When was Wave founded?

Wave was founded in 2010 and raised its 1st funding round within a year of its incorporation.

Where is Wave located?

Wave is headquartered in Toronto, Canada.

How many employees does Wave have?

As of Sep 30, 2026, the latest employee count at Wave is 273.

Is Wave a funded company?

Wave is a funded company, having raised a total of $82.4M across 13 funding rounds to date. The company's 1st funding round was a $***** Seed round, raised on Jul 01, 2010.

When was the latest funding round of Wave?

Wave's latest funding was a $***** Series D round on May 02, 2019, with participation from 1 investor.

Where does Wave rank among its competitors?

Wave ranks 7th amongst 2527 active competitors, of which 214 are funded. It stands 3rd in terms of total funding among its competitors. The most recent competitor to raise funding was Pennylane, which secured $205M in Jan, 2026.

Who are the top competitors of Wave?

Wave's top competitors include Intuit, Pennylane and Deltek. Among them, Pennylane secured the most recent funding round in January, 2026.

Wave - 2026 Company Profile, Team, Funding & Competitors

Q: Is Wave an acquired company?

Wave got acquired by H&R Block on Jun 11, 2019.

Wave is an acquired company based in Toronto (Canada), founded in 2010 by James Lochrie. It operates as a Web-based accounting software for businesses. Wave has raised $82.4M in funding from investors like CRV, BDC and OMERS. The company has 2527 active competitors, including 214 funded and 164 that have exited. Its top competitors include companies like Intuit, Pennylane and Deltek.

Company Details

Wave provides web-based accounting software for businesses. It features solutions for accounting to track income and expenses, invoicing to create and send invoices to customers with multiple templates, receipt scanning, mobile invoicing, recurring billing, and more. The mobile application is available on both IOS platform and the APK version.

Website: www.waveapps.com/
Social
Email ID: *****@waveapps.com

Key Metrics

Founded Year

2010

Location

Toronto, Canada

Stage

Acquired

Total Funding

$82.4M in 13 rounds

Latest Funding Round

Series D, May 02, 2019, $*****

Investors

CRV & 21 more

Ranked

7^th among 2527 active competitors

Employee Count

273 as on Sep 30, 2026

Investment & Acquisitions

Myna Swap & 8 more

Similar Companies

Intuit & 3147 more

Exit Details

Acquired by H&R Block (Jun 11, 2019)

View Wave's full profile

Wave is associated with 2 legal entities given below:

Legal Entity Name	Date of Incorporation	Revenue	Latest Employee Count	Documents
Wave Accounting Inc. CIN: 1496076 , United States, Active		$1 - $1M (As on Jun 18, 2012)	-	-
WAVE FINANCIAL INC CIN: 701275513 , Canada, Active	Apr 03, 2019	-	-	-

Wave got acquired by H&R Block on Jun 11, 2019 at an acquisition amount of $*****.

Click here to take a look at Wave's acquisition in detail

Wave has raised a total funding of $82.4M over 13 rounds. Its first funding round was on Jul 01, 2010. Its latest funding round was a Series D round on May 02, 2019 for $*****. 1 investor participated in its latest round. Wave has 21 institutional investors and 1 angel investor.

Here is the list of recent funding rounds of Wave:

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Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
May 02, 2019	8931862	Series D	5922800	6574478	8743291	8377185
May 30, 2017	4853633	Series D	9499741	9981598	9734938	CRV & 5 more
Oct 25, 2016	1901101	Series D	2944970	7609663	BDC	HarbourVest Partners & 2 more

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View details of Wave's funding rounds and investors

The founders of Wave is James Lochrie.

Here are the details of Wave's key team members:

James Lochrie: Former Co-Founder of Wave and founder of 1 other company. They are also an angel investor in 5 startups and serve on the board of 1 company.
Contact Info: 1 email address

View details of Wave's Founder profiles and Board Members

Wave's employee count trend

Wave has 273 employees as of Sep 26. Here is Wave's employee count trend over the years:

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Top competitors of Wave include Intuit, Pennylane and Deltek. Here is the list of Top 10 competitors of Wave, ranked by Tracxn score:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	Intuit 1983, Mountain View (United States), Public	Provider of financial, accounting, tax preparation, and marketing automation software	-	Alcor Fund, Benchmark & 25 others	83/100
2nd	Pennylane 2020, Paris (France), Series E	Cloud-based financial management and accounting software platform	$442M	Sequoia Capital, DST Global & 9 others	78/100
3rd	Deltek 1983, Herndon (United States), Acquired	Cloud based enterprise resource planning software provider for multi industries	$107M	New Mountain Capital, Prospect Capital & 3 others	77/100
4th	ContaAzul 2012, Joinville (Brazil), Acquired	Online accounting and invoicing solutions for SMBs	$40.9M	Ribbit Capital, 500 Global & 5 others	77/100
5th	FreeAgent 2007, Edinburgh (United Kingdom), Acquired	Cloud-based accounting software for small businesses, freelancers, and accountants	$21.9M	Iris Software, SM TRUST & 22 others	76/100
6th	Xero 2006, Wellington (New Zealand), Public	Provider of accounting software and related tools for business management	-	Hurlingham Partners, Sparkbox Venture Group ... & 9 others	75/100
7th	Wave 2010, Toronto (Canada), Acquired	Web-based accounting software for businesses	$82.4M	HarbourVest Partners, CRV & 20 others	74/100
8th	Sage 1981, Newcastle Upon Tyne (United Kingdom), Public	Provider of cloud-based enterprise software solutions for accounting, finance, and people management	-	91Springboard, Itz Cash Card & 46 others	70/100
9th	MYOB 1991, Cremorne (Australia), Acquired	Developer of business management software including accounting and payroll solutions	-	CVC, VantEdge Partners & 3 others	70/100
10th	Accountable 2017, Brussels (Belgium), Series A	App-based accounting management solutions for freelancers	$12.9M	Connect Ventures, Stride & 4 others	70/100

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Wave has made 7 investments in companies including Myna Swap and UnicornDAO. Wave has also acquired 2 companies including Every and Vuru.

Here is the list of investments & acquisitions:

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Date of Investment/Acquisition	Type	Company Name	Founded Year	Location
Oct 08, 2022	Investments	Myna Swap	2021	Los Angeles (United States)
May 19, 2022	Investments	UnicornDAO	2021	Los Angeles (United States)
Apr 26, 2022	Investments	CXIP	2020	Beverly Hills (United States)