Valuation
$1B
2018 Revenue
$55M
Customers
305K
Funding
$207.1M
Avg ACV
$180
Team
406
Founded
2003
How Freshbooks CEO Mike Mcderment grew Freshbooks to $55M revenue and 305K customers in 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.
Last updated
Freshbooks Revenue
In 2018, Freshbooks's revenue reached $55M. Since its launch in 2003, Freshbooks has shown consistent revenue growth.
| Year | Milestone |
|---|---|
| 2018 | Freshbooks Hit $55m revenue in June 2018 |
| 2003 | Launched 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.
| Year | Round | Amount | Valuation | % Sold |
|---|---|---|---|---|
| 2021 | Series E | $130M | $1.1B | 12% |
| 2017 | Series B | $47.1M | - | - |
| 2014 | Series A | $30M | - | - |
Freshbooks Employees & Team Size
Freshbooks employs approximately 406 people as of 2026, down from 488 in 2024.
Freshbooks has 406 total employees in different roles and functions and 128 sales reps that carry a quota. They have 305K customers that rely on the company's solutions.
| Year | Milestone |
|---|---|
| 2025 | Reached 406 employees (November 2025) |
| 2024 | Reached 488 employees (December 2024) |
| 2024 | Reached 664 employees (October 2024) |
| 2023 | Reached 664 employees (September 2023) |
| 2023 | Reached 664 employees (September 2023) |
| 2023 | Reached 664 employees (September 2023) |
| 2023 | Reached 702 employees (July 2023) |
| 2023 | Reached 717 employees (January 2023) |
| 2022 | Reached 684 employees (January 2022) |
| 2021 | Reached 527 employees (August 2021) |
| 2020 | Reached 429 employees (December 2020) |
| 2019 | Reached 346 employees (December 2019) |
| 2019 | Reached 410 employees (August 2019) |
| 2019 | Reached 270 employees (January 2019) |
| 2018 | Reached 300 employees (June 2018) |
Founder / CEO
Q&A
| Question | Answer |
|---|---|
| What's your age? | - |
| Favorite online tool? | - |
| Favorite book? | - |
| Favorite CEO? | - |
| Advice for 20 year old self | - |
Customers
See how Freshbooks acquires and retains customers with data on acquisition costs and revenue performance. Log in to access the complete customer economics dashboard.
LockedFrequently 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.
How many employees does Freshbooks have?
Freshbooks has 406 employees.
Where is Freshbooks headquarters?
Freshbooks is headquartered in Toronto, Ontario, Canada.
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Compare Freshbooks to the industry
Freshbooks operates across multiple industries. Browse revenue, funding, and growth data for Freshbooks in each sector below.
Source Attribution
Source: all data was collected from GetLatka company research and founder interviews. Revenue, funding, team, and customer figures are presented as company-reported or GetLatka-estimated metrics where the profile data identifies them that way.
Company data last updated .