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{{Infobox dot-com company
{{Infobox software
| name = 2ndsite, Inc.
| logo = [[File:FreshBooks Cloud Accounting Logo.svg|FreshBooks Logo]]
| owner =
| company_type = [[Private company|Private]]
| founder = Michael McDerment<br> Joe Sawada
| area_served = Worldwide
| location_city = [[Toronto|Toronto, Ontario]]
| location_country = {{nowrap|[[Canada]]}}
| num_employees = 250 (2016)
| url = [https://www.freshbooks.com/ freshbooks.com]
| launch_date = {{start date and age|2004}}
| current_status = Active
| language = English
| commercial = Yes
| alexa = {{DecreasePositive}} 3,349 ({{as of|2016|9|27|alt=Sept 2016}})<ref name="alexa">{{cite web|url= http://www.alexa.com/siteinfo/freshbooks.com |title= Freshbooks.com Site Info | publisher= [[Alexa Internet]] |accessdate= 2016-09-27}}</ref><!--Updated monthly by OKBot.-->
| num_users = 1.6 million <small>(accounts, not visitors) ({{as of|2010|7|14}})</small><ref>Rao, Leena (July 14, 2010). [https://techcrunch.com/2010/07/14/in-five-months-freshbooks-crosses-1-billion-in-transactions/ "In Five Months, FreshBooks Crosses $1 Billion In Transactions"]. ''[[TechCrunch]]''. Retrieved March 17, 2011.</ref>
}}{{Infobox software
| title = FreshBooks Cloud Accounting
| title = FreshBooks Cloud Accounting
| name = FreshBooks
| name = FreshBooks
Line 27: Line 10:
}}
}}


<b>FreshBooks</b> is a cloud-based accounting platform that allows users to accept payments, send invoices, and manage receipts and expenses.<ref>[https://betakit.com/freshbooks-mike-mcderment-says-building-your-own-competitor-is-effective-way-to-solve-business-problems/ FRESHBOOKS’ MIKE MCDERMENT SAYS “BUILDING YOUR OWN COMPETITOR” IS EFFECTIVE WAY TO SOLVE BUSINESS PROBLEMS]</ref> The platform focuses on time and billing, with other features such as project management available.<ref>[http://www.cpapracticeadvisor.com/review/12308313/2017-review-of-freshbooks-accounts-receivable-functions 2017 Review of FreshBooks - Accounts Receivable Functions]</ref> FreshBooks offers a mobile app that functions with iPhone and Android smart phones and tablets.<ref>[https://www.reuters.com/article/idUS288126026320120828 New FreshBooks mobile app enables on-the-go accounting]</ref> As of 2017, FreshBooks serves over 10 million users in 160 countries. <ref>[https://thenextweb.com/contributors/2017/07/19/freshbooks/#.tnw_zHZucC8w How this online accounting service reinvented itself on the fly to secure $43M in funding]</ref> FreshBooks offices are based in Toronto, Canada. <ref>[https://startupheretoronto.com/success-story/freshbooks/ Why FreshBooks has no plans of leaving Toronto]</ref>
2ndsite, Inc., doing business as '''Freshbooks, Inc.''', provides cloud-based accounting solutions for small business owners. It is designed for owners of the types of small client-service businesses that send invoices to clients and get paid for their time and expertise.<ref>{{cite web|title = An open letter from FreshBooks founder Mike McDerment|url = http://www.freshbooks.com/funding-letter/|accessdate = 2014-07-23}}</ref> It was founded by Mike McDerment <ref>{{cite web|url = https://www.theglobeandmail.com/report-on-business/small-business/sb-digital/biz-categories-technology/from-his-parents-basement-entrepreneur-builds-accounting-powerhouse/article6230133/|publisher=The Globe and Mail|title=From his parents' basement, entrepreneur builds accounting powerhouse|date=Dec 14, 2012|accessdate=2013-03-20}}</ref> and Joe Sawada<ref>{{cite web|url=http://business.financialpost.com/2012/01/20/freshbooks-rookie-mistakes/|publisher=Financial Post|title=FreshBooks’ rookie mistakes|date=2012-01-20|accessdate=2013-03-20}}</ref> out of McDerment's previous Internet marketing consulting business Anicon. The company was founded in 2002 and is based in Toronto, Canada.


