Close and analytics

FloQast

Close management and compliance software built by accountants for mid-market and enterprise accounting teams, now with auditable AI agents.

floqast.com · founded 2013 · Los Angeles, California, US · researched 2026-10-10

Scope: FloQast runs the month-end close beside your ERP: checklist, reconciliations with preparer and reviewer sign-off, journal entry management with approval and posting, variance analysis, anomaly detection, and SOX and operational audit work. It connects to NetSuite, SAP, Workday, Microsoft, Sage Intacct and Xero for trial balances and posts journals back. It is not a ledger, has no MCP server, and its API is narrow and gated.
Backing: Venture-backed, private. $110M Series D led by Meritech at a $1.2B valuation (July 2021; $203M raised to that point); $100M Series E led by ICONIQ Growth at a $1.6B post-money valuation (10 April 2024). Passed $200M ARR (20 January 2026).
Serves: mid-market, enterprise, accountants
Covers: close, reporting, documents
To ownpurse: Neighbour. FloQast sets the bar for what a controller expects from sign-off: a preparer, a reviewer, review notes, a completeness check and an audit trail, with agents that propose and people who approve. It works only for teams that already have an ERP and an audit, and the evidence lives in FloQast's cloud. ownpurse can give the same discipline to an owner or a small firm, with the evidence in their own record.

What it is

FloQast is close management and compliance software for accounting teams, founded in Los Angeles in 2013 by Mike Whitmire, a CPA who had run month-end closes himself. It sits beside the ERP and organises the close the way a controller already does: a checklist, reconciliations that a preparer prepares and a reviewer signs off, journal entries that are reviewed before they post, and audit work. It passed $200M in annual recurring revenue on 20 January 2026 and says more than 3,500 accounting teams use it.

How it works

FloQast connects to NetSuite, SAP, Workday, Microsoft Dynamics, Sage Intacct and Xero and pulls each account’s balance. On the reconciliations page, each account gets a preparer, a reviewer and a due date; support (bank statements, subledger detail, schedules) is stored with it; reviewers raise notes and preparers clear them, and “strict sign-off keeps the two roles separate.” If the GL shifts after sign-off, owners are alerted so sign-offs do not go stale, and a completeness check confirms every account was reconciled. Auto sign-off is limited to unchanged and zero-balance accounts. Journal Entry Management creates, validates and posts journals to the ERP, requires documentation, and locks approved entries.

Data and access

FloQast has an API, but a narrow one. Its help centre has a section on building to the FloQast API covering API keys tied to a user account, an API audit log, and subledger tie-out and matching endpoints; the pages are not public. Third parties sell unified or unofficial access, which says the official surface does not cover sign-offs and attachments. Pricing is by quote, in three packages (Close Management, Close AI, Risk and Compliance), with no per-user fees. Close data can be exported in a pivot-friendly format.

Agents

FloQast launched auditable AI agents on 25 March 2025: a journal entry agent, a data transformation agent and custom agents, built in FloQast Transform. In September 2026 Transform learned to build an agent from a completed close, test it against numbers the team already approved, and document it for the auditor. Teams sign off on every step before an agent goes live, and an AI review of a journal leaves “the human” to make every call. FloQast is ISO 42001 certified and is building a COSO generative-AI governance module. There is no MCP server or outside agent interface in its press releases through 16 September 2026; the agents live inside FloQast.

Customers

Customers include Lululemon, Chipotle, Shopify, Twilio, Zoom and the Los Angeles Lakers. Growth runs through partners: EY, Deloitte Australia, PwC Belgium, RSM and Forvis Mazars. Review-site ratings could not be read in this pass.

History

FloQast raised a $110M Series D at a $1.2B valuation in July 2021, with $203M raised by then and 1,400 customers, and a $100M Series E at $1.6B led by ICONIQ Growth on 10 April 2024. Customer counts went from 1,400 (2021) to 2,600 (April 2024) to 3,500 (September 2025).

For ownpurse

FloQast is the reference for what sign-off means to a controller, and ownpurse should match it: two roles that cannot be the same person, notes that are raised and cleared, a sign-off that goes stale when the balance under it moves, and a completeness check before the period closes. FloQast’s agent story (agents propose, people approve, every step logged) is ownpurse’s principle, applied inside one vendor’s cloud. Its weak side is access: a gated, partial API and no MCP. ownpurse can bring the same review discipline to a small business or an accountant’s clients, with the sign-offs and evidence in a record the owner holds and any agent can read.

Data and access

Public API: No. REST API documented in a login-gated help-centre section ('Building to the FloQast API'): generate an API key, API audit log, subledger tie-out and subledger matching.
Auth: API key generated by and tied to a FloQast user account.
Limits: Not published.
What access costs: Not separately priced; access depends on plan (not stated publicly).
Export: Close data exports to a 'pivot-friendly, analysis-ready format'; reports of reconciling items; audit reports. No documented bulk export of the full history.
Notes: Third parties (Truto, an unofficial Supergood layer) wrap FloQast, which suggests demand the official API does not meet; sign-offs and attachments are said to live mostly in the UI.

