Valuation · 2021
$1B
2018 Revenue
$55M
Customers
305K
Funding
$207.1M
Avg ACV
$180
Team · 2025
406
Founded
2003
Freshbooks Revenue, Valuation & Funding (2018)
Freshbooks generated $55M in revenue 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.
| Year | Milestone | Source |
|---|---|---|
| 2018 | Freshbooks Hit $55m revenue in June 2018 | Not recorded |
| 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 | Source |
|---|---|---|---|---|---|
| 2021 | Series E | $130M | $1.1B | 12% | Not recorded |
| 2017 | Series B | $47.1M | - | - | Not recorded |
| 2014 | Series A | $30M | - | - | Not recorded |
Founder / CEO
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.
| Year | Milestone | Source |
|---|---|---|
| 2025 | Reached 406 employees (November 2025) | Not recorded |
| 2024 | Reached 488 employees (December 2024) | Not recorded |
| 2024 | Reached 664 employees (October 2024) | Not recorded |
| 2023 | Reached 664 employees (September 2023) | Not recorded |
| 2023 | Reached 664 employees (September 2023) | Not recorded |
| 2023 | Reached 664 employees (September 2023) | Not recorded |
| 2023 | Reached 702 employees (July 2023) | Not recorded |
| 2023 | Reached 717 employees (January 2023) | Not recorded |
| 2022 | Reached 684 employees (January 2022) | Not recorded |
| 2021 | Reached 527 employees (August 2021) | Not recorded |
| 2020 | Reached 429 employees (December 2020) | Not recorded |
| 2019 | Reached 346 employees (December 2019) | Not recorded |
| 2019 | Reached 410 employees (August 2019) | Not recorded |
| 2019 | Reached 270 employees (January 2019) | Not recorded |
| 2018 | Reached 300 employees (June 2018) | Not recorded |
Frequently Asked Questions about Freshbooks
What is Freshbooks's revenue?
As of 2018, Freshbooks generated $55M in revenue.
What is Freshbooks's valuation?
As of 2021, Freshbooks was valued at $1B.
Who founded Freshbooks?
Freshbooks was founded by Mike Mcderment.
When was Freshbooks founded?
Freshbooks was founded in 2003.
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?
As of 2025, Freshbooks had 406 employees.
Where is Freshbooks headquartered?
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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