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Valuation

$1B

2018 Revenue

$55M

Customers

305K

Funding

$207.1M

Avg ACV

$180

Team · 2025

406

Founded

2003

Freshbooks Revenue, Valuation & Funding (2018)

FreshBooks is a cloud-based accounting software that provides businesses with tools for managing invoicing, expenses, and other financial tasks. The company's platform allows businesses to create and send invoices, track expenses, and manage their finances in real-time, as well as providing features for project management and time tracking. FreshBooks was founded in 2003 and is headquartered in Toronto, Canada, with additional offices in Amsterdam and Raleigh. The company serves customers worldwide, ranging from freelancers to small and medium-sized businesses, across various industries, including creative, legal, and consulting, among others. FreshBooks's platform helps businesses streamline their accounting processes, enabling them to focus on their core operations and grow their business.

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Freshbooks Revenue

In 2018, Freshbooks's revenue reached $55M. Since its launch in 2003, Freshbooks has shown consistent revenue growth.

Freshbooks Revenue GrowthReported revenue / ARR over time$0$12.5M$25M$37.5M$50M$62.5M200320052007200920112013201520172018$0$55MSource: GetLatka.com
YearMilestoneSource
2018Freshbooks Hit $55m revenue in June 2018
2003Launched with $0 revenue

Freshbooks Valuation, Funding Rounds

Freshbooks reached a $1B valuation in 2021, set during its Series E round.

Freshbooks has raised $207.1M in total funding across 3 rounds, most recently a $130M Series E round in 2021.

Freshbooks Capital Raised & ValuationCumulative capital raised and post-money valuation by roundCapital raised (cum.)Valuation$0$0$250M$50M$500M$100M$750M$150M$1B$200M$1.3B$250M2003200520072009201120132015201720192021$1.1BSource: GetLatka.com
YearRoundAmountValuation% SoldSource
2021Series E$130M$1.1B12%
2017Series B$47.1M--
2014Series A$30M--

Founder / CEO

Mike Mcderment

CEO

Mike Mcderment is listed as CEO at Freshbooks.

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Customers

Freshbooks serves 305K customers.

Freshbooks Employees & Team Size

Freshbooks employs approximately 406 people as of 2026, down from 488 in 2024, including 128 sales reps that carry a quota. It serves 305K customers that rely on its solutions.

Freshbooks Team GrowthReported headcount over time020040060080020032005200720092011201320152017201920212023202500406406Source: GetLatka.com
YearMilestoneSource
2025Reached 406 employees (November 2025)
2024Reached 488 employees (December 2024)
2024Reached 664 employees (October 2024)
2023Reached 664 employees (September 2023)
2023Reached 664 employees (September 2023)
2023Reached 664 employees (September 2023)
2023Reached 702 employees (July 2023)
2023Reached 717 employees (January 2023)
2022Reached 684 employees (January 2022)
2021Reached 527 employees (August 2021)
2020Reached 429 employees (December 2020)
2019Reached 346 employees (December 2019)
2019Reached 410 employees (August 2019)
2019Reached 270 employees (January 2019)
2018Reached 300 employees (June 2018)

Frequently Asked Questions about Freshbooks

What is Freshbooks's revenue?

Freshbooks generates $55M in revenue.

Who founded Freshbooks?

Freshbooks was founded by Mike Mcderment.

Who is the CEO of Freshbooks?

The CEO of Freshbooks is Mike Mcderment.

How much funding does Freshbooks have?

Freshbooks raised $207.1M across 3 rounds.

How many employees does Freshbooks have?

Freshbooks has 406 employees.

Where is Freshbooks headquarters?

Freshbooks is headquartered in Toronto, Ontario, Canada.

Compare Freshbooks to the industry

Freshbooks operates across multiple industries. Browse revenue, funding, and growth data for Freshbooks in each sector below.

Data and Sources

All figures on this page are taken directly from interviews or are estimates from public sources and proprietary models. Not financial advice. Read full disclaimer.

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