FloQast has raised $1.1 billion in funding, most recently completing a $100 million Series E at a $1.6 billion valuation. The company is backed by 15 investors, including ICONIQ Growth, WiL (World Innovation Lab), and 9Yards Capital. FloQast provides software that helps accounting teams close their books faster, more accurately, and more collaboratively. Keep reading for a look at FloQast’s funding journey and the investors driving its growth.
What Is FloQast?
Founded in 2013 by Cullen Zandstra and Mike Whitmire, and headquartered in Los Angeles, California, FloQast specializes in financial close management software. The platform integrates with systems such as QuickBooks, NetSuite, and SAP, providing tools for task management, reconciliation, documentation, and reporting. By automating repetitive tasks, FloQast enables teams to reduce errors and focus on higher-value work.
FloQast isn’t just software—it’s designed to improve collaboration and visibility across accounting teams. Managers can track progress in real-time, while team members can stay aligned on tasks and deadlines. With a workforce of 501–1,000 employees, FloQast supports over 2,600 accounting teams, including high-growth and enterprise clients, enabling them to close faster and work more efficiently.
The company combines practical accounting expertise with innovative technology, making complex financial processes simpler and more transparent. This focus on real-world impact has helped FloQast stand out in the accounting software space, attracting both enterprise clients and investors interested in solutions that improve operational efficiency.
How Much Funding Has FloQast Raised?
FloQast’s funding journey reflects steady growth and strategic scaling, with each round tied to specific milestones:
- Pre-Seed (Oct 2013): $50K – Led by Amplify. LA. This initial funding helped kickstart product development and validate the concept of a software solution for financial close management.
- Seed (Nov 2014): $1.3M – Led by Toba Capital. The round supported early team growth and accelerated product development, allowing FloQast to begin onboarding its first customers.
- Series A (Mar 2016): $6.5M – Led by Polaris Partners and Toba Capital. This funding focused on scaling operations and enhancing the platform to serve a growing customer base more effectively.
- Series B (Jun 2017): $25M – Led by Insight Partners. FloQast used this capital to expand its market presence, refine features, and further professionalize the platform for larger teams.
- Venture Round (Dec 2018): $20M – Details undisclosed; supported ongoing growth initiatives, including team expansion and infrastructure improvements.
- Series C (Jan 2020): $40M – Led by Norwest Venture Partners and focused on broadening product features and serving more enterprise clients, preparing FloQast for larger-scale adoption.
- Series D (Jul 2021): $110M – Led by Meritech Capital Partners. This round funded global expansion and investments in technology innovation to support large accounting teams.
- Series E (Apr 2024): $100M – Led by ICONIQ Growth, raising FloQast’s Valuation to $1.6 billion. The round aims to fuel global growth, integrate AI capabilities, and enhance operational efficiency across finance teams.
Total Raised: $352.8M
Latest Valuation: $1.6B
Key Investors
FloQast’s investors bring deep expertise and networks in software and technology:
- ICONIQ Growth – Growth equity firm investing in high-growth tech companies. Roy Luo joined FloQast’s board after leading Series E. Portfolio includes Snowflake, Datadog, and Zoom.
- Meritech Capital Partners – Late-stage investor with a history of supporting FloQast across multiple rounds. Portfolio includes Facebook, Salesforce, and Snowflake.
- Norwest Venture Partners – Global VC and growth equity firm with investments in Uber, Spotify, and BlueJeans. Helped FloQast scale operations and product capabilities.
- Insight Partners – Growth-stage investor with expertise in fast-growing software companies. Portfolio includes Twitter, Shopify, and Qualtrics.
- Polaris Partners – Early-stage VC in technology and healthcare, investing in LogMeIn, Akamai, and Ironwood Pharmaceuticals. Early involvement signaled confidence in FloQast’s vision.
These investors bring not only capital but also strategic guidance and industry connections, helping FloQast grow globally while continuing to innovate.
Where Is FloQast’s Headquarters?
FloQast is based in Los Angeles, California, a hub for technology and innovation. The location provides access to top talent, strategic partnerships, and a supportive startup ecosystem.
What’s Next for FloQast?
Looking ahead, FloQast is focused on global expansion and AI innovation. Its software continues to simplify month-end closes, helping teams reduce errors, improve collaboration, and save time.
The Series E funding will support feature development, deeper platform integrations, and expansion into international markets, including Australia, New Zealand, and the DACH region. Strategic partnerships with platforms like SAP S/4HANA Cloud will help FloQast strengthen its enterprise footprint.
Challenges remain, including staying ahead of competitors, ensuring the smooth adoption of new AI features, and managing regulatory requirements across different regions. Successfully navigating these will be key to maintaining FloQast’s competitive edge.
With strong investor support, a proven platform, and a growing global footprint, FloQast is well-positioned to continue transforming how accounting teams work—potentially paving the way for additional funding rounds or a future IPO.
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