Price

Model: Quote-based packages, 'no per-user fees'.
Entry: Close Management package (checklist, reconciliations, accounting operations, projects, AI Assistant, ERP integration); price not published.
Top: Close AI (agents, AI matching, automated reconciliations, journal posting, COSO-aligned AI governance) plus Risk and Compliance; price not published.
Notes: Pricing page viewed 10 October 2026.

Agents

MCP: none
AI features: FloQast AI Agents (March 2025): Journal Entry Agent, Data Transformation Agent, custom agents; Transform agent builder (September 2025; in September 2026 it builds an agent from a completed close, tested against numbers already approved); AI Assistant for journal review with an audit-risk score; Detect anomaly monitoring; AI variance analysis; AI testing for internal audit; COSO GenAI governance module (announced as coming soon, September 2026). ISO 42001 certified.
Agent writes: Agents create journal entries (for example accruals from Coupa data) and post them to the ERP through Journal Entry Management; agents prepare reconciliations and transform data.
Approval: Human-in-the-loop by design: teams sign off on every step before an agent goes live; journal entries require review and approval before posting and are locked once approved; strict preparer and reviewer separation on reconciliations; flagged anomalies are routed for review and signed off with an audit trail.
Notes: The sign-off model is the controller's standard: preparer, reviewer, due date, review notes, completeness check, and a sign-off that goes stale if the GL moves.

Integration and customers

Connects to: ERPs: NetSuite, SAP, Workday (GL integration from September 2025), Microsoft Dynamics, Sage Intacct, Xero. 25 listed integrations: Bill.com, Brex, Carta, Concur, Coupa, Expensify, Ramp, Stripe, Zip; Box, Dropbox, Egnyte, Google Drive, OneDrive, SharePoint; Teams, Slack; Lucidchart, Visio; OneLogin; ADP, BambooHR, Employment Hero, Rippling, UKG. Banks via Trovata (October 2025).
Notes: The Xero integration pulls GL trial balances in the background with on-demand refresh; write-back to Xero is not described.
Scale: More than 3,500 accounting teams and over $200M ARR (20 January 2026); 2,600+ teams in April 2024; 1,400+ businesses in July 2021. Named customers include Lululemon, Chipotle, Shopify, Twilio, Zoom and the Los Angeles Lakers.
Ratings: Not verified: G2, Capterra and TrustRadius pages could not be read (blocked).
What customers say: Not verified from review sites in this pass. FloQast's pitch, built by former accountants and certified with a free CPE-style programme, is that controllers trust it because it mirrors how they already review work.

Timeline

2013
Founded in Los Angeles by Mike Whitmire, CPA, a former accountant, now CEO.
2020
$40M round (early 2020).
2021-07
$110M Series D led by Meritech at a $1.2B valuation; $203M raised in total; 1,400+ customers.
2024-04-10
$100M Series E led by ICONIQ Growth at a $1.6B post-money valuation; 2,600+ teams.
2024-09
Accounting Transformation Platform launched: close optimisation, close automation, connected compliance, record to report.
2025-03-25
Launches auditable AI Agents (journal entry, data transformation, custom) in FloQast Transform.
2025-09-17
AI Agent Builder, AI Detections, AI Variance Analysis and Workday GL integration at TakeControl.
2026-01-20
Passes $200M ARR; managed services agreement with EY; 3,500+ teams.
2026-09-16
TakeControl 2026: Transform builds agents from a completed close; COSO GenAI module announced; COSO's chair joins FloQast.

Borrow and avoid

Borrow: Preparer and reviewer as separate roles that cannot be the same person; review notes raised by the reviewer and cleared by the preparer; a sign-off that goes stale when the balance under it changes; a completeness check that every account was reconciled before the period closes; auto sign-off only for unchanged and zero-balance accounts; agents tested against numbers a person already approved before they run; approved entries locked.
Avoid: A gated, partial API that leaves customers paying third parties to scrape the UI; keeping sign-offs and attachments reachable only through the web app; pricing nobody can see.

Sources

Not confirmed against a primary source

G2, Capterra and TrustRadius ratings and review counts (sites blocked in this pass).
Customer sentiment from reviews and forums (not gathered; web search budget exhausted).
Total funding after the Series E (about $303M by adding $203M and $100M; not stated by FloQast).
Co-founders other than Mike Whitmire.
API rate limits, plan requirements and full endpoint list (help-centre pages returned 403).
Whether an MCP server or outside agent interface exists that was not in press releases.

On the spectrum

0 to 4. The grey tick is ownpurse.

Custody: 1
Where it runs: 0
History: 2
Openness: 1
Breadth: 3
Autonomy: 2
Agent-ready: 1
Easy to connect: 1
Market: 3

See it on the map

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ownpurse is not affiliated with FloQast or any company named here. Names are their owners' trademarks. Figures come from the company's own pages and the press, as linked, as of 2026-10-10; scores are our reading of them against the definitions in the landscape. This is not legal or financial advice.