FLOQAST VIEWS 2021 AS LANDMARK YEAR FOR COMPANY GROWTH

KUALA LUMPUR, Feb 4 (Bernama) -- FloQast, a provider of accounting workflow automation software created by accountants for accountants, has announced its Q4 and 2021 metrics, concluding a milestone year highlighted by international expansion, new product and company initiatives, industry accolades, and the biggest growth the company has seen since its launch.

The company reported 97 per cent year-over-year growth in annual recurring revenue (ARR) for the quarter, as well as 153 per cent year-over-year growth in net new ARR for 2021, according to a statement.

Further, with more than 1,500 customers globally, FloQast added 171 new customers in Q4. These milestones stem from the recent US$110 million Series D funding, led by Meritech Capital, and further the company’s leadership role in workflow automation technology. (US$1 = RM4.180)

“This past year, FloQast experienced exceptional growth across the board – including funding, product and platform launches, customer acquisition and more – making this one of the most important and successful years for the company since we were founded,” said inactive CPA, co-founder and CEO at FloQast, Mike Whitmire.

“This growth is a testament to the critical advances taking root across the accounting industry and highlights FloQast’s ability to deliver next-generation technology to usher in a new era of modernisation and change.”

Over the course of 2021, FloQast experienced milestones in several key areas among others, notable Q4 customer acquisition which includes prominent names such as Atmosphere TV, Demandbase, Valo Health, BioLegend Inc, Black Rock Coffee, Shenandoah Valley Organic, and more.

In addition, the company also launched several new initiatives, tools and programmes, including FloQast Ops; FloQast ReMind; FloQast Studios; and, Partnership with Donnelley Financial Solutions.

Also involved is the appointment of several new executives to drive FloQast’s success in 2022 and beyond, which includes Chief Financial Officer, Razzak Jallow; Vice President of Customer Success, Justin Smith; and, Chief Marketing Officer, C. Edward Brice.

Despite the challenges faced over the past two years during the pandemic, the company continues to excel in its performance, a credit to the team's commitment to customer service and excellence in pursuit of FloQast's overarching vision.

-- BERNAMA