FloQast surpasses $200m ARR & seals EY AI alliance

FloQast has crossed $200 million in annual recurring revenue and announced a strategic alliance with EY that links the software provider more closely with large finance transformation programmes.

The Los Angeles-based company said the revenue milestone reflected stronger demand from larger organisations and wider uptake of its auditable AI Agents for accounting and compliance teams.

FloQast sells an Accounting Transformation Platform. It covers close management, automation and compliance work. The company said it has more than 3,500 customers globally.

"Surpassing $200 million in ARR is a profound validation of our core belief: that the future of accounting is about empowering the accountant, not replacing them," said Mike Whitmire, Co-Founder and Chief Executive Officer, FloQast.

Enterprise push

FloQast said it has seen faster growth from larger customers. It described an increase in enterprise clients that use its products to standardise processes across multi-entity finance operations.

The platform includes Close Optimisation, Close Automation and Connected Compliance products. FloQast said the suite reflects a multi-solution strategy. It also highlighted its expansion outside the US, with stronger growth in the EMEA region.

FloQast said it recently moved into new offices in London and Sydney. It also said it signed its largest customer so far in Germany. The customer is a multi-hospital group, according to the company.

FloQast identified FloQast Transform as its fastest-growing product. The company positions Transform as a way for teams to build and manage AI-based Agents. FloQast said the Agents are auditable and focus on repetitive tasks in accounting and compliance work.

"As former accountants, we intimately understand the profession's pain points," said Whitmire.

EY alliance

FloQast also announced a strategic alliance with EY. The deal links FloQast with one of the Big Four professional services firms that advises large companies on finance systems and operating models.

FloQast said EY advisory teams will deploy FloQast's platform with their clients. The company said the work will focus on finance modernisation programmes and global compliance efforts.

The announcement comes as accounting functions evaluate new tools that use AI for document handling, workflow routing and controls testing. Software providers have increased their focus on audit trails and governance as clients and regulators scrutinise automated decision-making in finance processes.

"This focus on human expertise, combined with relentless product innovation, international expansion and a growing roster of enterprise customers, is fueling our next phase of growth," said Whitmire.

Audit focus

FloQast said it engaged a third-party audit firm to evaluate its AI offerings. It said it applied the recommendations from that assessment. The company linked the work to auditability of its AI applications.

FloQast also said it completed what it called a major leap in its annual SOC 1 audit. It positioned the change as relevant for customers that sit inside Sarbanes-Oxley control environments.

Auditors and corporate finance leaders have placed more attention on how AI outputs enter ledgers and reconciliations, and how teams evidence review and approvals. Vendors have responded with features around logging, exception handling and access controls.

Skills programme

Alongside product development, FloQast said it launched the FloQast Certified Accountant programme. The company described it as a free certification with training across Close, Compliance, Record to Report and AI.

Companies across the sector have stepped up training offers as finance teams face pressure to adopt AI tools while maintaining strong controls. Certifications have become part of vendor strategies to deepen usage inside customer organisations and raise product familiarity among new hires.

Market signals

FloQast cited multiple awards and rankings it received during 2025, including listings from Deloitte and Inc. It also said FloQast Transform received a CODiE Award for Best Fintech Solution.

Industry recognition has become more prominent in a crowded market for financial close software and compliance tooling. Buyers often use analyst coverage, peer review sites and awards as supporting evidence during procurement.

FloQast said its AI Agents and broader platform strategy remain central to its growth plan as it expands its enterprise customer base and works with advisory firms on larger transformation programmes.