FreshBooks
Cloud-based accounting software for SMBs
- 201-500 employees
- Fintech
- B2B
- Payments
- SaaS
- Accounting
- Cloud Computing
- Junction Triangle, Toronto, ON
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Company mission
To reshape the world to suit the needs of self-employed professionals and their teams.
-2% employee growth in 12 months
Our take
The need for owners to manage their business digitally has accelerated, and this has changed how small business owners work with bookkeepers and accountants. FreshBooks has built a cloud-based accounting software platform designed to make things like invoicing, expenses, payments, payroll and financial reporting easier for SMBs, and has served more than 30 million people in over 160 countries.
In 2021, the company hired over 100 employees and entered the Latin America market after acquiring Mexico-based e-invoicing company Facturama, in an effort to expand its audience in Spanish-speaking markets. The company has also seen significant growth of new customers.
FreshBooks used capital from 2021 to boost sales and marketing, as well as R&D, and undertake strategic acquisitions. Despite a planned IPO, the company faced the pressures of the early 20's financial crisis and was forced to cut staff in a bid to reach profitability. It continues to expand its offering, for example through a partnership with Stripe to launch an embedded payment product, which will help in this path to profitability.
Kirsty
Company Specialist at Welcome to the Jungle
Benefits
- Indoor Bike Storage & Repair Supplies
- Daily Breakfast, Snacks & Drinks
- 100% Employer Paid Health, Vision and Dental Benefit Premiums
- Employee Assistance Program
- Paid Volunteer & Innovation Days
- Dog and Kid-Friendly Office
- Onsite Massage, Gym, Yoga, Meditation & Shower Facilities
Funding (last 2 of 3 rounds)
Aug 2021
$80.8m
SERIES E
Jul 2017
$43m
SERIES B
Total funding: $153.8m
This company has top investors
Leadership
Mike McDerment
(CEO & Founder)Founded the company back in 2003, and has served as CEO ever since. Also Board Chair and Founder of Briza for 10 years.