District of Hollywood. They’ve built a hardware platform for small restaurants that combines half-a-dozen food ordering app tablets into a single device, freeing up a bunch of counter space and making sure whoever is working the register stays sane.

As for us here at FloQast, we’re a bunch of former accountants who make close management software for accountants so they can close their books faster and more accurately.

It’s not sexy, but it’s a game changer for our customers, who are hundreds of financial controllers and CFOs in growing and midsize businesses all over the country and increasingly, in other countries too. We give them and their teams back an average of three days every month. That’s three days per person.

We’re basically the opposite of the glitz and glamor of Hollywood, and that’s OK with us.

L.A.’s Tech Scene has Matured

It’s a sign that L.A.’s tech scene has matured to the point where L.A. startups don’t need to have anything to do with entertainment.

We can just be ourselves, building revolutionary technology that’s going to dramatically change whatever industry or profession we serve. In our case, it’s accounting. We’re aiming to revitalize the profession. And we’re planning to make Los Angeles and the San Fernando Valley proud while we do it.

Learn more about FloQast and how we're changing the landscape of financial close management, and drop us a line on Twitter at @FloQast. Thanks for reading!

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Blake Oliver
Blake Oliver, CPA, is an entrepreneur, accountant, writer, and speaker who specializes in cloud accounting technology. In 2016 and 2017, Blake was named a “40 Under 40” in the accounting profession by CPA Practice Advisor. He is the Senior Product Marketing Manager for FloQast.

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