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Freshbooks Analysis: $247M Raised

What is Freshbooks?

Freshbooks is a cloud-based accounting software designed for small businesses, helping them manage invoices, expenses, and time tracking efficiently. It leverages AI technology, specifically through its integration with Piper, to enhance sales development representative (SDR) processes and boost revenue.

Product Features & Capabilities

Prospecting
Enrichment
Personalization
Sequencing
Reply Handling
Scheduling
Intent Signals
CRM Automation
Analytics

Pricing & Customer Segments

Lite Plan: $15/month (billed annually) for up to 5 clients.
Plus Plan: $25/month (billed annually) for up to 50 clients.
Premium Plan: $50/month (billed annually) for up to 500 clients.
Select Plan: Custom pricing for more than 500 clients, includes advanced features.
60% Off Promotion: Available for the first 4 months on all plans.

How much Freshbooks raised

Series E - $80.8 million (August 2021)

Date: August 2021

Debt Financing - $50 million (August 2021)

Date: August 2021

Series B - $43 million (July 2016)

Date: July 2016

Funding Round - $43 million (July 2017)

Date: July 2017

Series A - $30 million (July 23, 2014)

Date: July 23, 2014

Customer Success Story

Mackenzie and Natasha Fluharty, operating The Fluharty Group in Naples, Florida, are notable clients of FreshBooks in the bookkeeping industry. They provide bookkeeping and administrative support to small businesses that cannot afford full-time accountants. By utilizing FreshBooks, they have streamlined their clients' bookkeeping processes, making it easier for clients to manage pre-accounting tasks. The user-friendly interface of FreshBooks has significantly improved their workflow and client satisfaction, as it allows clients to handle their finances without feeling overwhelmed. Another notable client is F.B. & Sons, a landscaping business based in Birmingham, England. They faced challenges due to a lack of a customer-facing platform but achieved significant success by using FreshBooks Estimates and Proposals. This tool helped them present clear and professional estimates, contributing to their rapid growth and customer satisfaction, allowing them to break even within three months of starting their business.

Who are the founders of Freshbooks

Leadership

Shaheen Javadizadeh

Chief Executive Officer

Mara Reiff

Chief Operating Officer

Faye Pang

Chief Growth Officer

Mike McDerment

Chair of The Board and Co-Founder

Platform Ratings & Reviews

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Financial Overview

$750MEstimated Revenue
$247MTotal Raised
Series E$80.8 million
August 2021
Debt Financing$50 million
August 2021
Series B$43 million
July 2016
Funding Round$43 million
July 2017
Series A$30 million
July 23, 2014