In 2003, Mike McDerment, FreshBooks CEO and Co-Founder, started a four-person internet design and consulting company called Anicon.<ref>[http://www.canadianbusiness.com/business-strategy/freshbooks-the-startup-that-wouldnt-leave/ FreshBooks: The startup that wouldn’t leave]</ref> He used Word and Excel to bill his clients,<ref>[https://foundr.com/mike-mcderment-freshbooks/145: The Importance of Building a Culture for Growth with Mike McDerment of FreshBooks]</ref> but McDerment saw a business niche for more secure, efficient invoicing,<ref>[https://foundr.com/mike-mcderment-freshbooks/145: The Importance of Building a Culture for Growth with Mike McDerment of FreshBooks]</ref> eventually building the platform that would be FreshBooks from scratch.<ref>[https://www.zdnet.com/article/freshbooks-turns-up-heat-in-small-business-cloud-accounting-space/ FreshBooks turns up heat in small business cloud accounting space]</ref> His intention was to make FreshBooks the go-to for small-business cloud accounting.<ref>[https://www.cantechletter.com/2014/07/freshbooks-finally-gives-suitors-raises-30-million-series/ FreshBooks finally gives in to suitors, raises $30-million Series A]</ref> FreshBooks offers a way to integrate a number of cloud based platforms used by independent businesses into one location.<ref>[https://tech.co/save-money-tools-startups-2017-05 4 Ways to Save Money with All-In-One Tools for Startups]</ref> Joe Sawada co-founded FreshBooks with McDerment, and served as the Chief Technology Officer, Vice President, and Chief Architect.<ref>[https://www.vbprofiles.com/people/joe-sawada-5129f096f2614857fe04980a Joe Sawada]</ref> Levi Cooperman, Co-founder of FreshBooks, currently serves as Vice President of Operations.<ref>[http://linkilaw.com/blog/10-lessons-on-how-to-create-a-successful-startup 10 Lessons On How To Create A Successful Startup]</ref>
==History==
The company traces its origins to McDerment inadvertently losing an invoice record by overwriting (saving another on top of it) in 2003 and sought a new way to manage the accounting for his own business. The company represents itself to have provided its service to more than five million customers. The product was first eponymously named 2ndSite and synonymous with the company. The company rebranded the product in 2006 as FreshBooks based on then burgeoning [[Web 2.0]] style.


At the 2014 Stevie Awards for Sales and Customer Service, FreshBooks won gold for customer service management team of the year.<ref>[https://idearocketanimation.com/7921-freshbooks-can-help-business/ What is FreshBooks (and Can It Help Your Business)?]</ref> In 2017, FreshBooks received 8 Stevie Awards for best customer service.<ref>[https://www.pehub.com/2017/07/freshbooks-secures-43-mln-in-georgian-partners-led-series-b/ FreshBooks secures $43 mln in Georgian Partners-led Series B]</ref> FreshBooks was also named a Forbes “Best Small Giant” in 2017.<ref>[http://blog.smallgiants.org/how-i-overcame-my-fear-of-growing-headcount Scaling Culture: How I Overcame My Fear of Growing Headcount]</ref>
Industry accolades include the 2013 [[Stevie Awards]] for customer service<ref>{{cite web|title=FreshBooks honored with 6 Stevie Awards for extraordinary customer service|url=http://www.freshbooks.com/blog/2014/02/25/freshbooks-honored-with-6-stevie-awards-for-extraordinary-customer-service/|work=FreshBooks|accessdate=3 March 2014}}</ref> and the 2013 IXDA Award for iPhone design.<ref>{{cite web|last=Grignani|first=Raphael|title=2013 Interaction Awards: Winners Announced!|url=http://awards.ixda.org/blog/2012/2013-interaction-awards-winners-announced/|work=IXDA|accessdate=3 March 2014}}</ref><ref>{{cite web|last=McKinnon|first=Casey|title=FreshBooks Wins an IXDA Design Award for iPhone App|url=http://www.freshbooks.com/blog/2013/01/22/freshbooks-for-iphone-wins-ixda-award/|work=FreshBooks|accessdate=3 March 2014}}</ref> Based in Toronto, Ontario, Canada, FreshBooks serves paying customers in over 120 countries.<ref>{{cite web|title=About FreshBooks|url=http://www.freshbooks.com/about.php|work=FreshBooks|accessdate=3 March 2014}}</ref>


