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FreshBooks Logo
Type Private
Headquarters Toronto, Canada
Area served Worldwide
Founder(s) Michael McDerment
Joe Sawada
Employees 129 (2014)
Alexa rank positive decrease 2,442 (April 2014)[1]
Users 1.6 million (accounts, not visitors) (As of 14 July 2010)[2]
Available in English
Launched 2004
Current status Active

FreshBooks is a cloud-based accounting solution designed for small business owners. It was founded by Mike McDerment[3] and Joe Sawada[4] in 2003 out of McDerment's previous Internet marketing consulting business Anicon. It has about 129 employees[5] and remains privately held.


When McDerment accidentally saved over an invoice back in 2003, he turned his frustration into a better way to manage the accounting for his small business. Since building the company from his parents' basement, FreshBooks has helped more than 5 million people collect billions of dollars through time tracking, invoicing and expense management.[5]

Originally, the product was named 2ndSite, synonymous with the company. In early 2006, the company rebranded the product as FreshBooks with a completely different look and feel based on the then burgeoning Web 2.0 style.

Industry accolades include the 2013 Stevie Awards for customer service[6] and the 2013 IXDA Award for iPhone design.[7][8] Based in Toronto, Canada, FreshBooks serves paying customers in over 120 countries.[9]


  1. ^ " Site Info". Alexa Internet. Retrieved 2014-04-01. 
  2. ^ Rao, Leena (July 14, 2010). "In Five Months, FreshBooks Crosses $1 Billion In Transactions". TechCrunch. Retrieved March 17, 2011.
  3. ^ "From his parents' basement, entrepreneur builds accounting powerhouse". The Globe and Mail. Dec 14, 2012. Retrieved 2013-03-20. 
  4. ^ "FreshBooks’ rookie mistakes". Financial Post. 2012-01-20. Retrieved 2013-03-20. 
  5. ^ a b
  6. ^ "FreshBooks honored with 6 Stevie Awards for extraordinary customer service". FreshBooks. Retrieved 3 March 2014. 
  7. ^ Grignani, Raphael. "2013 Interaction Awards: Winners Announced!". IXDA. Retrieved 3 March 2014. 
  8. ^ McKinnon, Casey. "FreshBooks Wins an IXDA Design Award for iPhone App". FreshBooks. Retrieved 3 March 2014. 
  9. ^ "About FreshBooks". FreshBooks. Retrieved 3 March 2014. 

External links[edit]