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FreshBooks Has Received an Investment from Oak Investment Partners, Atlas, Georgian Partners

About FreshBooks

  • FreshBooks is the #1 cloud-based accounting solution designed exclusively for small professional services business owners
  • The company’s solutions reduce the amount of time users spend invoicing by 60% and help businesses get paid five days faster by making it easy to create and track invoices, capture expenses, track time for staff and contractors and generate reports
  • The company has helped more than 10 million users process billions of dollars of transactions
  • Founded in 2003 and headquartered in Toronto, FreshBooks employs over 150 people

About Oak Investment Partners

  • Oak Investment Partners is a multi-stage venture capital firm and a lead investor in the next generation of enduring growth companies
  • Since 1978, the firm has invested $9 billion in over 500 companies around the world, with a senior team that delivers guidance, domain expertise and a consistent investment philosophy
  • The firm’s five major sectors of focus are information technology, internet and consumer, financial services technology, healthcare services and clean energy
FreshBooks is growing the cloud accounting software market by delivering a solution that is designed for the millions of small business owners that want to run their businesses without having to learn accounting. Given our focus on high-growth financial services technology, partnering with FreshBooks is a natural fit. We look forward to helping FreshBooks realize their vision of building the market-leading accounting solution built exclusively for small service-based business owners.

Ann Lamont

Managing Partner at Oak Investment Partners

Transaction Notes

  • $30 million investment round led by Oak Investments Partners with participation from Atlas Venture and Georgian Partners
  • FreshBooks will use the proceeds to accelerate growth and build upon its extraordinary customer satisfaction ratings
  • Shea & Company served as the exclusive placement agent for the transaction
  • Investment Rationale
  • The funding was the first institutional investment round for FreshBooks
Read The Press Release