FreshBooks is accounting software operated by 2ndSite Inc. primarily for small and medium-sized businesses. It is a web-based software as a service model, that can be accessed through a desktop or mobile device. The company was founded in 2003 and is based in Toronto, Canada. The CEO name is Don Epperson
FreshBooks was founded in 2004 by Mike McDerment, Levi Cooperman, and Joe Sawada in Toronto, Ontario. McDerment incorporated a second company, BillSpring in January 2015 to work on new product development. It was rolled back into FreshBooks as an updated interface in 2016.
Initially FreshBooks functioned like an electronic invoicing program targeting IT professionals.The initial release of FreshBooks is now referred to as "FreshBooks Classic." FreshBooks Classic's front-end application was built in PHP, and the backend services were built in Pythons
FreshBooks offers a subscription-based product that includes invoicing, accounts payable, expense tracking, time tracking, retainers, fixed asset depreciation, purchase orders, payroll integrations, mileage tracking, double-entry accounting, and industry-standard business and management reporting. All financial data is stored in the cloud on a single unified ledger, allowing users to access the same set of books regardless of location on desktop and mobile. It 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.The software is priced on a pay-per-use recurring monthly fee.
FreshBooks supports country specific tax calculation in Canada, the United States and Britain. GST and HST in Canada, sales taxes in the United States, and MTD in the UK are supported by FreshBooks.
FreshBooks has its headquarters in Toronto, Canada with operations in North America, Europe and Australia. Founder Mike McDerment was the chief executive officer of the company from 2003 until 2021, when he stepped down and was replaced by Don Epperson, but stayed as the executive chair.Don Epperson had previously joined FreshBooks as executive director in 2019.
FreshBooks was initially self-funded. In 2014, the company raised a Series A venture investment of $30 million led by the venture capital firm Oak Investment Partners, with participation by Georgian Partners and Atlas Venture. In 2017, FreshBooks announced that it raised another $43 million in funding from Accomplice, Georgian Partners and Oak Investment Partners.
On August 10, 2021, FreshBooks announced that it had secured $80.75 million in Series E funding and $50 million in debt financing.FreshBooks also reached a valuation of more than $1 billion.
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FreshBooks for Education understands what students need when it comes to launching, managing and growing their career.
There Mission
Build a global tech company in Toronto, and become the NEW standard for small business owners.
There Commitment
In fulfilling our mission, FreshBooks strives at all times to provide its services in a way that respects the dignity and independence of people with disabilities. We are also committed to giving people with disabilities the same opportunity to access our services and allowing them to benefit from the same services, in the same place and in a similar way as other Customers.
In this Privacy Policy, we use the following terms to describe different types of visitors to our Site. Our customers are called “Subscribers” and our Subscribers’ customers are called “Customers”. We use the word “staff” to describe persons to whom Subscribers give “staff” access on the Site. Together with registered users of our forum or other interactive areas of the Site, these people are collectively described in this Privacy Policy as “Users” of our Site.
FreshBooks may also provide other web sites and software, including without limitation freeinvoicecreator.com, and the services provided by or through such web sites and software. These Terms also govern your use of such web sites, software and services which, for purposes of these Terms (and the FreshBooks’ Privacy Policy referred to in Section 1 below) are included in the definitions of “Site”, “Application” and “Services”.
We refer to the services provided by or through the Application as the “Services”. Users of the FB Pay service agree and are bound by the WePay Terms of Service and for users of the FreshBooks Card Reader, “Services” includes the services provided by or through the Card Reader. Users of the FreshBooks Card Reader also agree to and are bound by our FreshBooks Card Reader and Card Transactions Terms of Use, which are available here. By accepting these Terms, you authorize us to store payment credentials, and to send payment instructions to the issuing bank and take payment (one time or recurring) from a user’s credit/debit/bank account.
