FloQast Raises $100mn in Series E, Hits $1.6B Valuation
“FloQast can be a catalyst for accelerated financial transformation, starting with the automation of routine, repetitive tasks to empower finance and accounting teams to increase efficiency, enhance accuracy, and minimise compliance risks. This funding round will help that transformation become a reality for even more teams around the world.”
Since its founding in 2013, FloQast’s Accounting Operations Platform has been adopted by more than 2,600 teams globally.
Fresh funding is set to fuel FloQast’s continued research into and development of new solutions designed to improve existing workflows in the office of the controller, as well as short-term and long-term innovations powered by exciting developments in AI.
It will also drive continued growth and global expansion efforts, enabling the company to deliver even greater digital innovation and operational excellence within accounting and finance teams.
“We are excited to continue our partnership with FloQast as it further cements its status as a leading driver of transformation within the accounting and finance industry,” adds Roy Luo, General Partner, of ICONIQ Growth.
“FloQast’s mature organisational infrastructure, operational excellence and strategic vision for future growth is impressive, as is its remarkable momentum over recent years. The company’s recent introduction of innovative solutions and expansion into international markets present significant opportunities, and we look forward to contributing to FloQast’s continued success as it enters its next phase of development.”
FloQast recently attained US$100m in annual recurring revenue, an historic milestone showcasing robust growth and market leadership over the course of more than a decade of growth. Over the past year, FloQast achieved remarkable success, unveiling an array of accomplishments:
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