Wave
Wave provides cloud-based accounting, invoicing, payroll, and payments software for small businesses and sole proprietors. Founded in Toronto, Wave offers free accounting and invoicing tools with optional premium services including payment processing and bookkeeping services. At its peak, Wave served over 400,000 small businesses globally. Acquired by H&R Block in 2019 for $405 million.
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
Total Funding
$474.1M
8 rounds
Latest Valuation
$0.41B
July 1, 2019
Funding
Total raised $474.1M across 8 rounds
Funding data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.
Last updated 06-25-2026
Latest Round
Type
Acquisition
Date
July 1, 2019
Amount
$405M
Valuation
$0.41B
Lead Investors
| Date | Round | Amount Raised | Valuation | Lead Investors |
|---|---|---|---|---|
| July 1, 2019 | Acquisition | $405M | $0.41B | H&R Block |
| May 1, 2017 | Series D | $24M | $0.66B | NAB Ventures |
| October 1, 2016 | Series C Extension | $11M | $0.3B | BDC IT Venture Fund |
Funding by Round
Funding data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.
Valuation Trajectory
Valuation indexed to 1.0× at the selected entry round. Valuation marks are estimates and may contain errors. Hover each dot to compare.
Entry · Series B
$1B
May 2012
Wave today
$0.4B
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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