<s>
FreshBooks	B-Application
is	O
accounting	B-Application
software	I-Application
operated	O
by	O
2ndSite	O
Inc	O
.	O
primarily	O
for	O
small	O
and	O
medium-sized	O
businesses	O
.	O
</s>
<s>
It	O
is	O
a	O
web-based	O
software	B-Architecture
as	I-Architecture
a	I-Architecture
service	I-Architecture
(	O
SaaS	B-Architecture
)	O
model	O
,	O
that	O
can	O
be	O
accessed	O
through	O
a	O
desktop	O
or	O
mobile	O
device	O
.	O
</s>
<s>
FreshBooks	B-Application
was	O
founded	O
in	O
2004	O
by	O
Mike	O
McDerment	O
,	O
Levi	O
Cooperman	O
,	O
and	O
Joe	O
Sawada	O
in	O
Toronto	O
,	O
Ontario	O
.	O
</s>
<s>
It	O
was	O
rolled	O
back	O
into	O
FreshBooks	B-Application
as	O
an	O
updated	O
interface	O
in	O
2016	O
.	O
</s>
<s>
Initially	O
FreshBooks	B-Application
functioned	O
like	O
an	O
electronic	B-Application
invoicing	I-Application
program	O
targeting	O
IT	O
professionals	O
.	O
</s>
<s>
After	O
the	O
release	O
of	O
the	O
new	O
interface	O
,	O
the	O
initial	O
release	O
of	O
FreshBooks	B-Application
was	O
referred	O
to	O
as	O
"	O
FreshBooks	B-Application
Classic.	O
"	O
</s>
<s>
FreshBooks	B-Application
Classic	O
was	O
discontinued	O
in	O
2022	O
after	O
migrating	O
users	O
to	O
the	O
new	O
platform	O
.	O
</s>
<s>
FreshBooks	B-Application
Classic	O
's	O
front-end	O
application	O
was	O
built	O
in	O
PHP	B-Application
,	O
and	O
the	O
backend	O
services	O
were	O
built	O
in	O
Python	B-Language
while	O
the	O
new	O
FreshBooks	B-Application
uses	O
the	O
same	O
backend	O
services	O
with	O
a	O
JavaScript	B-Language
single-page	B-Application
application	I-Application
.	O
</s>
<s>
FreshBooks	B-Application
offers	O
a	O
subscription-based	O
product	O
that	O
includes	O
invoicing	O
,	O
accounts	O
payable	O
,	O
expense	O
tracking	O
,	O
time	O
tracking	O
,	O
retainers	O
,	O
fixed	O
asset	O
depreciation	O
,	O
purchase	O
orders	O
,	O
payroll	O
integrations	O
,	O
mileage	O
tracking	O
,	O
double-entry	O
accounting	O
,	O
and	O
industry-standard	O
business	O
and	O
management	O
reporting	O
.	O
</s>
<s>
It	O
offers	O
a	O
free	O
API	O
that	O
enables	O
customers	O
and	O
3rd-party	O
software	O
vendors	O
to	O
integrate	O
external	O
applications	O
with	O
FreshBooks	B-Application
.	O
</s>
<s>
FreshBooks	B-Application
also	O
supports	O
multiple	O
tax	O
rates	O
and	O
currencies	O
.	O
</s>
<s>
FreshBooks	B-Application
supports	O
country	O
specific	O
tax	O
calculation	O
in	O
Canada	O
,	O
the	O
United	O
States	O
and	O
Britain	O
.	O
</s>
<s>
GST	O
and	O
HST	O
in	O
Canada	O
,	O
sales	O
taxes	O
in	O
the	O
United	O
States	O
,	O
and	O
MTD	O
in	O
the	O
UK	O
are	O
supported	O
by	O
FreshBooks	B-Application
.	O
</s>
<s>
FreshBooks	B-Application
has	O
its	O
headquarters	O
in	O
Toronto	O
,	O
Canada	O
with	O
operations	O
in	O
North	O
America	O
,	O
Europe	O
and	O
Australia	O
.	O
</s>
<s>
Don	O
Epperson	O
had	O
previously	O
joined	O
FreshBooks	B-Application
as	O
executive	O
director	O
in	O
2019	O
.	O
</s>
<s>
FreshBooks	B-Application
was	O
initially	O
self-funded	O
.	O
</s>
<s>
In	O
2017	O
,	O
FreshBooks	B-Application
announced	O
that	O
it	O
raised	O
another	O
$43	O
million	O
in	O
funding	O
from	O
Accomplice	O
,	O
Georgian	O
Partners	O
and	O
Oak	O
Investment	O
Partners	O
.	O
</s>
<s>
On	O
August	O
10	O
,	O
2021	O
,	O
FreshBooks	B-Application
announced	O
that	O
it	O
had	O
secured	O
$80.75	O
million	O
in	O
Series	O
E	O
funding	O
and	O
$50	O
million	O
in	O
debt	O
financing	O
.	O
</s>
<s>
FreshBooks	B-Application
also	O
reached	O
a	O
valuation	O
of	O
more	O
than	O
$1	O
billion	O
.	O
</s>
