# FloQast

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/floqast

- Industry: Software
- Headquarters: Los Angeles, US
- Website: www.floqast.com
- Total disclosed funding: $283M
- Latest round: Series E (Apr 10, 2024)
- Investors on record: 14

## About

FloQast, Inc. is a US-based company that offers a comprehensive Accounting Transformation Platform designed to automate accounting workflows, boosting the efficiency and accuracy of financial operations for businesses.Founded in 2013 in Los Angeles, US, FloQast, Inc. specializes in financial process automation. The company has raised a total of USD 100 mn in its latest funding round, the Series E, led by ICONIQ Capital. The founders, Chris Sluty, Cullen Zandstra, and Mike Whitmire, have a history of expertise in accounting and technology, with Mike Whitmire serving as the current CEO. The latest round of funding occurred on April 10, 2024, with participation from other investors including BDT & MSD Partners, Meritech Capital Partners, Sapphire Ventures, and World Innovation Lab.FloQast's core offering is its Accounting Transformation Platform, which utilizes artificial intelligence to enhance various accounting workflows. The platform automates tasks like reconciliations, variance explanations, and audit preparations, providing solutions tailored to diverse businesses. Its features include automated reconciliations, AI-generated customizable checklists, and real-time team progress tracking. FloQast's client base spans multiple sectors, including manufacturing, healthcare, and financial services, and is active in North America, Europe, and Australia.FloQast generates revenue through subscription models for its Accounting Transformation Platform. Clients enter annual or monthly agreements allowing access to a range of features designed to improve financial accuracy. The B2B focus targets organizations that benefit from comprehensive accounting solutions, helping reduce operational costs and streamline processes. Pricing details are provided during contract negotiations, aligning with the client's specific needs.In April 2024, FloQast, Inc. secured USD 100 mn in Series E funding, aimed at further developing its products, expanding geographically, and enhancing customer service. The company plans to introduce new product features and expand into additional markets, leveraging the recent funding to support these initiatives. Specific details on new product launches and targeted regions for expansion will be outlined as the company progresses.

## Funding rounds

- Series E, Apr 10, 2024, $100M — Meritech Capital Partners, Sapphire Ventures, ICONIQ Capital, World Innovation Lab, BDT & MSD Partners
- Series D, Jul 13, 2021, $110M — Meritech Capital Partners, Redpoint Ventures, Norwest Venture Partners, Insight Partners, Polaris Partners, Sapphire Ventures, Coupa Software Inc.
- Series C, Jan 21, 2020, $40M — Norwest Venture Partners, Insight Partners, Polaris Partners
- Series B, Jun 21, 2017, $25M — Insight Partners, Polaris Partners, Toba Capital
- Series A, Feb 22, 2016, $6.6M — Polaris Partners, Wavemaker Partners, Amplify, Toba Capital, Danmar Capital
- Series A, Jun 20, 2014, $1.4M — Wavemaker Partners, Amplify, Toba Capital, Danmar Capital
- Seed, Oct 7, 2013, $0.1M — Amplify

## Investors

- Amplify (https://capitalatlas.ai/funds/amplify) — Seed, Series A
- Wavemaker Partners (https://capitalatlas.ai/funds/wavemaker-partners) — Series A
- Toba Capital (https://capitalatlas.ai/funds/toba-capital) — Series A, Series B
- Danmar Capital — Series A
- Polaris Partners (https://capitalatlas.ai/funds/polaris-partners) — Series A, Series B, Series C, Series D
- Insight Partners (https://capitalatlas.ai/funds/insight-partners) — Series B, Series C, Series D
- Norwest Venture Partners (https://capitalatlas.ai/funds/norwest-venture-partners) — Series C, Series D
- Meritech Capital Partners (https://capitalatlas.ai/funds/meritech-capital-partners) — Series D, Series E
- Redpoint Ventures (https://capitalatlas.ai/funds/redpoint-ventures) — Series D
- Sapphire Ventures (https://capitalatlas.ai/funds/sapphire-ventures) — Series D, Series E
- Coupa Software Inc. — Series D
- ICONIQ Capital (https://capitalatlas.ai/funds/iconiq-capital) — Series E
- World Innovation Lab — Series E
- BDT & MSD Partners (https://capitalatlas.ai/funds/bdt-msd-partners) — Series E