How Much Did FloQast Raise? Headquarters, Funding & Key Investors

FloQast has raised a total of $292 million across multiple rounds, including a $50K Pre-Seed in 2013, $1.3M Seed in 2014, $6.5M Series A in 2016, $25M Series B in 2017, a $20M Venture Round in 2018, $40M Series C in 2020, $110M Series D in 2021, and a $100M Series E in April 2024 led by ICONIQ Growth at a $1.6 billion valuation. The funding has helped FloQast expand its cloud-based financial automation suite, enhance AI-driven capabilities, and strengthen its global footprint across accounting and finance technology markets.

How Much Did FloQast Raise? Funding & Key Investors

FloQast, founded in 2013 in Los Angeles by Cullen Zandstra and Mike Whitmire, is a finance and accounting technology company providing cloud-based financial close management and reconciliation solutions. Its platform integrates with ERP systems like QuickBooks, NetSuite, and SAP to automate month-end close processes, improve accuracy, and enhance collaboration. The company has raised $292M from investors including ICONIQ Growth and Meritech Capital Partners, achieving a $1.6B valuation in 2024. FloQast plans global expansion, AI-driven automation enhancements, and deeper enterprise ERP integrations.

What Is FloQast and What Does It Do?

FloQast, founded in 2013 by Cullen Zandstra and Mike Whitmire, is a Los Angeles-based (United States) finance and accounting technology company.

With a team of 518 employees, FloQast provides cloud-based financial close management and reconciliation solutions designed to automate and simplify the month-end close process for accounting teams.

Its suite includes tools like FloQast AutoRec, FloQast Close, FloQast Flux, and FloQast Analyze, integrating with ERP systems such as QuickBooks, NetSuite, and SAP. The platform enhances accuracy, reduces manual effort, and improves collaboration and visibility during financial reporting cycles.

How Much Funding Has FloQast Raised?

1. Pre-Seed Round

Amount Raised: $50 K
Date: October 2013
Lead Investors: Amplify.LA
Motivation: To kickstart product development.

2. Seed Round

Amount Raised: $1.3 M
Date: November 2014
Lead Investors: Toba Capital
Motivation: To expand the team and accelerate development.

3. Series A

Amount Raised: $6.5 M
Date: March 2016
Lead Investors: Polaris Partners, Toba Capital
Motivation: To scale operations and enhance platform capabilities.

4. Series B

Amount Raised: $25 M
Date: June 2017
Lead Investors: Insight Partners
Motivation: To drive market expansion and product innovation.

5. Venture Round

Amount Raised: $20 M
Date: December 2018
Motivation: To support ongoing growth initiatives.

6. Series C

Amount Raised: $40 M
Date: January 2020
Lead Investors: Norwest Venture Partners
Motivation: To enhance product features and grow the customer base.

7. Series D

Amount Raised: $110 M
Date: July 2021
Lead Investors: Meritech Capital Partners
Motivation: To accelerate global expansion and invest in new technologies.

8. Series E

Amount Raised: $100 M
Date: April 2024
Lead Investors: ICONIQ Growth
Motivation: To fuel global expansion, drive AI innovation, and enhance operational excellence.\

Total Funding Raised: $292 Million

Current Valuation: $1.6 Billion (as of April 2024)

Latest Funding Date: April 2024

Key Investors

1. ICONIQ Growth

Details: A growth-equity firm partnering with visionary founders; led FloQast’s Series E and added Roy Luo to its Board.
Investment Focus Areas: Technology, SaaS, and high-growth enterprise software.
Notable Investments: Snowflake, Datadog, Zoom.

2. Meritech Capital Partners

Details: Late-stage venture capital firm consistently backing FloQast since Series D.
Investment Focus Areas: Software, SaaS, cloud infrastructure.
Notable Investments: Facebook, Salesforce, Snowflake.

3. Norwest Venture Partners

Details: Global VC and growth-equity investor with a strong enterprise focus.
Investment Focus Areas: Technology, healthcare, consumer sectors.
Notable Investments: Uber, Spotify, BlueJeans.

4. Insight Partners

Details: Global PE and VC firm investing in growth-stage tech companies.
Investment Focus Areas: Software, SaaS, AI, analytics.
Notable Investments: Twitter, Shopify, Qualtrics.

5. Polaris Partners

Details: Venture capital firm active since early-stage rounds of FloQast.
Investment Focus Areas: Technology, healthcare, life sciences.
Notable Investments: LogMeIn, Akamai, Ironwood Pharmaceuticals.

Where Is FloQast’s Headquarters?

FloQast is headquartered in Los Angeles, California, one of the world’s fastest-growing tech hubs. The location provides access to a deep pool of finance and software talent, venture capital networks, and enterprise clients across North America, supporting its continued innovation in the accounting automation space.

What’s Next for FloQast?

FloQast plans to expand aggressively across Europe, Australia, and New Zealand, leveraging its AI-driven automation tools to serve over 2,600 accounting teams.

With annual recurring revenue exceeding $100 million, the company is focused on integrating more deeply with SAP S/4HANA Cloud and strengthening its presence in the enterprise accounting ecosystem. Continuous innovation in AI-enabled reconciliation and workflow optimization positions FloQast as a leader in next-generation financial close management software.

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