FloQast is one of three major players in the close management space alongside BlackLine and Numeric. The company prioritizes transparent and accountable AI innovation and is one of the first accounting technology vendors globally to achieve ISO/IEC 42001 certification. FloQast has held the top position in the G2 Grid Report for Financial Close Management for six consecutive quarters.
Cyborg Score Rationale
FloQast demonstrates strong market position with 2,600+ customers, consistent top G2 rankings, and recent $100M Series E funding (April 2024). The company has proven product-market fit with AI-powered automation capabilities reducing close time by 20–30%. Challenges include market maturity in close management and competition from established players like BlackLine.
Top Insights
Customers see on average a 20% reduction monthly in time to close the books
One of the first accounting technology vendors globally to achieve ISO/IEC 42001 certification for AI governance
Closed Series E funding of $100 million in April 2024 led by ICONIQ Growth, with new investors BDT & MSD Partners and World Innovation Lab
Consistently rated #1 across all user review sites
Named Competitors
BlackLine — Enterprise close management and financial automation platform
Numeric — AI-driven close management and reconciliation automation
Workiva — Cloud platform for reporting, compliance, and performance management
Recent Developments
(April 2024) Closed $100 million Series E funding round led by ICONIQ Growth
(2024–2026) Expansion of AI-powered close automation capabilities including up to 80% reconciliation automation
(2023) Expanded to Australia and New Zealand markets and honored by Built In for 2023 Best Places to Work
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