Cloud-based accounting software service FreshBooks, recently announced that the company had raised $43 million USD in Series B funding led by existing investor Georgian Partners. The announcement predictably attracted widespread attention in the media. The platform also previously raised $30M USD in institutional funding back in July 2014. The success of the service is highlighted by its 10 million users across 160 countries. But, there is much more to this story once you scratch beneath the surface. Freshbooks was released back in 2003. Although it might be difficult to comprehend in this digital age, SaaS didn’t even exist as a…
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