FloQast Series D Momentum Carries into Q3 with Revenue and Customer Growth

Oct 27, 2021 | By GlobeNewswire

LOS ANGELES, Oct. 27, 2021 (GLOBE NEWSWIRE) -- FloQast, a provider of accounting workflow automation software created by accountants for accountants, announced today the results of a strong Q3, continuing momentum generated by July’s $119 million Series D funding led by Meritech Capital. The company reported a 96% year-over-year growth rate in annual recurring revenue for the quarter as well as a 94% renewal rate. With more than 1,500 customers globally, FloQast added more than 135 new customers in Q3, including Revolut, Hopin, Templafy, Gainsight, Credit Sesame, and Vision Solar.

“FloQast’s continued growth in Q3 confirms our core belief that accounting operational excellence begins with transforming the month-end close,” said Mike Whitmire, CPA*, co-founder and CEO at FloQast. “More organizations are embracing this change and partnering with FloQast to improve accounting transparency, run at a faster pace, and ultimately, elevate their performance. We’re excited to see even more adoption on this front in Q4 and beyond.”

Over the course of the quarter, FloQast experienced milestones in several other key areas:

  • The receipt of 35 G2 badges, an increase from Q2. Badges include:
    • #1 Leader in the G2 Momentum Grid, as well as the winner of the Fall Leader, Users Love Us, High Performer in Enterprise, and a Leader in Mid Market.
  • The hosting of TakeControl 2021 in September, FloQast’s third-annual user conference, drawing more than 2,000 industry professionals and recognizing world-class accounting professionals and FloQast customers excelling in their pursuit of operational excellence.
  • The launch of FloQast Ops, a new workflow manager solution that addresses upstream financial functions such as Accounts Payable, Sales and Use Tax, and Accounts Receivable along with downstream functions like Compliance, Reporting, and FP&A to deliver greater control and transparency across accounting operations.

About FloQast
FloQast delivers workflow automation software enabling organizations to operationalize accounting excellence. Trusted by more than 1,500 accounting teams – including Twilio, CoinBase, Los Angeles Lakers, Zoom, and SnowFlake – FloQast was built by accountants, for accountants to enhance the way accounting teams work. FloQast enables customers to streamline processes such as automated reconciliations, documentation requests, and other workflows that impact the month-end close, financial reporting, and payroll, and is consistently rated #1 across all user review sites. Learn more at FloQast.com.

Contact:
Sammy Totah
BOCA Communications for FloQast
floqast@bocacommunications.com