FloQast, a Los Angeles, CA-based provider of close management software for accountants, raised $40m in Series C funding.
The round, which brought total equity raised to date to $93m, was led by Norwest Venture Partners with participation from existing investors Insight Partners and Polaris Partners.
The company intends to use the funds to further accelerate customer expansion and drive continued technology innovation for corporate accounting teams.
Led by Mike Whitmire, co-founder and CEO, FloQast provides cloud-based close management software, which integrates with ERPs and leverages existing checklists and Excel to provide a single place to manage the month-end close and gives everyone visibility.
The company recently launched FloQast AutoRec, an AI-powered solution automating the account reconciliation process.
FloQast is today used by hundreds of accounting departments, including those at Lyft, Zoom Video, Chicago Cubs, Plaid, MasterCraft Boat, Instacart, Anaplan, DocuSign, The Golden Gate Warriors, GrubHub, Nutanix, Okta, Twilio, Yelp, Zillow and Zscaler.