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

FloQast has raised a total of $352.8 million across multiple funding rounds, most recently completing a $100 million Series E round at a valuation of $1.6 billion. Founded in 2013 and headquartered in Los Angeles, California, FloQast offers software that enables accounting teams to close their books faster, more accurately, and collaboratively. The company employs between 501 and 1,000 people and serves over 2,600 accounting teams globally.

What is FloQast and What Does It Do?

Founded by Cullen Zandstra and Mike Whitmire, FloQast is a financial close management platform that integrates with systems like QuickBooks, NetSuite, and SAP. It provides task management, reconciliation, documentation, and reporting tools. By automating repetitive tasks, FloQast enables accounting teams to reduce errors, enhance collaboration, and concentrate on higher-value work. The platform supports enterprise clients and high-growth teams, enabling faster, more efficient financial close processes.

How Much Funding Has FloQast Raised?

1. Pre-Seed (Oct 2013)
   • Amount Raised: $50K
   • Lead Investors: Amplify. LA
   • Motivation: Kickstart product development and validate the concept of financial close management software.
2. Seed (Nov 2014)
   • Amount Raised: $1.3M
   • Lead Investors: Toba Capital
   • Motivation: Support early team growth and accelerate product development, onboarding initial customers.
3. Series A (Mar 2016)
   • Amount Raised: $6.5M
   • Lead Investors: Polaris Partners, Toba Capital
   • Motivation: Scale operations and enhance the platform for a growing customer base.
4. Series B (Jun 2017)
   • Amount Raised: $25M
   • Lead Investors: Insight Partners
   • Motivation: Expand market presence, refine features, and professionalize the platform.
5. Venture Round (Dec 2018)
   • Amount Raised: $20M
   • Motivation: Support ongoing growth initiatives, team expansion, and infrastructure improvements.
6. Series C (Jan 2020)
   • Amount Raised: $40M
   • Lead Investors: Norwest Venture Partners
   • Motivation: Broaden product features and serve more enterprise clients.
7. Series D (Jul 2021)
   • Amount Raised: $110M
   • Lead Investors: Meritech Capital Partners
   • Motivation: Fund global expansion and invest in technology innovation.
8. Series E (Apr 2024)
   • Amount Raised: $100M
   • Lead Investors: ICONIQ Growth
   • Valuation at Round: $1.6B
   • Motivation: Fuel global growth, integrate AI capabilities, and enhance operational efficiency.

Total Funding Raised: $352.8M

Latest Funding Date: April 2024

Current Valuation: $1.6B

Key Investors

1. ICONIQ Growth
   • Details: Growth equity firm investing in high-growth technology companies.
   • Notable Investments: Snowflake, Datadog, Zoom
2. Meritech Capital Partners
   • Details: Late-stage investor supporting FloQast across multiple rounds.
   • Notable Investments: Facebook, Salesforce, Snowflake
3. Norwest Venture Partners
   • Details: Global VC and growth equity firm.
   • Notable Investments: Uber, Spotify, BlueJeans
4. Insight Partners
   • Details: Growth-stage investor with expertise in fast-growing software companies.
   • Notable Investments: Twitter, Shopify, Qualtrics
5. Polaris Partners
   • Details: Early-stage VC focused on technology and healthcare.
   • Notable Investments: LogMeIn, Akamai, Ironwood Pharmaceuticals

Where Is FloQast’s Headquarters?

FloQast is headquartered in Los Angeles, California, offering access to a diverse talent pool, strategic partnerships, and a thriving technology ecosystem.

What’s Next for FloQast?

FloQast is focused on global expansion, targeting markets such as Australia, New Zealand, and the DACH region, while integrating AI to further automate financial close processes and enhancing platform features through deeper system integrations.

Challenges include staying ahead of competitors, ensuring adoption of new AI capabilities, and navigating regulatory requirements across regions. With strong investor backing and a proven platform, FloQast is well-positioned for continued growth and potential future funding or an IPO.

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