FloQast Raises $110M

Los Angeles-based accounting software developer FloQast said this morning that it has raised $110M in its Series D funding round, with its latest valuation putting the company into unicorn territory, at $1.2 billion. The funding was led by Meritech Capital, and also included Insight Partners, Redpoint Ventures, Sapphire Ventures, Coupa Ventures, Polaris Partners, and Norwest Venture Partners. The company develops financial close management software, used for financial reporting. The new funding brings the company's total raised to around $230M in total funding. FloQast's software automates many parts of the financial close for accounting departments, among other related areas.