FloQast closes Series B on $25m to help global expansion

California-based FloQast has closed its Series B funding round on $25m, which will help the company expand globally.

This round was led by Insight Venture Partners, who were joined be current investors Toba Capital and Polaris Partners.

The company is a close management software platform to help accountants’ close books faster and more accurately.

Over the past eight quarters the firm has grown revenue 40 per cent each quarter.

Proceeds from the funding round will be used to continue product innovation, move into new overseas marketplaces and scaling the company’s ‘go-to-market’ capabilities.

CPA co-founder and CEO FloQast Michael Whitmire said, “FloQast has built a robust business, helping accounting teams close faster and more accurately.

“This new funding will help further accelerate our growth by enabling the Company to expand internationally and grow our product portfolio. We’ve got the team, product, expertise and backing to build the next great FinTech software company.”

This round brings the company’s total funding to $33m, with the firm raising $6.5m for its Series A last year.

Following the deal, Insight Venture Partners vice president Harley Miller will join FloQast’s board of directors.

Copyright © 2017 FinTech Global

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