Startups > FloQast

FloQast

FloQast automates month-end financial close processes for enterprise accounting teams.

Series E $292M total Founded 2013 Sherman Oaks, California 655 employees

FloQast is a financial close management SaaS platform that automates and centralizes the month-end accounting close process for enterprise finance teams. The software replaces manual spreadsheets and email chains with AI-powered reconciliation (up to 98% auto-reconciliation), task management, and real-time visibility into close progress. FloQast serves 3,500+ global accounting teams including Shopify, Twilio, and Chipotle, positioning itself as the straightforward, user-friendly alternative to more complex enterprise close automation platforms.

Problem solved

Accounting teams manually manage month-end closes through fragmented spreadsheets, email chains, and disconnected checklists, consuming excessive time and introducing reconciliation errors.

Target customer

Finance and accounting teams at mid-market to enterprise organizations with complex month-end close processes and 50+ accounting staff; companies seeking to reduce close cycle time and manual reconciliation work.

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Founders

Mike Whitmire

CEO & Co-Founder

CPA who worked at EY for 4 years, then joined Cornerstone OnDemand as senior accountant where he conceived FloQast; holds accounting degree from Syracuse University and authored 'Controller's Code' bestseller.

Chris Sluty

Chief Product Officer & Co-Founder

Audit Manager at Rothstein Kass (acquired by KPMG) managing enterprise clients; accounting major from Syracuse University.

Cullen Zandstra

CTO & Co-Founder

Veteran software engineer recruited as co-founder by Whitmire to lead technical development.

Funding history

Pre-Seed $50K October 2013 Led by Amplify.LA

Seed $1.3M November 2014 Led by Amplify.LA, Toba Capital · Vebu, Siemer & Associates

Series A $6.5M March 2016 Led by Polaris Partners

Series B $25M June 2017 Led by Insight Partners

Venture $20M 2018 Led by Unknown

Series C $40M January 2020 Led by Norwest Venture Partners

Series D $110M July 2021 Led by Meritech Capital · Redpoint Ventures, Sapphire Ventures, Coupa Ventures, Insight Partners, Polaris Partners, Norwest Venture Partners

Series E $100M April 2024 Led by ICONIQ Growth · BDT & MSD Partners, World Innovation Lab (WiL), Meritech Capital, Sapphire Ventures

Total raised: $292M

Industries

Enterprise Software B2B Accounting SaaS

Pricing

Subscription-based SaaS model with annual contracts; starts around $12,000-$999/month annually depending on features and team size; custom pricing for enterprise; no per-user licensing; no free trial available.

Notable customers

Shopify, Twilio, Chipotle, Lululemon, Zoom, Snowflake, DocuSign, Los Angeles Lakers, Golden State Warriors

Integrations

DocuSign, ERP systems, Excel workbooks, enterprise resource planning systems, HubSpot, Google Analytics, Salesforce ecosystem

Tech stack

WOW (JavaScript frameworks) parallax.js (JavaScript libraries) Magnific Popup (JavaScript libraries) jQuery Migrate (JavaScript libraries) jQuery (JavaScript libraries) bxSlider (Photo galleries) Wistia (Video players) Qualified (Live chat) RSS Open Graph HTTP/3 DocuSign WordPress (Blogs) HubSpot Analytics (Analytics) Google Analytics (Analytics) Facebook Pixel (Analytics) Demandbase (Analytics) Linkedin Insight Tag (Analytics) Cloudflare Bot Management (Security) HSTS (Security) Typekit (Font scripts) PHP (Programming languages) Apple iCloud Mail (Webmail) Google Workspace (Email) jsDelivr (CDN) Cloudflare (CDN) 6sense (Marketing automation) HubSpot (Marketing automation) MySQL (Databases) Reddit Ads (Advertising) Microsoft Advertising (Advertising) Linkedin Ads (Advertising) Google AdSense (Advertising) Google Tag Manager (Tag managers) Yoast SEO (SEO) Amazon Web Services (PaaS) WP Engine (PaaS) OneTrust (Cookie compliance) Pingdom (RUM) Weglot (Translation)

Website

floqast.com/

Competitors

BlackLine

Enterprise-focused close automation platform with broader feature set and higher complexity; better for organizations seeking deep automation over simplicity.

