The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Mike McDerment is the co-founder and CEO of FreshBooks, planet earth’s #1 cloud accounting specialist for small business owners.
Mike McDerment is the co-founder and CEO of FreshBooks, planet earth’s #1 cloud accounting specialist for small business owners.
(ROSA PARK FOR THE GLOBE AND MAIL)

FreshBooks receives $30-million in funding

FreshBooks CEO Mike McDerment has previously raised cash through friends and family, but has always shrugged off institutional venture capital money. Now he’s had a change of heart.

The 10-year-old Toronto startup that’s amassed more than ten million users is accepting funding for the first time. FreshBooks has raised $30-million (U.S.) in Series A funding led by Oak Investment Partners, with participation from Atlas Venture and Georgian Partners.