This morning FloQast, an LA-area startup, announced that it closed a $40 million Series C led by Norwest Venture Partners. The company also told TechCrunch in an interview that it raised a $20 million inside round between today’s investment and its 2017 Series B. Including today’s infusion, the firm has raised a little over $90 million.
The small inside round, however, wasn’t executed because the firm was low on options at the time. Instead, FloQast chose it over larger term sheets, using the cash to help launch a new product. It then raised the round we’re discussing today at a higher valuation. What did FloQast launch, and what impact did that choice have on its business? Let’s talk about what FloQast sells to help us