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FloQast
Enterprise Software
FloQast is a Los Angeles-based accounting software company providing workflow automation tools that help corporate accounting teams manage the month-end financial close process.
$1.23B
+$9.80
335.67%
30 days ago
$2.92
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FloQast was founded in 2013 by Mike Whitmire, a former corporate accountant, along with co-founders, based on Whitmire's own firsthand frustration as an accountant with how manually intensive and disorganized the "financial close" process, the recurring set of tasks accounting teams perform each month to reconcile accounts, review journal entries, and finalize financial statements, typically was at most companies, often managed through a patchwork of spreadsheets, email threads, and manual checklists that made it difficult to track which close tasks were complete, who was responsible for outstanding items, and whether all necessary reconciliations had actually been properly reviewed before financial statements were finalized. FloQast's platform provides workflow and task management tools specifically designed around the accounting close process, letting accounting teams track the status of the many individual reconciliation and review tasks that make up a month-end or quarter-end close, assign clear ownership and deadlines for each task, and maintain an auditable record of who reviewed and approved each step, functionality the company designed by accountants specifically for the accounting close workflow rather than adapting a more generic project management tool not built with the specific structure of an accounting close in mind. The company has expanded from its original close management core into broader accounting operations tools, including account reconciliation automation, compliance and controls management relevant to regulations such as Sarbanes-Oxley for public companies, and analytics that help accounting leadership understand where bottlenecks or inefficiencies exist in their close process. FloQast's customers span companies of various sizes, with particular traction among mid-market and larger companies with more complex, multi-person accounting close processes that benefit most from structured workflow tracking. The company has raised substantial venture funding from investors including Norwest Venture Partners, Meritech Capital, and Sapphire Ventures, reaching a valuation exceeding $1.6 billion, competing with other accounting close and financial operations software vendors including BlackLine.
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