FreshBooks Raises $30M in First Round

FreshBooks-logoFreshBooks, a Toronto, ON, Canada-based provider of a cloud accounting solution for small service-based business owners, raised $30m in its first institutional investment round.

The round was led by Oak Investment Partners with participation from Atlas Venture and Georgian Partners.

The company intends to use the funds to accelerate its traction grow from 150 people to 400 employees by 2016. It is currently hiring developers, product managers and marketing experts (

Led by Mike McDerment, CEO and co-founder, FreshBooks provides Web and mobile apps for business owners to run their business. It allows them to create and send invoices, capture expenses, track time and know numbers.



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