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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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In 2018, Freshbooks's revenue reached $55M. Since its launch in 2003, Freshbooks has shown consistent revenue growth.
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 | Source |
|---|---|---|---|---|---|
| 2021 | Series E | $130M | $1.1B | 12% | |
| 2017 | Series B | $47.1M | - | - | |
| 2014 | Series A | $30M | - | - |
| Question | Answer |
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| What's your age? | - |
| Favorite online tool? | - |
| Favorite book? | - |
| Favorite CEO? | - |
| Advice for 20 year old self | - |
Freshbooks serves 305K customers.
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 generates $55M in revenue.
Freshbooks was founded by Mike Mcderment.
The CEO of Freshbooks is Mike Mcderment.
Freshbooks raised $207.1M across 3 rounds.
Freshbooks has 406 employees.
Freshbooks is headquartered in Toronto, Ontario, Canada.
Freshbooks operates across multiple industries. Browse revenue, funding, and growth data for Freshbooks in each sector below.
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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Valuation
$1B
2018 Revenue
$55M
Customers
305K
Funding
$207.1M
Avg ACV
$180
Team · 2025
406
Founded
2003
| Year | Milestone | Source |
|---|---|---|
| 2018 | Freshbooks Hit $55m revenue in June 2018 | |
| 2003 | Launched with $0 revenue |
| Year | Milestone | Source |
|---|---|---|
| 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) |
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