FreshBooks has had two series of fundraising efforts. In July of 2014, Series A funding raised $30 million<ref>[https://thenextweb.com/contributors/2017/07/19/freshbooks/#.tnw_zHZucC8w How this online accounting service reinvented itself on the fly to secure $43M in funding]</ref> from Oak Investment Partners, Atlas Venture, and Georgian Partners.<ref>[https://www.zdnet.com/article/freshbooks-secures-30m-in-first-round-funding/ FreshBooks secures $30m in first round funding]</ref> Series B funding, completed in late 2017, raised $43 million with lead investor Georgian Partners.<ref>[https://www.enterprisetimes.co.uk/2017/07/20/freshbooks-boosted-funding-round/ FreshBooks boosted by funding round]</ref> In 2017, Simon Chong, Co-founder and managing partner at Georgian Partners, joined the board at FreshBooks.<ref>[https://www.enterprisetimes.co.uk/2017/07/20/freshbooks-boosted-funding-round/ FreshBooks boosted by funding round]</ref> With each round of fundraising, the accounting needs of small businesses and entrepreneurs, a growing sector of the market, gained more attention. <ref>[https://www.pymnts.com/news/b2b-payments/2017/freshbooks-lands-venture-capital-funding-as-sme-accounting-complexities-rise/ FreshBooks Lands Fresh Funding As SME Accounting Complexities Mount]</ref>
On July 23, 2014, the company announced it had raised $30 million (USD) in its first round of institutional venture capital. In its announcement, the company said it planned to grow its staff of about 150 employees to 400 by 2016.<ref>
{{cite web
FreshBooks has 2 versions: The classic version, introduced in 2014, and the new FreshBooks, launched in 2016.<ref>[https://zipbooks.com/blog/online-accounting-software-still-fastest/ Which Online Accounting Software is (Still) the Fastest?]</ref> Both versions of FreshBooks have the same approach: for a monthly fee (dependent on the number of clients the user is working with), subscribers can customize client settings to enable billing, expense management, and messaging.<ref>[http://www.cpapracticeadvisor.com/review/12308313/2017-review-of-freshbooks-accounts-receivable-functions 2017 Review of FreshBooks - Accounts Receivable Functions]</ref> The newer version is targeting users who run their own businesses by including features that allow for project management.<ref>[https://www.enterprisetimes.co.uk/2016/09/22/there-is-a-re-freshbooks-for-professionals/ There is a re-FreshBooks for professionals]</ref> The new FreshBooks allows users to link over 65 apps and integrations on the platform.<ref>[https://betakit.com/today-in-company-updates-freshbooks-adds-over-50-apps-to-new-platform-jiffy-on-demand-announces-us-launch/ TODAY IN COMPANY UPDATES: FRESHBOOKS ADDS OVER 50 APPS TO NEW PLATFORM, JIFFY ON DEMAND ANNOUNCES US LAUNCH]</ref>
| title = FreshBooks Raises $30-Million: Fuels Mission to Redefine Accounting for Small Business
| url = http://www.marketwired.com/press-release/freshbooks-raises-30-million-fuels-mission-to-redefine-accounting-for-small-business-1931996.htm
| accessdate = 2014-07-23
}}
</ref>

==New FreshBooks==

September 20, 2016 was the official unveiling of the new FreshBooks. New FreshBooks updated the interface and improved load times in the app by 28%.<ref>{{cite web|title=Which online accounting software is (still) the fastest?|url=https://zipbooks.com/blog/online-accounting-software-still-fastest/|accessdate=2 June 2017}}</ref> In an open letter sent out by FreshBooks co-founder Mike McDerment on February 2, 2016, Mr. McDerment laid out the goals of new FreshBooks: simplify the product, improve in-app collaboration, and increase the velocity of new feature releases.<ref>{{cite web|title=An Open Letter from FreshBooks Co-founder Mike McDerment|url=https://www.freshbooks.com/new-freshbooks|accessdate=2 June 2017}}</ref>

==See also==
* [[Comparison of time tracking software]]


==References==
==References==
{{Reflist}}
{{Reflist|3}}


{{Accounting software}}
{{Accounting software}}

Revision as of 21:28, 9 May 2018

FreshBooks Cloud Accounting
Developer(s)FreshBooks
TypeAccounting software
LicenseProprietary
Websitehttps://www.freshbooks.com

