Wave
Wave provides cloud-based accounting, invoicing, payroll, and payments software for small businesses and sole proprietors. Founded in Toronto in 2009, Wave offers free accounting and invoicing tools alongside paid services including payment processing, payroll, and bookkeeping support. The company says it has helped more than 5.9 million small business owners in the United States and Canada since 2010. Wave has operated as a subsidiary of H&R Block since July 2019, when H&R Block acquired it for $405 million in cash.
Acquired
Wave has been acquired
This company is no longer available on our private secondary market.
Overview
Company data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.
Founded
2009
Employees
201–500
Total Funding
$474.1M
8 rounds
Latest Valuation
$0.41B
Jul 1, 2019
Funding
Funding data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.
Total raised $474.1M across 8 rounds
Last updated 09-25-2026
| Date | Round | Amount Raised | Valuation | Lead Investors |
|---|---|---|---|---|
| Jul 1, 2019 | Acquisition Press release | $405M | $0.41B | H&R Block |
| May 1, 2017 | Series D | $24M | $0.66B | NAB Ventures |
| Oct 25, 2016 | Series C Extension | $11M | $0.3B | BDC IT Venture Fund |
Valuation Trajectory
Funding data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.
Entry · Series B
$1B
May 2012
Wave today
$405M
Jul 2019 · latest mark
Wave multiple
0.4x
valuation uplift since first round
Y-axis is logarithmic. Hollow dots = estimated valuations. Does not represent realized investor returns.
Prominent Investors
Leadership
Kirk Simpson
Co-Founder & CEO
James Lochrie
Co-Founder & CPO
Competitors
Competitor list is illustrative and may be incomplete, stale, or erroneous.
QuickBooks
Cloud-based accounting software for small businesses
FreshBooks
Cloud-based accounting platform with invoicing and time tracking
Xero
Cloud accounting software for small businesses and accountants
Zoho Books
Online accounting software for small businesses
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