Wednesday, March 16, 2016
FloQast Finds $6.5M For Accounting Software
Los Angeles-based FloQast, a new software startup developing month-end closing software for accountants, has raised $6.5M in a Series A funding, the company said today. The funding was co-led by Polaris Partners and Toba Capital, and also included Amplify.LA, Wavemaker Partners, and Danmar Capital. Gary Swart of Polaris joins the company's board as part of the funding. FloQast says it has developed software which works alongside Excel to help accountants do their monthly close of books. The company said the new funding will go towards product development and sales and marketing. The startup is led by Mike Whitmire, Cullen Zandstra, and Chris Sluty. Whitmire was previously at Cornerstone OnDemand; Zandstra worked at MySpace and OneScreen; and Sluty was at Rothstein Kass.