FreshBooks is an accounting software package developed and marketed by 2ndsite, Inc.
FreshBooks products are geared mainly toward small-sized businesses and offer cloud-based accounting applications that manage and pay bills, and payroll functions.
FreshBooks was founded in 2003 by Mike McDerment, Levi Cooperman, and Joe Sawada. The company is based in Toronto, Canada, and has offices in Croatia, Mexico, Netherlands, and the US.
FreshBooks offers a subscription-based product that includes invoicing, accounts payable, expense tracking, time tracking, retainers, fixed asset depreciation, purchase orders, payroll integrations, double-entry accounting, and industry-standard business and management reporting.
FreshBooks offers a free API that enables customers and 3rd-party software vendors to integrate external applications with FreshBooks. FreshBooks also supports multiple tax rates and currencies. It also incorporates a payroll feature and a projects feature.
FreshBooks has helped more than 30 million people in over 160 countries and has established itself as one of the leading accounting software platforms for small businesses and self-employed professionals.
FreshBooks is backed by Accomplice, Georgian Partners, J.P. Morgan, Oak Investment Partners, Gaingels, BMO, Barclays, Manulife, Atlas Venture, and others. The company raised $130.75M ($80.75M in Series E and $50M in Debt) on Aug 10, 2021. This brings FreshBooks' total funding to $205.9M to date. The new round mints FreshBooks a unicorn with a valuation of over $1B post-money.