FloQast Secures $100 Million in Series E

by Kay Aloha Villamor in

FloQast, a Los Angeles, CA-based finance and accounting operations platform provider, has secured $100 million in Series E funding, pushing its post-money valuation to $1.6 billion. 


The round was led by ICONIQ Growth, with Roy Luo joining FloQast's Board of Directors. Other investors include BDT & MSD Partners and WiL (World Innovation Lab), alongside continued support from Meritech Capital and Sapphire Ventures. 

ICONIQ Growth is a venture capital firm based in San Francisco, California, that partners with entrepreneurs driving global impact and change. The firm focuses on investing in sectors such as SaaS, TMT, financial services, information technology, healthcare, and consumer products & services. Its investment platform and unique ecosystem help amplify its portfolio companies’ success from the early growth stage to IPO and beyond. 

FloQast Use of Funds 

The company will use the fresh funding to boost research and development for improving current workflows and creating new solutions in the controller's office. It'll also drive short and long-term AI-driven innovations. This funding will help FloQast grow, go global, and bring digital innovation to accounting and finance teams worldwide. 

About FloQast 

FloQast is a company that provides a finance and accounting operations platform created by accountants for accountants, enabling organizations to operationalize accounting excellence. Trusted by more than 2,600 accounting teams – including Twilio, Los Angeles Lakers, Zoom, and Snowflake – FloQast enhances the way accounting teams work, enabling customers to streamline and manage the financial close, finance, and accounting operations and compliance programs. With FloQast, teams can utilize the latest advancements in AI technology to manage every aspect of the month-end close, reduce their compliance burden, stay audit-ready, and improve accuracy, visibility, and collaboration throughout the financial function. 

Funding Details 

Company: FloQast, Inc. 

Raised: $100.0M 

Round: Series E 

Funding Month: April 2024 

Lead Investor: ICONIQ Growth 

Additional Investors: BDT & MSD Partners, WiL, Meritech Capital, Sapphire Ventures 

Company Website: https://floqast.com/  

Software Category: Accounting 

Source: https://www.globenewswire.com/news-release/2024/04/10/2860782/0/en/FloQast-Secures-100-Million-in-Series-E-Funding-Achieving-1-6-Billion-Valuation.html

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