Accounting software provider FreshBooks nets $30 mln in VC
FreshBooks Inc, a cloud accounting service designed exclusively for small businesses, has secured US$30 million in first-time institutional funding. The round was led by U.S. venture capital firm Oak Investment Partners and was joined by Atlas Venture and Georgian Partners. Funds will be used to position the company for growth as it helps freelancers and service-based businesses develop without having to learn accounting. Co-founded by Mike McDerment, Joe Sawada and Levi Cooperman in 2003, the Toronto-based FreshBooks has more than doubled its user base to more than 10 million during the last two years. The company is currently hiring developers, product managers and marketing experts.
23 July 2014•4 mins read
