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FreshBooks Logo
Type of business Private
Available in English
Headquarters Toronto, Ontario, Canada
Area served Worldwide
Founder(s) Michael McDerment
Joe Sawada
Employees 250 (2016)
Alexa rank 3,349 (Sept 2016)[1]
Commercial Yes
Users 1.6 million (accounts, not visitors) (As of 14 July 2010)[2]
Launched 2004; 13 years ago (2004)
Current status Active

FreshBooks is a cloud-based accounting software service designed for owners of the types of small client-service businesses that send invoices to clients and get paid for their time and expertise.[3] It was founded by Mike McDerment[4] and Joe Sawada[5] in 2003 out of McDerment's previous Internet marketing consulting business Anicon.


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.

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

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.[10]

See also[edit]


  1. ^ " Site Info". Alexa Internet. Retrieved 2016-09-27. 
  2. ^ Rao, Leena (July 14, 2010). "In Five Months, FreshBooks Crosses $1 Billion In Transactions". TechCrunch. Retrieved March 17, 2011.
  3. ^ "An open letter from FreshBooks founder Mike McDerment". Retrieved 2014-07-23. 
  4. ^ "From his parents' basement, entrepreneur builds accounting powerhouse". The Globe and Mail. Dec 14, 2012. Retrieved 2013-03-20. 
  5. ^ "FreshBooks' rookie mistakes". Financial Post. 2012-01-20. Retrieved 2013-03-20. 
  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. 
  10. ^ "FreshBooks Raises $30-Million: Fuels Mission to Redefine Accounting for Small Business". Retrieved 2014-07-23.