FloQast, a Los Angeles, CA-based finance and accounting operations platform supplier, raised $100M in Sequence E funding, at $1.6M Billion valuation.
The spherical was led by ICONIQ Development, with participation from BDT & MSD Companions and WiL (World Innovation Lab), alongside board member Meritech Capital in addition to Sapphire Ventures. ICONIQ Development’s Roy Luo joined FloQast’s Board of Administrators.
The corporate intends to make use of the funds to additional improve its continued analysis and growth of latest options designed to enhance current workflows within the workplace of the controller, in addition to short-term and long-term improvements empowered by developments in synthetic intelligence. It is going to additionally drive continued progress and international growth efforts, enabling the corporate to ship digital innovation inside accounting and finance groups.
Led by CEO Mike Whitmire, FloQast offers a platform that allows organizations to operationalize accounting administration. Utilized by greater than 2,600 accounting groups – together with Twilio, Los Angeles Lakers, Zoom, and Snowflake – it permits clients to streamline and handle the monetary shut, finance and accounting operations, and compliance applications. With FloQast, groups can make the most of developments in AI know-how to handle features of the month-end shut, scale back their compliance burden, keep audit-ready, and enhance accuracy, visibility, and collaboration all through the monetary operate.
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