Trintech

Established close management vendor; more legacy positioning in the market with broader integrations.

Numeric

Newer market entrant focused on close automation; targets teams prioritizing elimination of manual work over ease-of-use.

Workiva

Broader reporting and compliance platform; targets enterprises needing comprehensive GRC and financial reporting beyond close management.

OneStream

Corporate performance management platform; broader scope covering planning, consolidation, and reporting beyond month-end close.

Why this matters: FloQast has raised $292M across 8 rounds (most recently $100M Series E in April 2024) to become the market's leading straightforward close management platform, trusted by 3,500+ teams at leading enterprises. The company represents a best-in-class example of vertical SaaS dominating a specific workflow (month-end close) by combining ease-of-use with AI-powered automation, positioning itself as the SMB/mid-market alternative to legacy enterprise platforms.

Best for: Mid-market to enterprise finance teams seeking a user-friendly, straightforward solution to streamline month-end close processes without the complexity of enterprise-grade automation platforms.

Use cases

Month-End Close Acceleration

Finance teams replace spreadsheet-based close checklists with centralized task management, automatically routing reconciliation work and flagging variances. This reduces close cycle time from weeks to days by eliminating manual coordination and providing real-time progress visibility across the entire team.

High-Volume Transaction Reconciliation

Accounting teams use AI-powered auto-reconciliation to match 98% of routine transactions automatically rather than manually, freeing accountants from repetitive reconciliation work. Exception handling focuses only on material variances that require judgment and investigation.

Journal Entry Management Automation

Finance teams centralize journal entry creation, approval, and posting workflows instead of managing entries through email and spreadsheets. The platform enforces controls, audit trails, and integration with the general ledger, reducing errors and improving compliance.

Close Process Documentation & Compliance

Organizations linked checklists, reconciliations, and supporting documentation for audit readiness and SOX compliance. This ensures consistent close procedures across multiple entities and provides audit teams immediate access to evidence without requiring document requests.

Alternatives

BlackLine Choose BlackLine for enterprise-scale close automation with broader feature depth; choose FloQast for simpler, faster implementation and ease-of-use focus.

Numeric Choose Numeric for maximum close process automation and AI-driven efficiency; choose FloQast for straightforward month-end close checklists with basic workflows.

Trintech Choose Trintech for established, comprehensive close management with mature integrations; choose FloQast for modern SaaS implementation and faster deployment.

FAQ

What does FloQast do? +

FloQast is a financial close management platform that automates and centralizes the month-end close process for accounting teams. It replaces spreadsheets and email-based coordination with AI-powered reconciliation (up to 98% automation), centralized task management, and real-time visibility into close progress. The platform integrates with ERP systems to auto-reconcile transactions, manage journal entries, and flag material variances.

How much does FloQast cost? +

FloQast uses custom subscription-based pricing starting around $12,000-$999/month annually depending on features, team size, and scope. There is no per-user licensing model. Pricing requires a custom quote, one-time implementation costs, and annual renewal. FloQast does not offer a free trial or freemium option.

What are alternatives to FloQast? +

BlackLine is the market leader for enterprise close automation with more features and complexity; Numeric is a newer competitor focused on maximum automation; Trintech offers established, comprehensive close management; OneStream and Workiva are broader platforms covering reporting and planning beyond close management.

Who uses FloQast? +

FloQast serves 3,500+ global accounting teams, primarily mid-market to enterprise finance organizations. Notable customers include Shopify, Twilio, Chipotle, Lululemon, Zoom, Snowflake, DocuSign, and professional sports organizations like the Los Angeles Lakers and Golden State Warriors. Target customers are finance teams with complex close processes seeking streamlined workflows over maximum automation.

How does FloQast compare to BlackLine? +

FloQast positions as the straightforward, user-friendly option for month-end close checklists and basic workflows, with faster implementation and easier adoption. BlackLine is an enterprise platform offering deeper close automation features, more complex functionality, and broader integration depth—making it better for organizations willing to invest in comprehensive automation versus simplicity.