FloQast, an LA-based finance and accounting operations platform, has successfully closed its Series E funding round, raising $100 million. The round was led by ICONIQ Growth and brings FloQast’s post-money valuation to $1.6 billion.
The company’s accounting solutions serve more than 2,600 teams worldwide at companies including Twilio, Zoom and Snowflake. Over the past year, FloQast has achieved significant milestones, including reaching $100 million in annual recurring revenue, expanding into new markets and growing its team. The company rounded out 2023 with 600 employees.
FloQast recently expanded its presence with offices in Australia and the DACH region. The funding will support the company’s continued global expansion. It will also enable research and development of new solutions, particularly for the office of the controller. FloQast additionally plans to integrate artificial intelligence into its platform.
