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FloQast secures $110m in Series D funding round

Bringing the group’s total valuation of $1.2bn, the funding round has turned FloQast into a unicorn workflow solutions provider

FloQast, a provider of accounting workflow automation software, has successfully raised $110m in a Series D funding round.

Bringing the group’s total valuation of $1.2bn, the funding round has turned FloQast into a unicorn workflow solutions provider.

The round was led by Meritech Capital, and featured debut participation from Redpoint Ventures, Sapphire Ventures and Coupa Ventures.

Previous investors to continue in the investment round were Insight Partners, Polaris Partners, and Norwest Venture Partners.

George Bischof, general partner at Meritech, who has now also been appointed to the FloQast board of directors, said: “Today’s finance and accounting functions are undergoing major transformations to become more automated, collaborative and insightful.

“FloQast has established itself as the market leader in enabling these transitions by delivering easy-to-use, non-disruptive solutions that work the way accounting and finance professionals work.”

The company will use its latest funding to accelerate workflow innovation and development, expand its network of global partners and customers, and scale its team to support its growth.

Mike Whitmire, co-founder and CEO at FloQast, said that the group’s “customer community” is driving its workflow innovation “by finding new applications for our technology”.

He added: “This, coupled with the growing importance of finance and accounting in digital businesses, requires controllers to become more operationally involved than ever before.

“As a result, FloQast is perfectly positioned to deliver the next generation of accounting and finance modernization without disrupting the critical core work that these professionals must deliver every day.”

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