FreshBooks is a cloud-based accounting platform that allows users to accept payments, send invoices, and manage receipts and expenses.[1] The platform focuses on time and billing, with other features such as project management available.[2] FreshBooks offers a mobile app that functions with iPhone and Android smart phones and tablets.[3] As of 2017, FreshBooks serves over 10 million users in 160 countries. [4] FreshBooks offices are based in Toronto, Canada. [5]

In 2003, Mike McDerment, FreshBooks CEO and Co-Founder, started a four-person internet design and consulting company called Anicon.[6] He used Word and Excel to bill his clients,[7] but McDerment saw a business niche for more secure, efficient invoicing,[8] eventually building the platform that would be FreshBooks from scratch.[9] His intention was to make FreshBooks the go-to for small-business cloud accounting.[10] FreshBooks offers a way to integrate a number of cloud based platforms used by independent businesses into one location.[11] Joe Sawada co-founded FreshBooks with McDerment, and served as the Chief Technology Officer, Vice President, and Chief Architect.[12] Levi Cooperman, Co-founder of FreshBooks, currently serves as Vice President of Operations.[13]

At the 2014 Stevie Awards for Sales and Customer Service, FreshBooks won gold for customer service management team of the year.[14] In 2017, FreshBooks received 8 Stevie Awards for best customer service.[15] FreshBooks was also named a Forbes “Best Small Giant” in 2017.[16]

FreshBooks has had two series of fundraising efforts. In July of 2014, Series A funding raised $30 million[17] from Oak Investment Partners, Atlas Venture, and Georgian Partners.[18] Series B funding, completed in late 2017, raised $43 million with lead investor Georgian Partners.[19] In 2017, Simon Chong, Co-founder and managing partner at Georgian Partners, joined the board at FreshBooks.[20] With each round of fundraising, the accounting needs of small businesses and entrepreneurs, a growing sector of the market, gained more attention. [21]

FreshBooks has 2 versions: The classic version, introduced in 2014, and the new FreshBooks, launched in 2016.[22] Both versions of FreshBooks have the same approach: for a monthly fee (dependent on the number of clients the user is working with), subscribers can customize client settings to enable billing, expense management, and messaging.[23] The newer version is targeting users who run their own businesses by including features that allow for project management.[24] The new FreshBooks allows users to link over 65 apps and integrations on the platform.[25]

References

  1. ^ FRESHBOOKS’ MIKE MCDERMENT SAYS “BUILDING YOUR OWN COMPETITOR” IS EFFECTIVE WAY TO SOLVE BUSINESS PROBLEMS
  2. ^ 2017 Review of FreshBooks - Accounts Receivable Functions
  3. ^ New FreshBooks mobile app enables on-the-go accounting
  4. ^ How this online accounting service reinvented itself on the fly to secure $43M in funding
  5. ^ Why FreshBooks has no plans of leaving Toronto
  6. ^ FreshBooks: The startup that wouldn’t leave
  7. ^ The Importance of Building a Culture for Growth with Mike McDerment of FreshBooks
  8. ^ The Importance of Building a Culture for Growth with Mike McDerment of FreshBooks
  9. ^ FreshBooks turns up heat in small business cloud accounting space
  10. ^ FreshBooks finally gives in to suitors, raises $30-million Series A
  11. ^ 4 Ways to Save Money with All-In-One Tools for Startups
  12. ^ Joe Sawada
  13. ^ 10 Lessons On How To Create A Successful Startup
  14. ^ What is FreshBooks (and Can It Help Your Business)?
  15. ^ FreshBooks secures $43 mln in Georgian Partners-led Series B
  16. ^ Scaling Culture: How I Overcame My Fear of Growing Headcount
  17. ^ How this online accounting service reinvented itself on the fly to secure $43M in funding
  18. ^ FreshBooks secures $30m in first round funding
  19. ^ FreshBooks boosted by funding round
  20. ^ FreshBooks boosted by funding round
  21. ^ FreshBooks Lands Fresh Funding As SME Accounting Complexities Mount
  22. ^ Which Online Accounting Software is (Still) the Fastest?
  23. ^ 2017 Review of FreshBooks - Accounts Receivable Functions
  24. ^ There is a re-FreshBooks for professionals
  25. ^ TODAY IN COMPANY UPDATES: FRESHBOOKS ADDS OVER 50 APPS TO NEW PLATFORM, JIFFY ON DEMAND ANNOUNCES US LAUNCH
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