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FloQast secures $100m to enhance accounting tech innovation.

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TLDR:

  • FloQast secures $100m in Series E funding, increasing market valuation to $1.6bn.
  • Funds will be used for research, development, and scaling operations globally.

Key Elements:

FloQast, a finance and accounting operations platform provider, has successfully concluded its Series E funding round, securing $100m. This funding, led by ICONIQ Growth, new investors BDT & MSD Partners, and WiL, along with existing stakeholders, aims to enhance the company’s market valuation to $1.6bn. FloQast specializes in refining and automating financial and accounting operations, aiming to streamline critical processes for increased efficiency and accuracy. The funds from the Series E round will primarily support research and development initiatives to enhance the technology stack and introduce innovative solutions to the market.

FloQast CEO Mike Whitmire expressed the company’s vision for accelerating financial transformation by automating routine tasks to empower finance and accounting teams globally. The company’s growth and innovation since its inception in 2013, with a client base of over 2,600 teams globally, demonstrate its effective solution-oriented approach.

The investment will also aid in scaling operations globally and leveraging advancements in artificial intelligence to improve current offerings and develop new ones. This strategic approach is expected to solidify FloQast’s role in transforming finance and accounting operations on a global scale.


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