What is FreshBooks?
FreshBooks provides essential financial management solutions tailored for small businesses. Its platform offers intuitive invoicing, precise time-tracking, streamlined expense management, and secure online payment processing. Headquartered in Toronto, Canada, FreshBooks has established itself as a key resource for entrepreneurs and small business owners seeking to simplify their accounting operations and enhance financial clarity. The company's focus on user-friendliness and robust feature sets has cemented its reputation in the competitive fintech landscape.
How much funding has FreshBooks raised?
FreshBooks has raised a total of $388.8M across 6 funding rounds:
Series A
$30M
Series B
$43M
Multiple Rounds
$190.8M
Debt
$125M
Series A (2014): $30M with participation from Atlas Venture, Oak Investment Partners, and Georgian
Series B (2017): $43M led by Georgian, Oak Investment Partners, and Accomplice
Series C (2021): $60M supported by BMO T&I, Sage, iNovia Capital, Altos Ventures, and Shopify
Series E (2021): $80.8M featuring Manulife, Gaingels, BMO Global Asset Management, and JPMorgan Chase
Debt (2021): $50M backed by BMO Capital Markets
Debt (2022): $125M with participation from J.P. Morgan and BMO Financial Group
Key Investors in FreshBooks
Georgian
Georgian is a growth-stage investment firm that partners with B2B software and AI companies, providing capital, strategic guidance, and technical expertise to help businesses scale and innovate.
Oak Investment Partners
Oak Investing specializes in providing investment advice through a structured three-step approach: research, reporting, and simplifying information for investors. Their analysts conduct market research across various segments, which is then reported to Senior Advisors for further analysis.
Accomplice
Accomplice and Jump Capital is a venture capital firm. They invests in technology startup companies. The company is based in Massachusetts, United States.
What's next for FreshBooks?
The recent major strategic investment signals a new phase of growth for FreshBooks. This capital will likely be deployed to enhance its existing product offerings, explore new market opportunities, and potentially invest in technological advancements such as AI-driven financial insights. The company's trajectory suggests a continued focus on empowering small businesses with sophisticated yet accessible financial tools, aiming to solidify its leadership in the accounting software market and support its global user base.
See full FreshBooks company page
