FloQast, a software platform designed to help accountants close their books, has raised $1.3 million.
The money will go toward building new versions of the accounting platform and taking the product to market. FloQast had 10 clients during pre-launch.
The Valley Village startup joined Amplify LA’s accelerator last June after receiving $50,000 in seed funding.
“Financial statements are one of the most important parts of a business,” said Chief Executive Michael Whitmire, a former Ernst & Young auditor and Cornerstone OnDemand accountant. “Audits can be very expensive so the more organized an accounting department, the better.”
Toba Capital led the round by financing $1 million. Other investors included Amplify LA, Wavemaker Partners and Danmar Capital.