How Waveapps hit $25.2M revenue and 10K customers in 2018.
Wave Financial Inc. is a financial services software company based in Toronto, Canada. It was founded in 2009 by Kirk Simpson and James Lochrie with the goal of simplifying financial management for small business owners. Their flagship product, Wave, is a cloud-based accounting and invoicing software that allows small business owners to track their finances, generate invoices, and manage payments. In addition to their core accounting software, Wave also offers a suite of financial services, including payments, payroll, and receipt scanning, to help small business owners manage their finances more efficiently.
2009
Founded
$25.2M
2018 Revenue
-----
YOY
$79.8M
Funding
Waveapps Revenue
In 2018, Waveapps revenue run rate hit $25.2M in revenue.
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2018
Waveapps hit $25.2M in revenue in 2018
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2009
Waveapps launched in 2009 with $0 revenue
Waveapps Funding History
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2017 Series D
Waveapps raised a Series D of in May, 2017
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2016 Venture Round
Waveapps raised a Venture Round of in October, 2016
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2016 Series C
Waveapps raised a Series C of in March, 2016
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2015 Venture Round
Waveapps raised a Venture Round of in December, 2015
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2015 Series C
Waveapps raised a Series C of in May, 2015
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2013 Venture Round
Waveapps raised a Venture Round of in October, 2013
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2012 Series B
Waveapps raised a Series B of in May, 2012
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2011 Series A
Waveapps raised a Series A of in October, 2011
| FUNDING DATE | ROUND | AMOUNT | VALUATION |
|---|---|---|---|
| May, 30 2017 | Series D | ||
| October, 25 2016 | Venture Round | ||
| March, 29 2016 | Series C | ||
| December, 03 2015 | Venture Round | ||
| May, 12 2015 | Series C | ||
| October, 23 2013 | Venture Round | ||
| May, 16 2012 | Series B | ||
| October, 14 2011 | Series A |
Team
Waveapps has 305 total employees and 1 sales reps that carry a quota. They have 10,000 customers an engineering team of 75 and a marketing team of 14.
| DISTRIBUTION | QTY |
|---|---|
| Total team size | 305 |
| Engineer | 75 (25%) |
| Sales | 1 (0%) |
| Marketing | 14 (5%) |
Founder / CEO
Zahir Khoja
His career as an entrepreneur started after he left university in his senior year and moved on to build two successful tech businesses. It was then that he understood first-hand the pain of managing finances, and knew there had to be a better way to support small business owners. Kirk has since led Wave from an 8 person startup to a growing team of over 275 employees in downtown Toronto. Wave provides entrepreneurs from around the world with award-winning financial software to help them manage their finances. Wave has raised over $100M in funding since its inception and, in 2019, was acquired by H&R Block for $537M CAD in Canada’s 11th largest tech exit. In 2019, Kirk was named Canada’s Most Admired CEO in the growth sector, and Wave was awarded Canada’s Most Admired Corporate Culture by Waterstone HC. Under his leadership, Wave has won many awards for leadership, culture, and innovation, including the Deloitte Fast 50 and Growth 500, the KPMG Fintech 100, and The Globe and Mail's Employee Recommended Workplaces. Wave ranked 6th on Great Place to Work Canada, with special categories for Women, Millennials, Technology, Inclusion and Wellness. In addition, Kirk has served as an advisor to the Next 36, Creative Destruction Lab and provides mentorship to young entrepreneurs and startup visionaries. He is also an angel investor in exciting new ventures by promising entrepreneurs. Kirk is a proud Canadian, husband, father of three and lives in Toronto. In his spare time, he enjoys being with friends, supporting his local community, and loves adventure travel where he gets to ski, surf, and play the occasional round of golf.
Q&A
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What's your age?
45
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Favorite online tool?
Drift
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Favorite book?
Powerful
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Favorite CEO?
Satya Nadella
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Advice for 20 year old self
learn to code
Customers
Churn
Waveapps Executives
| Name | Position | Working Email | Personal Email |
|---|---|---|---|
| Zahir Khoja | CEO | - | - |
| Kirk Simpson | Chief Executive Officer, Co-Founder | - | [email protected] |
Waveapps Employees
| Name | Position | Working Email | Personal Email |
|---|---|---|---|
| Zahir Khoja | CEO | - | - |
| Anderson Tan | Angel Investor | - | [email protected] |
| Camila Louzada | Senior Talent Acquisition Manager | - | [email protected] |
| Tyrone Thompson | Senior Web Developer | - | [email protected] |
| Sammy Halabi | Growth Manager | - | [email protected] |
| Asma Erum | Data Operations Lead | - | [email protected] |
| Dorsa Giyahi | Product Designer | - | - |
| Ideshini Naidoo | Chief Technology Officer | - | - |
| Lawrence Biol | Director Wave Advisors | - | [email protected] |
| Paul Marshall | Chief Operating Officer | - | [email protected] |
| Kirk Simpson | Chief Executive Officer, Co-Founder | - | [email protected] |
| Les Whiting | Chief Financial Officer | - | [email protected] |
| Alicia Martin | Employee Experience Manager | - | - |
| Swapneel Mehta | Senior Manager Risk | - | [email protected] |
| Sameena Velshi | Sr. Director Money In | - | [email protected] |
| Judith Leitner | My Voice My Lens | - | [email protected] |
| Ashira Gobrin | Chief People Officer | - | [email protected] |
| Joshua Siegal | VP Organizational Effectiveness | - | [email protected] |
| Michael Warkentin | Front End Developer | - | [email protected] |
Waveapps Board of Directors
| Name | Position | Working Email | Personal Email |
|---|---|---|---|
| Daniel White | Board Member | - | [email protected] |
Frequently Asked Questions about Waveapps
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When was Waveapps founded?
Waveapps was founded in 2009.
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How much revenue does Waveapps generate?
Waveapps generates $25.2M in revenue.
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Who is the CEO of Waveapps
The CEO of Waveapps is Zahir Khoja.
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How much funding does Waveapps have?
Waveapps raised $79.8M.
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How many employees does Waveapps have?
Waveapps has 305 employees.
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Where is Waveapps headquarters?
Waveapps is headquartered at 155 Queens Quay E, 500, Toronto, Ontario, M4M 2S1, Canada
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