Software Startup FreshBooks Secures $43 Million

FreshBooks closed $43 million in Series B financing. Three investors participated in the round: Georgian Partners, Accomplice, and Oak Investment Partners.

FreshBooks is a cloud-based accounting software that allows owners to invoice clients, track time, and run their small businesses in the cloud. It is the Number 1 accounting software in the cloud designed exclusively for service-based small business owners and independent professionals. The company has helped more than ten million customers worldwide process billions of dollars through its easy-to-use invoicing, time tracking, and expense management features. Recognized with eight Stevie awards for best customer service in the world, the company’s mantra is to “execute extraordinary experiences every day.” Based in Toronto, Canada, FreshBooks serves paying customers in 160 countries.

The company revealed that it will use the funds raised to enhance its product offering and fuel North American growth of its new platform.