FloQast was founded in 2013 by Cullen Zandstra and Michael Whitmire. In a 2020 interview, Whitmire responded to a question about what a long-term liquidity event might look like by saying "IPO – definitely an IPO," though he did not provide a timeline.
FloQast is a workflow automation platform for accountants. The company was recognized on Deloitte's Technology Fast 500 list in 2020, and as of April 2023 reports that its 1,000+ customers include Zoom, Shopify, Roblox, and the Golden State Warriors. FloQast has raised more than $200 million in venture capital funding from investors including Meritech Capital, Redpoint Ventures, Sapphire Ventures, Coupa Ventures, Insight Partners, Polaris Partners, and Norwest Venture Partners. The company announced a valuation of $1.2 billion after a Series D funding round raised $110 million in 2021.
These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO.
Funding Date | Share Class | Amount Raised | Price per Share | Post-Money Valuation | Key Investors | |
---|---|---|---|---|---|---|
04/10/2024 | Series E1 | $39.71MM | $xx.xx | $1.6B | ICONIQ Growth, BDT & MSD Partners, World Innovation Lab, Meritech Capital, Sapphire Ventures | |
Price per Share
$xx.xx
Shares Outstanding
2,397,727
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
N/A
Key Investors
ICONIQ Growth, BDT & MSD Partners, World Innovation Lab, Meritech Capital, Sapphire Ventures
|
||||||
04/10/2024 | Series E | $60.29MM | $xx.xx | $1.6B | ICONIQ Growth, BDT & MSD Partners, World Innovation Lab, Meritech Capital, Sapphire Ventures | |
Price per Share
$xx.xx
Shares Outstanding
3,640,993
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
N/A
Key Investors
ICONIQ Growth, BDT & MSD Partners, World Innovation Lab, Meritech Capital, Sapphire Ventures
|
||||||
07/21/2021 | Series D | $110MM | $xx.xx | $1.2B | Meritech Capital, Redpoint Ventures, Sapphire Ventures, Coupa Ventures, Insight Partners, Polaris Partners, Norwest Venture Partners | |
Price per Share
$xx.xx
Shares Outstanding
7,553,129
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
N/A
Key Investors
Meritech Capital, Redpoint Ventures, Sapphire Ventures, Coupa Ventures, Insight Partners, Polaris Partners, Norwest Venture Partners
|
||||||
01/21/2020 | Series C | $40MM | $xx.xx | $243.81MM | Norwest Venture Partners | |
Price per Share
$xx.xx
Shares Outstanding
10,760,786
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
N/A
Key Investors
Norwest Venture Partners
|
||||||
12/20/2018 | Series B2 | $20MM | $xx.xx | $159.83MM | Undisclosed Investors | |
Price per Share
$xx.xx
Shares Outstanding
6,870,254
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
N/A
Key Investors
Undisclosed Investors
|
||||||
06/21/2017 | Series B | $25MM | $xx.xx | $95.87MM | Insight Venture Partners, Toba Capital, Polaris Partners | |
Price per Share
$xx.xx
Shares Outstanding
12,662,312
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
N/A
Key Investors
Insight Venture Partners, Toba Capital, Polaris Partners
|
||||||
03/16/2016 | Series A2 | $7.28MM | $xx.xx | $22.01MM | Polaris Partners, Toba Capital, Amplify.LA, Wavemaker, Danmar | |
Price per Share
$xx.xx
Shares Outstanding
12,495,805
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
N/A
Key Investors
Polaris Partners, Toba Capital, Amplify.LA, Wavemaker, Danmar
|
||||||
11/05/2014 | Series A | $1.5MM | $xx.xx | $4.28MM | Polaris Partners, Toba Capital, Amplify.LA, Wavemaker, Danmar | |
Price per Share
$xx.xx
Shares Outstanding
6,403,986
Liquidation Pref Order
1
Liquidation Pref As Multiplier
1.0x
Conversion Ratio
1.0x
Dividend Rate
8.0%
Cumulative
Non-cumulative
Participating
Non-participating
Participation Cap
N/A
Key Investors
Polaris Partners, Toba Capital, Amplify.LA, Wavemaker, Danmar
|